U.S. gift card business announces online operations in Canada.
GiftCardBin, Inc. is expanding its secondary gift card services into Canada. These services will include the ability to sell unwanted gift cards at local retail locations as well as purchasing discounted gift cards through their new site. The initial group of retail locations are currently open in Toronto's major metropolitan regions, with additional locations expanding across Canada by January, 2015.
"We have reached a new milestone over this past year by formulating strategic partnership that has allowed us to expand our services into Canada," said Michelle Kille, Director of Operations, GiftCardBin. "As we head into 2015, we will continue to enhance the guest experience of our website, while continuing to expand our presence in new Canadian neighborhoods."
The neighborhood locations that will service customers who want to sell their gift cards in 2014 include:
Winter 2014:
Hamilton, Kitchener, London, Mississauga, Niagara, Toronto, Waterloo and Windsor
Spring 2015:
Calgary, Edmonton, Halifax, Mississauga, Montreal, Vancouver and Winnipeg
According to First Data, more consumers in Canada reported purchasing gift cards in 2010 from 2009 and in 2012 there was about a 10% increase in gift card purchasing from the previous year. GiftCardBin has seen a surge in gift card sales which only reflects the growing 90 billion dollar gift card economy. In an age where convenience is king, gift cards are becoming increasingly acceptable and socially preferred. With the increase in gift cards sales, unredeemed gift cards are also on the rise. Reports now indicate that the unredeemed gift card market is valued at $30 billion.
