Follow Yahoo Finance
Wed, Dec 24, 2014, 12:42pm EST - US Markets close in 3 hrs and 18 mins
Wal-Mart tests gift card exchange
Wal-Mart letting shoppers trade gift cards from other chains for Wal-Mart credits
By Anne d'Innocenzio, AP Retail Writer
1 hour ago
The exchange may send more shoppers to the website of the world's largest retailer.
It's a test program, but if it's successful, Wal-Mart Stores Inc. said the card swap could become a permanent service. Wal-Mart spokesman Ravi Jariwala said the chain doesn't have specific metrics to evaluate that but will watch how shoppers react.
Shoppers won't get the full value of their gift cards to use at Wal-Mart. For example, with Amazon.com, customers can redeem up to 95 percent, while for Staples that figure is up to 90 percent and for Gap, up to 85 percent. For some brands, a Wal-Mart gift card will be worth just 70 percent of the original card.
Up to about $1 billion worth of gift cards will go unused this year, according to CEB TowerGroup, a consultancy. That's because recipients either lose them or can't figure out what to buy.
"We recognized that this was an opportunity," said Jariwala. "A large number don't get redeemed. We figured this was a good way to get gift cards in the hands of more customers."
He said that 95 percent of Wal-Mart holiday cards are typically redeemed by February.
Wal-Mart gift cards are the most sought-after on CardCash, the country's largest gift card exchange website, said CardCash CEO Elliot Bohm. CardCash is Wal-Mart's partner in the program. Financial terms of the deal weren't disclosed.
To exchange a card, go to http://walmart.cardcash.com and input your information. The Wal-Mart eGift cards should be emailed to you within an hour.
_____
Follow Anne D'Innocenzio at http://www.Twitter.com/adinnocenzio
Rates
Recommended for You
Keurig recalls 7.2 million single-serve brewers, stock falls
(Reuters) - Keurig Green Mountain Inc said on Tuesday it was recalling about 7.2 million single-serve brewing machines because they could overheat and spray hot liquids on users.Reuters- Globacom LimitedSponsored
Declare Your Style
Entertain your callers with millions of great Tunes from Globacom. Text 100 to 7728. Get Yours Today. Cuba says it has a right to grant asylum to US fugitives
HAVANA (AP) — Cuba said Monday that it has a right to grant asylum to U.S. fugitives, the clearest sign yet that the communist government has no intention of extraditing America's most-wanted woman despite the warming of bilateral ties.Associated PressRussia Moves to Stave Off Panic Among Depositors After Rescuing Bank
After arresting a decline in the ruble, Russia is now trying to avert a banking crisis. Lawmakers rushed legislation through the lower house of parliament today allowing the Deposit Insurance Agency to ...BloombergIndia hikes insurance investment cap, bypassing lawmakers
India's cabinet on Wednesday approved an executive decree to hike foreign investment in the funds-starved insurance sector, bypassing squabbling lawmakers to push ahead with economic reforms. The ordinance, a rarely used measure, raises the foreign direct investment cap in insurance companies to 49…AFPProbe fails to link IRS scandal to White House
WASHINGTON (AP) — A House Republican investigation faults senior IRS officials in the mistreatment of conservative groups that applied for tax-exempt status, but could find no link to the White House, according to a report released Tuesday.Associated Press- LumositySponsored
Brain Training Games
Challenge your brain with games from Lumosity.com, the personal trainer for your brain. UBS Raises Flag on China’s $1 Trillion Overseas Debt Pile
UBS Group AG is flagging risks from China 's $1 trillion worth of unhedged foreign debt as forecasters see bets against the greenback unwinding in 2015. The world's second-largest economy is exposed to ...BloombergWhat Has Changed for Russia’s Vladimir Putin?
Dec. 23 -- Peterson Institute for International Economics Anders Aslund discusses the crisis in Russia and Russia, China relations.Bloomberg VideoThe Fed is heading for another catastrophe
Federal Reserve is headed down a familiar — and highly dangerous — path, writes Stephen S. Roach. The consequences could be catastrophic.MarketWatchRussia says U.S. scrapping steel trade deal raises WTO issues
LONDON (Reuters) - Russia has complained that a U.S. move to scrap a 15-year-old deal sheltering Russian flat-rolled steel producers from high import duties is inconsistent with World Trade Organization rules.Reuters- FacebookSponsored
Facebook® Account Sign Up. Join for Free Today!
Connect with friends and the world around you on Facebook. Sign up, it’s free and always will be. China highways bleeding money despite high tolls: state media
China is losing more than $10 billion a year from its expressways, state media reported on Wednesday, despite levying hefty tolls on the world's largest highway network. China spent 431 billion yuan ($69 billion) on building, maintaining and operating highways in 2013, but only took in 365 billion…AFPCould Russia back its currency with gold?
Russia's government could still be pushed into using its gold reserves to bolster the falling ruble, currency experts have forecast.CNBC’Tis the season for a stock market rally, but not for long
The Dow Jones Industrial Average’s annual seasonal pattern suggests the rally could last a few days longer, but investors should expect a happy start to 2015.MarketWatch52 mins ago10 habits of debt-free people
Did you resolve to get debt-free in 2014? Here are characteristics you can copy to live within your means.MarketWatchHow This Grade-School Dropout Broke Israel's Food Cartel
Four decades ago, Rami Levy arrived every weekday morning at dawn to hawk produce at Jerusalem's open-air market. The work wasn't lucrative, but as a school dropout from a poor family, he couldn't complain. ...BloombergUnions make push to recruit protected immigrants
CHICAGO (AP) — Unions across the U.S. are reaching out to immigrants affected by President Barack Obama's recent executive action, hoping to expand their dwindling ranks by recruiting millions of workers who entered the U.S. illegally.Associated Press17 mins agoRussia in offer to help firms with foreign debts
MOSCOW (AP) — With inflation showing clear signs of picking up, Russia's central bank said Wednesday it will look to help companies with their foreign debts — a move it hopes will ease the pressure on the national currency.Associated PressCramer: These Stocks Are Winners
From retail to restaurants, Mad Money host Jim Cramer is naming his top buys in the wake of the Dow hitting 18k.CNBC VideosWhat is the difference between dividends and capital gains?
Read about some of the differences between dividends and capital gains, the two primary ways of accumulating wealth through the stock market.InvestopediaJim Cramer's 'Mad Money' Recap: Here Are 10 Stocks to Buy on Strong GDP Data
Kimberly-Clark, Walgreen and Starbucks are among Cramer's winners on today's GDP number.TheStreet.comFrom Vietnam with love: local caviar aims to make a splash
At a sturgeon farm on a pristine lake near southern Dalat town, a worker hoists a large white fish out off the water. Albino caviar can sell for up to $100,000 per kilogramme, compared to black Beluga caviar, a snip at just $5,000 to $10,000 a kilo according to industry figures. Duc, a jovial…AFP
No comments :
Post a Comment