{"id":3542,"date":"2022-01-11T04:00:00","date_gmt":"2022-01-11T11:00:00","guid":{"rendered":"https:\/\/milesearnandburn.com\/?p=3542"},"modified":"2023-04-18T12:00:38","modified_gmt":"2023-04-18T18:00:38","slug":"what-happened-to-the-bestbuy-gift-card-market","status":"publish","type":"post","link":"https:\/\/milesearnandburn.com\/index.php\/2022\/01\/11\/what-happened-to-the-bestbuy-gift-card-market\/","title":{"rendered":"What Happened to the BestBuy Gift Card Market"},"content":{"rendered":"

Over the weekend there was a 4x fuel points promotion for Kroger stores<\/a> which usually causes BestBuy volume to crank up to an 11, but that didn\u2019t happen this time. Sure, there was some BestBuy buying capacity to go around in select circles, but only at roughly 15% capacity of what would normally be available. What happened? Two things:<\/p>\n

First, January is always really slow for gift card reselling and this year it\u2019s even slower than normal, likely due to supply chain issues that mean retailers aren\u2019t holding major sales.<\/p>\n

Second, BestBuy stopped giving refunds on lost and destroyed packages to accounts of suspected resellers starting sometime around Christmas. With approximately three percent<\/a> of packages lost, this means that less-crafty BestBuy resellers need to factor another loss into their cost of goods sold.<\/p>\n

With somewhere around a third to a half of those resellers not yet figuring out how to work around the reseller flag, BestBuy rates were reduced by about 1.5%. Yay efficient market, but boo for gift card resellers.<\/p>\n

Of course I have no idea how the BestBuy gift card market will actually look in the future, but based on watching BestBuy\u2019s growing disdain<\/a> toward resellers, I think the outlook for 2022 BestBuy gift card resale rates isn\u2019t as rosy as it looked in 2021. Go ahead BestBuy, prove me wrong. I dare you.<\/p>\n

\n
\"\"
BestBuy\u2019s Kitty Sanchez to resellers: \u201cSay goodbye to these, Michael\u201d<\/figcaption><\/figure>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Over the weekend there was a 4x fuel points promotion for Kroger stores which usually causes BestBuy volume to crank up to an 11, but<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_editorskit_title_hidden":false,"_editorskit_reading_time":1,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","footnotes":""},"categories":[53,15],"tags":[],"class_list":["post-3542","post","type-post","status-publish","format-standard","hentry","category-gift-cards","category-reselling"],"_links":{"self":[{"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/posts\/3542","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/comments?post=3542"}],"version-history":[{"count":4,"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/posts\/3542\/revisions"}],"predecessor-version":[{"id":7122,"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/posts\/3542\/revisions\/7122"}],"wp:attachment":[{"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/media?parent=3542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/categories?post=3542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/tags?post=3542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}