Have you ever gone through your wallet one day and cursed yourself when you discover a multitude of expired and unredeemed gift cards and coupons? Or have you purchased an online daily deal offer off Groupon but never did claim the offer? Well, many of us have. In fact, it is said that around US$20 billion worth of gift cards and coupons go unredeemed each day, spelling a waste of consumers’ hard-earned cash while racking huge profits for merchants. Such wastage has prompted the development of online services like CouponTrade.com (www.CouponTrade.com), a social coupon marketplace where you can buy and sell daily deals and gift cards.
Chicago, Illinois-based CouponTrade.com works essentially like an online swop meet for discount coupons and gift cards, so users can easily buy and sell their unused deals for cash. “We’re aiming to create the web’s most extensive marketplace of gift cards, daily deals, coupon codes, map views, digital coupons and more, to empower consumers with exceptional savings to help them stretch the value of a dollar,” says CEO and co-founder of CouponTrade.com, George Bousis. “By developing innovative technologies to support this new social shopping model, it’s our goal to put purchase power back into the hands of the people as a way to help boost the economy.”
“CouponTrade.com gives savvy deal hunters the chance to scalp the daily deals,” adds CouponTrade.com COO and co-founder Bradley Wasz. “At CouponTrade.com, you can learn to identify the ‘hot deals’ then flip them to make a profit. Some users have actually posted deals worth $45 and sold them for $85!” Indeed, the ability to earn — or save — a few dollars looks to be a powerful incentive for visitors to the site, which has attracted visitors from more than 60 countries since its launch in May, with almost US$100,000 worth of gift cards and discounts sold.