In the ever-advancing terrain of digital commerce, gift cards have become a popular choice for anyone who wants to express a courteous way of appreciation. Offering you the freedom to choose your desired products or experiences, they have transformed the art of gifting.
Among the countless platforms serving this purpose, Raise is one of the well-known e-commerce platforms specifically designed for buying and selling gift cards.
In this blog post, we will explore how Raise functions as an e-commerce platform for selling gift cards, highlighting its unique features and benefits for users and the potential drawbacks of the platform.
Understanding Raise
Raise is an online marketplace founded in 2013 in Chicago which specializes in buying and selling gift cards. The platform integrates an extensive selection of gift cards from a wide range of retailers and brands.
The platform empowers sellers to list their unwanted or unused gift cards on the platform, allowing the sellers to set the selling price and providing them visibility for their listed gift cards to potential buyers. This feature enables sellers to convert their gift cards into cash, offering a practical and convenient solution for gift cards that may otherwise go unused.
In other words, it is an online marketplace where you can sell a gift card you don’t want, or buy a gift card from a major retailer at a discount. The following are some popular gift card brands found on Raise Marketplace; Best Buy, Lowe’s, Nike, Macy’s, Sears, Kohl’s, Airbnb, iTunes, Target, Walmart, Starbucks, and JCPenney.
Benefits of Using Raise for Gift Card Transactions
Asides offering you the opportunity to sell your unwanted or unused gift cards, it also provides a seamless and user-friendly experience, which caters to your selling needs while ensuring a satisfactory and efficient transaction process. Here are the key benefits you get when you Sell your Gift Cards on Raise:
1. Cash Value for Unwanted Gift Cards
It allows you to convert your unwanted gift cards into cash, granting you a practical solution for gift cards that may otherwise go unused. When you list your cards on Raise, you have unlocked their cash value, and this offers you financial flexibility and control over your gift card balances.
2. Visibility to a Large Market
Raise boasts an extensive selection of gift cards from various retailers and brands. You can easily find a suitable marketplace for your cards from popular stores, restaurants, entertainment venues, and more.
3. Freedom to Regulate Price
It empowers you to set any selling price of your choice for your gift cards. You may decide to offer your cards at face value or to provide attractive discounts to entice potential buyers. This flexibility allows you to strategize and optimize your gift card listings for quicker sales.
4. Verification and Authentication
The platform prioritizes the authenticity and value of listed gift cards. Through a rigorous verification and authentication process, it ensures that the gift cards hold the value claimed by the sellers. This commitment to validation instils trust in potential buyers, making them more confident in their gift card purchases.
5. User-Friendly Interface
It has a user-friendly interface that simplifies the selling process for all users. The platform’s intuitive design allows you to navigate effortlessly and list your gift cards with ease, even for individuals new to the concept of gift card exchanges.
6. Secure Transactions
It ensures secure transactions for both buyers and sellers. With reliable payment processing and data protection measures, you can conduct your gift card transactions confidently, knowing their financial information is safe.
Read Also: How to sell Gift Cards on E-bay
How Can I Sell Gift Cards on Raise?
Step 1: Prepare Your Gift Card for Sale
Before listing your card on Raise, take a moment to ensure it’s ready for sale. Check the card’s value and validity to avoid any surprises during the selling process. Verify the card’s balance to ensure it matches the amount stated on the card. Also, check for any expiration dates or usage restrictions that may affect its marketability.
Step 2: Create a Seller Account
To get started, you’ll need to create a seller account on Raise. Launch the website or app and complete the registration process. Provide the required information, including your contact details and preferred payment methods. Go ahead and agree to the platform’s terms and conditions to proceed.
Step 3: List Your Gift Card
With your seller account set up, it’s time to list your card on the platform. Access the seller dashboard and select the appropriate gift card category for your listing. Upload clear images of the card to make it more appealing to potential buyers. Make sure to provide accurate details, including the card’s brand, value, and any unique selling points.
Step 4: Set the Selling Price
Setting the right selling price is crucial for attracting buyers. First, you need to consider the market demand for the specific gift card and any competition on the platform. You can offer an attractive discount to make your gift card more enticing to potential buyers. Also, take advantage of Raise’s price suggestion feature to get valuable insights on pricing your gift card competitively.
Step 5: Showcase Your Gift Card
You can go ahead to craft a compelling description that highlights its value and unique feature and clearly state any additional benefits or bonus offers that come with them. Providing potential buyers with all the necessary information upfront can pique their interest and lead to faster sales.
Step 6: Payment and Fees
You need to familiarize yourself with Raise’s fee structure and understand the commissions and charges associated with gift card sales. This knowledge will help you set realistic pricing while ensuring you receive fair compensation for your card. Be aware of the available payment methods and choose the one that suits meet your interest.
Step 7: Promote Your Card Listing
To increase visibility and attract potential buyers, promote your gift card listing on social media platforms and among your network. Utilize Raise’s promotional features, such as highlighting your listing or offering special deals to garner more attention.
Step 8: Monitor Your Listing and Interact with Buyers
Keep a close eye on the performance of your gift card listing. Respond promptly to inquiries from potential buyers to provide excellent customer service and build trust. Engaging with buyers can lead to positive reviews and encourage more sales in the future.
Step 9: Complete the Sale and Delivery
Once a buyer purchases your gift card, finalize the sale promptly. Deliver the gift card securely and ensure a smooth transaction process. Pay attention to any delivery instructions provided by the buyer to ensure their satisfaction.
Step 10: Handling Returns and Issues
In the event of a return or any issues with the gift card, adhere to Raise’s return policy and guidelines. Address buyer concerns professionally and seek assistance from Raise’s support team, if needed, to resolve any disputes.
Step 11: Analyze Sales Performance and Feedback
It is necessary to evaluate the success of your gift card sales by analyzing performance metrics and trends. Learn from buyer feedback and reviews to identify areas for improvement and refine your selling strategies.
Step 13: Be Strategic
You need to adopt best practices to increase your chances of successful gift card sales. Always time your card listings strategically to align with peak shopping seasons and offer different denominations to cater to different buyer preferences. Leverage Raise’s marketing tools and features to optimize your selling potential.
To navigate the platform:
- Go to the Sell Gift Cards page and enter a store name. For Example Best Buy
If your store name does not auto-populate, the platform would reject that brand. If you proceed to attempt to sell, the card will be denied due to restrictions to sell.
- Enter the gift card serial number and pin(if any).
You may have to reveal the pin on the back of the gift card to list it.
- Enter the balance of the card.
If you are unsure of your balance, call the number on the back of the card or visit Raise’s balance check page to view other resources available to you.
The selling price will auto-populate based on the brand’s current or past listings. You can set your selling price by editing the price directly on this page.
- Directly below you will see the amount you are going to earn based on your current commission rate. Review this amount, and if satisfactory press Continue Listing.
If this is your first time selling a card, you will be prompted to provide a credit card to verify your seller account.
Potential Drawbacks of Selling Gift Cards on the Raise Platform
1. Fees and Commissions
Raise charges fees and commissions on every gift card sale, which can impact the overall profitability. While these fees contribute to the platform’s operations and services, you should carefully consider the costs involved and price their gift cards accordingly to ensure a satisfactory return.
2. Rigorous Verification Process
It employs a rigorous verification process to ensure the authenticity and value of listed gift cards. While this verification adds to the platform’s credibility, sometimes, it causes some delays in listing approval, potentially impacting sellers who wish to list their gift cards quickly.
3. Gift Card Restrictions
Certain gift cards listed on Raise may come with usage restrictions or limitations imposed by the issuing retailers. Whenever you want to buy, carefully read the terms and conditions of the gift card before purchasing it to ensure it meets your specific needs.
4. Market Competition
Sometimes, due to the popularity of Raise as a gift card exchange platform, sellers face significant competition in certain categories. This could lead to longer listing durations or the need to adjust selling prices to attract buyers effectively.
5. Process of Redemption
For buyers, the process of redeeming gift cards purchased on Raise may vary depending on the retailer or brand. Some buyers may encounter issues during the redemption process if they are unfamiliar with the retailer’s redemption procedures.
6. Limited Support for International Sellers
Raise primarily caters to users within specific regions, which may limit the participation of international sellers. Sellers residing outside the platform’s supported regions may face restrictions or limited access to certain features.
Is There an Alternative Platform to Sell Gift Cards?
While Raise excels in its system, it’s essential to explore other gift card marketplaces as well. By comparing different platforms, you can identify unique features and benefits that suit your specific choice.
If you are in Nigeria, you can conveniently sell your gift cards on Snappy Exchange. Our platform allows you to trade gift cards, trade cryptocurrencies, buy airtime, data and pay bills. It is available for both web and mobile users.
Some of the Benefits of Selling Gift Cards on Snappy Exchange are:
1. User-friendly interface
At Snappy Exchange, we have a good understanding of the gift card market both locally and internationally. That is where we make informed decisions; based on how the system thrives. Our platform offers you a user-friendly interface with which you can easily navigate to sell even if you are new to the concept of gift card sales.
2. Instant Funding
Our funding, is very swift, in less than 10 minutes and our orders are processed with speed, no wonder our customers have a popular saying that, ”Snappy Exchange is the Grandmaster Of Instant Funding”.
Once you complete any order, you receive your payouts without delays.
3. Secured Transaction System
You won’t need to worry about the personal information you provide on our platform because we have implemented ways to keep them safe from third parties.
Also, all our transactions are nowhere near the scam zone because we have a reputation to uphold.
4. Snappy Token
We have a functional reward system made up of various value-added services and this is one of them. You will this special token from us when you become a loyal customer of our brand. This token can be converted to real cash which you can withdraw.
5. Unlimited and Responsive Customer Support
We understand that prompt response to a customer means a lot in business and that’s why we have a functional 24/7 customer support system on all our platforms. You can Contact Us at +2348156010101 or [email protected].
We are available every day of the week; that’s why our customers refer to us as the Customer-centric Brand.
6. Referral Bonuses
We also reward our customers with bonus points for every referral who completes a sale order on our platform. The more completed order referrals you share, the more cash rewards you receive from us which you can withdraw.
7. Amazing Rates
Our rates are amazing rates and second to none. This is one of our stand-out features. Our trading rates are comparatively the best as affirmed by our customers.
Indeed, we are the best alternative for a seamless experience to sell your gift cards in Nigeria because of the simplicity attached to our transactions from the registration process to the swift receiving of your funds.
The following are the steps to register:
- Visit the Snappy Exchange website or download the mobile App.
- Click on the Register bar at the upper right part of the website.
- After the registration process, go ahead and Login.
- Click on “Sell Gift Cards”.
- Click on the image of the gift card you want to sell.
- Select the country and indicate the form of the card; physical, E-Gift Card, etc.
- Enter the amount you want to sell
- Enter your card details and upload a high-quality the image
You will be credited within 2-10 minutes. You can go ahead and withdraw it from your Snappy Exchange wallet.
Conclusion
While Raise offers a valuable platform for selling gift cards, it’s essential to be aware of the potential drawbacks. Considering these factors and understanding the platform’s terms and conditions can help you to make informed decisions and navigate the gift card marketplace effectively on Raise.
Also, in Nigeria, Snappy Exchange is your no.1 brand for all your gift card sales. We understand the probability of drawbacks occurring during your gift card sales which is why we have built a more secure user-friendly interface to eliminate those challenges.
Whether you are a newbie in gift card sales or not, you can conveniently navigate our platform to sell your gift cards while maximizing your profit even if you just have a smartphone.
.
