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What if you've got gift cards this holiday season our next guest company it wouldn't mind taking them off your hands joining us now.
With how you could make some cash off of your gift cards is Gary -- he is CEO of plastic.
-- so Gary I mean I know we all do re gifting but this is this is one step beyond re gifting this is an idea of cashing in on your gift.
Personally how many people do this.
Well you know it's growing at -- very much -- and what we've seen in the past year is more more people are realizing that they actually can get cash for the gift cards they might be holding.
Our biggest you know issue we we have -- because generally is people don't realize that the gift cards that might happen -- sock drawer.
They can actually get cash for them and more more people are -- in the -- every day.
Now what kind of a cut do you guys take as I assume that's where you make -- your money in my right.
That's correct you -- what happens is someone might take -- Wal-Mart card for example.
And we'll give them ninety cents on the dollar -- a Wal-Mart cart and that more resell it for 9697.
Cents depending on the time of year so.
What happens is that consumer who has a card they do don't wanna use -- they they traded and thus we we actually take title card.
Give that consumer cash for -- a little bit more they wanted to Amazon gift card and then make we turn around and then resell it to someone who gets to go into that store with a discount.
So you're both the front end and the back end of this business it it it is your -- if you say Amazon.
Has there sort of a currency among cards the currency of Amazon is is better than others.
We always see that with a number of brands I mean what -- very hot right now on plastic jungle of the brands that you know -- hot for the holidays so Wal-Mart.
Target Amazon eBay.
Lows and then Home Depot also was well were were quite strong for us.
Macy's so really this kind of top brands that people want to you know get a hold of and then wanna go in and shop and what they can do with plus a jungle is taken by those cards and then go in and get a further discount when they go in and shop.
This is fascinating but -- which we we Amazon has the highest currency which has the lowest.
Well all you always find -- -- -- we called it a casual dining when people trade in an Applebee's -- Or maybe something from from kind of -- casual restaurant.
Those -- and then -- to be a little bit less.
And and and we resell them for a little -- and and that's just the nature of the supply demand of a given market -- you know you realize you could be revolutionizing.
The idea what currency is -- -- currency now this is taking on a whole different framework thanks to the work you're doing.
Well know what's amazing about gift cards it's a much bigger business -- I think because people generally realize it's about eighty to ninety billion dollars of gift cards.
Are issued every year.
And about 10% of it goes unused so it just sits and what we call you know the sock drawers of America people.
On average have about 300 dollars and every household of unspent aren't just pretty credible and I hate to tell you how many I've -- probably expired that have been in my -- Over the years finally I got I would gotta run but I how's your business doing.
-- really great I mean we've seen a lot of growth -- even just since Christmas Day traffic for -- -- up about a 150%.
And we've grown about five -- so far this year so it's it's been great and you know thanks for the opportunity come talk about plus a jungle more people that realize they can get captions.
For this gift cards this is great well and the more people realize in any economy you can make money if you think of the rights we absolutely you certainly about that Gary great congratulations.
Plastic jungle dot com and you were the man next at the idea congratulations and continued success.
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