Whenever I buy something online, I look to try to reduce the price of the item as much as possible. As a consumer, there are a variety of tools you can use to be a savvier shopper. Most consumers know to use a credit card with at least 1% cash back to reduce the price a small bit. Others shop online to avoid sales tax.
However, one trick I’ve used lately is buying store gift cards on the second hand market. If you’ve seen gift card industry statistics, they’re astonishing. There are billions of dollars lost each year in gift card value and several startups have stepped into the space because they sense an opportunity. The online buying and selling of gift cards is growing and that means opportunity not only for these startups, but savvy consumers.
How This Works
You can buy gift cards online for less than the face value of the card, which means more savings at the register or checkout screen. For example, with Mother’s Day right around the corner, you’re probably thinking about buying Mom some flowers. If you’ve been scoping out the various flower deals, perhaps you’ve settled on a bouquet from 1-800-Flowers. You’ve scoped out the coupons, you’ve checked all the partnership websites giving a small percentage off if you buy through their affiliate link, and now you want a little extra edge.
Buy a gift card online. It’s treated like any other form of payment, plus you can buy it with a credit card and still get the cashback! (incidentally, you can buy 1-800-Flowers gift cards online for 25%-30% off!)
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