Gift cards are an increasing trend when it comes to purchasing items online. Gift cards are available in physical form (scratch code) or digital form (voucher code). You can redeem vouchers to add funds to your digital wallet for a specific platform in order to purchase any item from your selected store. Gift vouchers can be very convenient for online purchases which makes them quite attractive to buyers. This also makes them attractive to sellers who might be willing to start a gift card business to sell gift certificates for a quick profit.
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Overview of the gift card market in the UK
By 2023, the value of the gift card market in the UK was about 40,851.30 Million USD. This value is expected to surpass 100,419.97 Million USD by the year 2032 at a Compound Annual Growth Rate of 10.51%. Judging by the stats themselves, it is safe to say that the gift card business in the UK is massive and it is only going to get even much bigger in the coming years.
Do You Know: In the UK, approximately £98 million worth of gift-cards remain unused for a full year after receipt. This represents a portion of the enormous £7 billion gift-card market, where gift-cards are often forgotten or left to expire. Additionally, a significant number of gift-cards go unused or are only partially used, with over 2/3’s (67%) of the market value tied up in gift-cards purchased directly by consumers.
Ways to sell gift cards in the UK
You can sell gift cards in the UK through 2 main different ways. Either by opening a local physical store or an online store on your own website or on a gift card marketplace. You can also use the 3rd way – market through forums and social media platforms, but this is a risky method, so in the article we will stick to the first two choices.
Local Store
If running an online business isn’t your thing, then your best bet would be to open a physical gift card store in your area. Running a local store gives you the freedom of running a gift card business all to yourself. You will not be subjected to any commission fees which means you get to keep all the money you make. Among the biggest disadvantages can be mentioned the cost of annuity. This business will also not be profitable if your gift card kiosk is not located in a strategically advantageous location (urban environment with a large number of visitors).
In-Store Trade-in
Some local retail stores in the UK offer gift card trade-in services. Customers can bring their unwanted gift cards to the store, where they will be assessed for their value. If accepted, the store will offer you a certain amount of store credit or cash in exchange for the gift card. This method is convenient and immediate, as you can walk out with your store credit or cash on the spot.
- Find a participating store: Look for local retail stores in the UK that offer gift card trade-in services. Some examples include Tesco, Sainsbury’s, and Asda.
- Check your gift card balance: Make sure you know the remaining balance on your gift card.
- Visit the store: Take your gift card to the customer service desk or designated trade-in area.
- Present your gift card: Show the store staff your gift card and ask about their trade-in program.
- Get an offer: The staff will assess the value of your gift card and offer you a certain amount of store credit or cash.
- Accept or decline: If you accept the offer, you’ll receive store credit or cash on the spot.
For Example: You take a £20 gift card to Tesco and they offer you £15 in store credit. You accept and receive a £15 store credit voucher.
Gift Card Kiosks
Another option for selling gift cards locally is through gift card kiosks. These machines are often located in shopping centers or supermarkets and allow you to insert your gift card, have its value assessed, and receive a cash offer on the spot. The kiosk will then print a voucher that you can redeem for cash at the customer service desk or a nearby store.
- Find a kiosk: Look for gift card kiosks in shopping centers or supermarkets.
- Insert your gift card: Put your gift card into the kiosk’s card reader.
- Get an offer: The kiosk will assess the value of your gift card and print a voucher with a cash offer.
- Redeem your voucher: Take the voucher to the customer service desk or a nearby store to exchange it for cash.
For Example: You insert a £25 gift card into a kiosk and receive a voucher for £20 cash. You take the voucher to the customer service desk and exchange it for £20 cash.
Local Classified Ads
You can also sell your gift cards through local classified ads platforms such as Gumtree or Facebook Marketplace. Create an ad with the details of your gift card, including the store, remaining balance, and your asking price. Potential buyers can contact you directly through the platform, and you can arrange a safe, local meeting to exchange the gift card for cash.
- Choose a platform: Select a local classified ads platform like Gumtree or Facebook Marketplace.
- Create an ad: Write a post with the details of your gift card, including the store, remaining balance, and your asking price.
- Add a photo: Include a photo of the gift card to build trust with potential buyers.
- Wait for responses: Interested buyers will contact you through the platform.
- Arrange a meeting: Meet the buyer at a safe, local location and exchange the gift card for cash.
Example: You create an ad on Gumtree for a £30 gift card with a £25 asking price. A buyer contacts you and you arrange to meet at a local coffee shop to exchange the gift card for £25 cash.
Local Buy & Sell Groups
Many local communities have dedicated buy and sell groups on social media platforms like Facebook or Reddit . Join these groups and create a post with the details of your gift card, including the store, remaining balance, and your asking price. Interested buyers within your local community can then contact you directly to arrange a safe, local exchange.
- Join a group: Find a local buy and sell group on social media platforms like Facebook, Reddit or etc.
- Create a post: Write a post with the details of your gift card, including the store, remaining balance, and your asking price.
- Add a photo: Include a photo of the gift card to build trust with potential buyers.
- Wait for responses: Interested buyers will contact you through the platform.
- Arrange a meeting: Meet the buyer at a safe, local location and exchange the gift card for cash.
Example: You join a local Facebook group and create a post for a £20 gift card with a £18 asking price. A buyer contacts you and you arrange to meet at a local park to exchange the gift card for £18 cash.
Pawn Shops
Some pawn shops in the UK accept gift cards as collateral for a loan or as an outright sale. Bring your gift card to a local pawn shop and have it assessed for its value. The pawn shop will offer you a certain amount of cash in exchange for the gift card. This method is quick and straightforward, but keep in mind that the offered amount may be lower than the card’s face value.
- Find a pawn shop: Look for local pawn shops in your area.
- Check your gift card balance: Make sure you know the remaining balance on your gift card.
- Visit the pawn shop: Take your gift card to the pawn shop and ask about their gift card program.
- Get an offer: The pawn shop staff will assess the value of your gift card and offer you a certain amount of cash.
- Accept or decline: If you accept the offer, you’ll receive cash on the spot.
Online store
To sell gift cards online, you can either open your own store or go to an online marketplace to create a seller account and set up your business there. You can sell gift card codes in digital form while dealing online. You will send the buyer the voucher code, and they will be able to redeem these codes as soon as they receive it. Using an online marketplace is a popular strategy when it comes to selling gift cards because it is easy and profitable.
Step 1: Choose a reputable online platform
- Research and select a trustworthy online platform to sell your gift cards, such as Buysellvouchers.com, Cards2Cash, Zapper, or Cardyard.
Step 2: Check the platform’s requirements
- Visit the chosen platform’s website and review their requirements for selling gift cards. Ensure your gift card meets the criteria (e.g., expiration date, store, and condition).
Step 3: Enter your gift card details
- On the platform’s website, enter the details of your gift card, including the store, remaining balance, and any other required information.
Step 4: Receive a valuation
- The platform will provide you with an instant valuation of your gift card. If you’re satisfied with the offer, proceed to the next step.
Step 5: List your gift card for sale
- Follow the platform’s instructions to list your gift card for sale. This may involve creating an account or providing additional information.
Step 6: Wait for a buyer
- Once your gift card is listed, wait for a buyer to show interest. This may take some time, depending on the demand for your specific gift card.
Step 7: Complete the sale
- When a buyer is found, follow the platform’s instructions to complete the sale. This may involve shipping the physical gift card or providing the gift card number and PIN.
Step 8: Receive payment
- After the sale is completed, you’ll receive payment from the platform. This can be in the form of cash, a bank transfer, or a different gift card, depending on the platform.
Remember to be cautious when selling gift cards online and only use reputable platforms. Always read the platform’s terms and conditions and be aware of any fees or restrictions before listing your gift card for sale.
For Your Help Complete Guide On To Sell At Buysellvouchers.com
This site is taken as an example to help you!
Buysellvouchers.com which has proven itself to be a reliable and trusted platform when it comes to trading gift cards. You can buy, sell and redeem gift card codes for a variety of brands through Buysellvouchers. Buysellvouchers offers the most competitive fees across the similar platforms and strives to achieve buyer and seller satisfaction. The current seller fee is only 1%. On similar platforms, it is not lower than 5%.
Popular categories and products
Key categories include gift cards, games, VoIP services, restaurants, and software. Among the most sought-after products are Razer Gold, Free Fire Diamonds, and Mobile Legends for gaming enthusiasts. Gift card options like iTunes, Amazon, and Steam are also highly popular. Additionally, gamers frequently purchase Xbox, PlayStation, Roblox, and Nintendo products. This extensive selection ensures that users can find exactly what they need, whether for personal use or reselling purposes.
How to add a product for sale to the Buysellvouchers platform
A. Account setup and verification process
To create an account on BuySellVouchers, click on the Register button at the top.
After that, you can either Sign Up using your existing Google account or alternatively create your own unique BuySellVouchers account by entering a valid email address, a username and password.
After you input your details and click on the Sign Up button, you will then be asked to verify your email by clicking on the link you just received in your email address. Do that and you’re all good to go.
B. Listing your gift cards for sale
To list a product for sale on BuySellVouchers, follow these steps:
- Click on “Dashboard” from your profile.
- Go to the Profile tab.
- Click on the Start Selling button.
- Complete the verification and then go to the My Products tab.
- Click on My Products.
- Select Add New Product.
- Select Add New Product. Follow the instructions and add all required information related to the product (Name, Category, Price, Description, Image).
- Specify the payment methods in which you want to receive payment from the buyer.
- Enter the product codes and save them by pressing the “Save” button.
The product has been added successfully. Now, you just need to wait for buyers. Initially, you’ll need some patience as new sellers tend to attract purchases more slowly. However, as your reputation and ratings improve, you’ll see an increase in the number of buyers more quickly.
Withdrawal options
Buysellvouchers.com provides a variety of convenient withdrawal options to suit different preferences and needs. Users can choose from several popular cryptocurrencies, including Tether TRC20 (USDT), Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), DAI (BEP20), USD Coin TRC20 (USDC) and USD Coin ERC20 (USDC). Additionally, for those who prefer e-currency methods, Perfect Money is also available. This wide range of withdrawal options ensures that users can efficiently and securely access their funds, making the trading experience on Buysellvouchers.com both flexible and user-friendly.
Final words
The gift card market in the UK is booming and expected to grow even more in the coming years. If you’re looking to sell gift cards, you can either set up a physical store or go online. For a physical store, consider your location and costs. Online, you can sell through your own website or different platforms. So, whether you prefer a local or online approach, there’s a way for you to tap into the thriving gift card market in the UK.