Frugal Savings with Discounted Gift Cards

      3 Comments on Frugal Savings with Discounted Gift Cards

If you’ve ever had to purchase a gift for someone, you’ve probably experienced the frustration that it often entails when you don’t know what to get the person. “Does he like this…would she want that…?” Purchasing gift cards seems like the quick and easy solution for this common dilemma, and interestingly, this method is favored by both retailers and consumers.

Retailers enjoy gift cards because of the publicity it creates, the low usage from the receiving party, and the benefits of upsales, while consumers love that it is hassle-free, that it gives them the freedom of choosing their own gift, and that it involves fixed-budget spending. For this reason, a plethora of online sites over the past few years have begun to sell gift cards. These gift cards range widely in business and product type, including those from both small-scale, local businesses such as nail salons and restaurants, as well as gift cards from large-scale national brands such as Bloomingdale’s and Amazon which sell a variety of products including clothing, books, and household items. Most of these sites are retailers themselves, such as iTunes and Bed, Bath, and Beyond that offer the gift card option straight from their website, or they are other sites such as plasticjungle.com and giftcardswapping.com which allow individuals to exchange their gift cards with other people’s gift cards.

Recently, there are a whole bunch of sites entering this growing industry that offer name-brand gift cards at discounted prices. Some of these sites include beezid and cityhits. At sites like these, individuals are able to purchase discounted gift cards at discounts of 50% or more. What a way to be frugal! Give your loved one (or yourself) a nice-valued gift card and pay only a fraction of the price! But don’t worry- it’ll be our little secret.

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3 thoughts on “Frugal Savings with Discounted Gift Cards

  1. Canadianbudgetbinder

    I often wondered about that when people don’t use their gift cards. It’s like giving the retailers free money and it’s no wonder they love selling them. If more people just handed over cash and the recipients of the cards stashed them away and forgot to use them if ever they do then it’s money all the way to the bank for the retailer. The publicity is big as well,yes.

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  2. Buck Inspire

    You are so right about gift cards being everywhere. Costco is loaded with them and check out stands of your favorite stores are stacked. Sounds like a win for everyone involved. Haven’t checked out discounted gift cards, but did look into a gift card exchange. I couldn’t pull the trigger because I felt I lost too much value going into another card.

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