Edition 1 - StateSUN 09 MAY 2010, Page 027
Mother's Day 2010 - Cash now on cards
By DAVID NANKERVIS
MUMS unhappy with the gift cards they receive today will now be able to turn them into cash.
That's because a couple of enterprising companies have just launched on-line trading sites allowing people to buy and sell the hundreds of millions of dollars' worth of vouchers which currently go unredeemed each year.
And it's not just mums who will enjoy the option of cashing in their cards, with the internet sites expecting to be very busy around Father's Day and Christmas.
Consumer group Choice estimates up to 30 per cent of the $1 billion worth of gift vouchers given each year are never redeemed, creating a huge windfall for retailers.
A survey by Cardlimbo, one of the firms now offering a trade in gift vouchers, found forgetfulness was the main reason (27 per cent) given by respondents as to why vouchers are not used.
But the second most common reason (15 per cent) was the recipient did not want anything from the store which issued the card.
Illus: Photo (color): selection of retail store gift cards
Section: NEWS
Source: Sunday Mail newspaper, South Australia, Sunday 9th May, 2010, page 027
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