{"id":4972,"date":"2022-07-29T04:00:00","date_gmt":"2022-07-29T10:00:00","guid":{"rendered":"https:\/\/milesearnandburn.com\/?p=4972"},"modified":"2023-04-18T11:31:21","modified_gmt":"2023-04-18T17:31:21","slug":"state-of-the-bulk-gift-card-market","status":"publish","type":"post","link":"https:\/\/milesearnandburn.com\/index.php\/2022\/07\/29\/state-of-the-bulk-gift-card-market\/","title":{"rendered":"State of the Bulk Gift Card Market"},"content":{"rendered":"<p>As July closes, let\u2019s chat about the current state of the bulk gift card markets in light of the effectively endless 4x promotions that Kroger\u2019s run this summer. First, what\u2019s been driving the markets?<\/p>\n<h4>Catalysts<\/h4>\n<p>The noteworthy events for bulk gift card reselling in the recent past are:<\/p>\n<ul>\n<li>Bulk buyers overbought fuel points in July<\/li>\n<li>Fuel points capacity for August is probably going to be muted by the July over-supply<\/li>\n<li>BestBuy has started to run sales that resellers are interested in, reviving the market that\u2019s been <a class=\"ek-link\" href=\"https:\/\/milesearnandburn.com\/index.php\/2022\/01\/11\/what-happened-to-the-bestbuy-gift-card-market\/\">dead since January<\/a><\/li>\n<li>Bulk buyers had shifted to selling Apple goods overseas<\/li>\n<li>For most of Q1 and the start of Q2, Home Depot had the most buyer demand<\/li>\n<li>Many gift card resellers still have 6x or 11x capacity from <a class=\"ek-link\" href=\"https:\/\/milesearnandburn.com\/index.php\/2022\/06\/23\/american-express-employee-card-offers\/\">AmEx 99 employee offers<\/a> and can thus make lower card and fuel points rates profitable<\/li>\n<\/ul>\n<h4>Where We Are<\/h4>\n<p>Based on that, you can probably guess where the markets have gone, but let\u2019s write it out for posterity (or something):<\/p>\n<ul>\n<li>Fuel points rates have dropped between 25% and 33% this month<\/li>\n<li>BestBuy rates have been slowly climbing from approximately 92% to 94%<\/li>\n<li>Apple rates have been holding at between 93% and 94%<\/li>\n<li>Home Depot rates have fallen to around 92%<\/li>\n<\/ul>\n<p>Other standbys like Marshalls, Nike, Foot Locker, and Neiman Marcus rates have stayed relatively constant, I think because buyers tend to focus less on these brands.<\/p>\n<h4>The Future<\/h4>\n<p>In Q3 of last year, BestBuy rates crept up to 97% for bulk resale which made most Kroger 4x events quite profitable. Assuming BestBuy starts discounting its inventory for back-to-school sales, or because there <a class=\"ek-link\" href=\"https:\/\/www.npr.org\/2022\/07\/28\/1113649843\/gdp-2q-economy-2022-recession-two-quarters\">may be a recession<\/a>, I expect rates to climb to the same ball-park as they did last year. When that happens, shifting buyer interest will cause HomeDepot and Apple rates to creep up even higher too.<\/p>\n<p>Finally, big earnings from AmEx 99 employee card offers will largely be exhausted, which will remove many buyers from the market and probably also push up rates.<\/p>\n<h4>Crystal Ball: Efficacy<\/h4>\n<p>How likely are my predictions to come true? That\u2019s a great question, I\u2019m so glad you asked. Based on my past performance and in the spirit of <a class=\"ek-link\" href=\"https:\/\/www.youtube.com\/watch?v=IKiSPUc2Jck\">Brian Fantana<\/a>, \u201c50% of the time, I\u2019m right every time\u201d.<\/p>\n<div class=\"wp-block-image is-style-editorskit-rounded\">\n<figure class=\"aligncenter size-large is-resized\"><img decoding=\"async\" alt=\"\" class=\"wp-image-4973\" sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"https:\/\/milesearnandburn.com\/wp-content\/uploads\/2022\/07\/IMG_5399-1024x984.png\" srcset=\"https:\/\/milesearnandburn.com\/wp-content\/uploads\/2022\/07\/IMG_5399-1024x984.png 1024w, https:\/\/milesearnandburn.com\/wp-content\/uploads\/2022\/07\/IMG_5399-300x288.png 300w, https:\/\/milesearnandburn.com\/wp-content\/uploads\/2022\/07\/IMG_5399-768x738.png 768w, https:\/\/milesearnandburn.com\/wp-content\/uploads\/2022\/07\/IMG_5399.png 1200w\" width=\"420\"\/><\/figure>\n<\/div>\n<p class=\"has-text-align-center\" style=\"font-size:14px\">Pictured: My predictions workspace.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As July closes, let\u2019s chat about the current state of the bulk gift card markets in light of the effectively endless 4x promotions that Kroger\u2019s<\/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":2,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","footnotes":""},"categories":[53],"tags":[],"class_list":["post-4972","post","type-post","status-publish","format-standard","hentry","category-gift-cards"],"_links":{"self":[{"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/posts\/4972","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=4972"}],"version-history":[{"count":4,"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/posts\/4972\/revisions"}],"predecessor-version":[{"id":6979,"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/posts\/4972\/revisions\/6979"}],"wp:attachment":[{"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/media?parent=4972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/categories?post=4972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/tags?post=4972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}