Tuesday, May 18th, 2010
Cardlimbo has just released the results of a survey of 789 people revealing that 65% of respondents had let a gift card voucher expire! In the wake of Mother’s Day, this means that tens of thousands of dollars of well intentioned gift card vouchers will be wasted. Mums, however, now have options if they have no intention of redeeming their gift card vouchers.

Cardlimbo.com.au is Australia’s first online store to buy unwanted gift card vouchers for Cash. Cardlimbo will buy gift card vouchers from individuals for over 70 different retailers. Sellers are presented with an instant cash quote for their unwanted gift card voucher and can choose to receive payment via cheque or bank transfer. This means consumers can sell for cash.

Cardlimbo.com.au CEO, Fergus Koochew, said that Cardlimbo meets a market need for a fast and secure channel to sell gift card vouchers, with the Cardlimbo survey revealing that 87% of respondents would like to be able to exchange their gift card voucher for cash.

Cardlimbo.com.au also allows consumers to buy gift card vouchers at discounts of up to 30% and donate gift card vouchers to charity. The validity of all gift card vouchers sold is guaranteed and transactions are fast, easy and secure.

The Cardlimbo.com.au survey results complement estimates made by Consumer Group Choice that 1 in 3 gift card vouchers are never redeemed – highlighting an incredible degree of wastage. “Consumers are missing out and retailers are pocketing the revenue without having to deliver on the goods or services.” said Mr Koochew.

The Cardlimbo.com.au survey also revealed why people fail to redeem their gift card vouchers.

The survey, conducted in conjunction with radio station Fox FM in Melbourne, found the most popular reason for failing to redeem a gift card voucher before they expire (with 27%) was that people simply forget they had it!

The second most popular reason was that 15% of gift card recipients didn’t want anything from the store from which they were entitled to receive their gift card.

Remarkably, a further 13% lost their gift cards. Another 10% found it too difficult to get to the store and 35% failed to redeem their gift card vouchers for other reasons.

Despite these astounding results, Cardlimbo CEO Fergus Koochew rates gift card vouchers as a practical and easy gift, particularly for time poor and last minute shoppers. Coles Group and Myer gift cards, for instance, are tremendously popular and useful. “The problem is with the flexibility of gift card vouchers and this is where Cardlimbo.com.au can help out” says Mr Koochew.


Contact Profile


Cardlimbo.com.au, a Melbourne based online retail company, has revolutionised the way local consumers use their gift card vouchers in the Australian market estimated at up to A$1 billion in annual turnover.

Cardlimbo.com.au is a true online one-stop-shop for gift card vouchers allowing consumers:
• to buy traditional and online gift certificates, buy gift cards and buy gift vouchers for online discounts of up to 30 per cent
• to sell unwanted gift cards and unwanted gift vouchers for cash
• to donate unwanted gift card vouchers to respected charities, such as PLAN Australia, Planet Ark and Barnardos
• to swap online and exchange gift card vouchers for other ones
Fergus Koochew
P: 0419136347
W: www.cardlimbo.com.au/


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