I like to think of this as "discounted cash."
People still love to give gift cards as gifts. Others (like myself) would love a place to sell them and get cash. Ta-da... Giftcard Zen. Save money at all major retailers.
Yes, there are other gift card sites out there... This one is unique. AMAZING customer service (really is a true differentiator), 100% satisfaction guarantee, innovative technology (more on that to come), and did I mention I just saved 7% at Target? Adds up!
This is a business built on trust... the GC Zen team is more trustworthy than the Care Bears.
@brianbreslin great question. It depends a lot on the brand, and on demand and supply for that brand. We verify gift cards & balances with the merchants and we guarantee all of our cards for 1 year, the longest guarantee in the industry.
What makes this unique vis a vis the other gift card swapping sites? Its an intuitive idea, but seems like a crowded space.... Also, how seasonal is this business?
@jakedvp I think the biggest difference is that we care deeply about our customers and it shows. In a sense we’re selling discounted cash - a simple transaction. Who needs customers service? But a business wins or loses based on how it handles questions, problems or concerns. Our phone number is front and center and we recently opened up on Saturdays to handle holiday traffic.
The business is definitely seasonal, we’ll do half of our business in the last quarter of the year. Then starting in January the business gets another boost from all the folks who got a gift card from a well-meaning relative, but they don’t shop there so they’ll sell the card to us and buy something they want more. Thanks for the question!
@dragushan I like the idea, I often Google for coupon deals before making web purchases, this seems like a more certain discount. Two questions for you: 1) Can you combine these discounted GCs with coupons to maximize your discount on most sites? and 2) Where do you acquire most of your gift cards from?
Thanks!
@andrew_dietrich Absolutely, gift cards can be "stacked" along with coupons to maximize the savings. Most of our customers do just that. We get most of our gift cards from people who have been carrying them around in their wallet or left them sitting in a kitchen drawer. Once people decide they'll realistically never use that gift card, it's an easy and obvious move to turn it into cash.
Carpool VC - S2E3, Prerna Gupta, Founder/CEO of Hooked
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