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And this Christmas gift card sales expected to reach a record 28 billion bucks those plastic presents our number one in people's wish -- but.
What if you received one to -- you really didn't like.
-- next guest runs a website to swap out gift cards Bruce bowers CEO of plastic jungle dot com.
But -- when I heard this idea I thought there was a fantastic.
Idea tell us how works.
Well what we do is if you've received a gift card and it just isn't the right match for you.
We will offer to purchase that gift card for up to 97% of the value.
What will then do is verify the gift card bring it on to our website -- plastic jungle dot com.
And then someone who does want a shot that brand can come along and buy it also at a discount -- -- -- -- slightly.
Less discount and you sold it for us okay so in other words.
I is the gift card holder let's have a hundred dollar gift card what are my likely to get fort.
So it depends on the brand on -- could get up to 92%.
If you chose to be paid in cash.
If or if you had a deposit into your PayPal account.
If he chose to be paid out in in Amazon gift card he could receive.
Up to 97%.
You could expect to receive between eighty and 85% of the value of the card and do you buy the gift card before you sell orders it all on consignment field.
We do we buy it and the reason we buy this because we offer a secure service and we want to make sure -- -- the purchaser are actually protected.
So we actually take title to all the cards.
On and we will resell that card to you after -- verified the balance and and -- there -- there stores retailers that you you won't take.
Very few weeks stepped up to 400 brands and almost every national brand there's so few instances where.
We might not be able to verify the balance we -- -- those.
But I think almost any store that do you shop and and most Americans is wood shop on the national level we actually -- -- a lot of swapping of the -- this year vs last year but it is it is the trend growing.
Oh absolutely not only is the underlying gift card market growing rapidly.
But I think consumers are becoming more and more aware of the fact that these gift cards that are going -- -- have real value.
You know there's about a hundred billion in -- issued gift cards that'll be sold this year 68% and that we're going used in over time.
That's accumulated to about thirty billion dollars in unused values.
Consumers now understand that they have a choice.
And don't just have to maybe reluctantly shop at a retailer they don't favor and can actually get some real value from it so.
We think we offer a really valuable service that complements the growth.
In the market the result our business is growing very rapidly because what -- the big -- what do you see the most who comes across a website the most which which retailers.
Well you know we intend to see that the big national retailers.
A target Wal-Mart.
Best buy Home Depot we also see lots of iTunes cards and we see on Starbucks for instance the -- we tented track pretty closely.
To retail sales in the US we really reflect.
Reflect those sales pretty well look what food retailer goes under -- we are holding a whole bunch of gift cards.
Well we have a 100% guarantee so if that were to occur we would actually make good on that gift card so I can tell you how you fight if I swap -- gift card buy gift card it.
Whatever ninety cents on the dollar in the retailer goes bankrupt you will will make good on that that gift card it.
If you bought it from us we will actually guarantee the value of the card we guarantee -- we we actually verify all of the -- -- To make sure that the consumer has a great experience really kind of trusted marketplace and that's part of our guarantee how many it -- -- -- -- billion dollars in gift cards this year -- blue -- give us a sense of how big that the swap market is.
Well actually on some estimates say that this total -- -- gift card.
Maybe even bigger around a hundred billion.
-- probably in the secondary market which is what we -- our market -- it's it's gonna total around a hundred million this year.
But it's growing at triple digit growth we've seen that over the past few years and we expected to continue his great great brand idea Bruce Starr thank you so much it's plastic jungle dot com -- thank you Bruce.
Thank you very much and -- file this one under strange political.
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