PlasticVault Launches to Help Retailers Get Connected With Gift Card Holders, Increasing Redemption

Business Wire, Jan 14, 2008

Poll Shows Nearly One-Third of Consumers Received One or More Unwanted Gift Cards over the Holidays, but 75 Percent Would Use Them With Incentives

FRESNO, Calif. -- Plastic Jungle, the leading Web site for gift card exchanges and services, today announced PlasticVault, a gift card registry that helps retailers get connected with their gift card holders to increase redemption. With PlasticVault, retailers can reach a valuable component of their customer base through targeted outreach.

As gift cards gain in popularity, so do the challenges surrounding them. A recent survey conducted by Consumer Reports revealed that 27 percent of people who received gift cards as holiday gifts in 2006 still had not redeemed them - a value totaling $8 billion, which is more than double the annual losses from the $3.5 billion in debit and credit card fraud according to the National Retail Federation.

PlasticVault provides an effective and risk-free way for retailers to reach their gift card holders. With detailed data on consumers' gift card history, including the cards they possess as well as those they've bought, sold and traded, PlasticVault holds the key toward increasing gift card redemption.

"By providing the only dedicated third party gift card registry, PlasticVault offers targeted marketing unlike anything else in the industry and combines that with innovative programs and partnerships," said Tina Henson, founder and CEO of Plastic Jungle. "We are helping retailers get gift cards redeemed by creating exciting and new marketing opportunities that include text messaging and mobilized gift cards."

One in three people received unwanted gift cards over the holidays

According to a January poll conducted online by Plastic Jungle, nearly one-third of consumers said they received one or more gift cards over the holidays that they did not want. The same research also indicated that almost three out of every four consumers would be more likely to use an unwanted gift card if there was some sort of incentive.

PlasticVault not only allows retailers to deliver targeted messaging to their gift card holders, but also allows them to provide customers with a secure place to register and store unused gift cards in case they are ever damaged, lost or stolen. For more information about PlasticVault, please visit www.plasticvault.com or call (877) MY-JUNGLE.

Webinar discusses gift card trends

To hear Henson discuss more on this topic and other CRM issues with panelist Tim Toews, CIO for Office Depot, please visit: http://www.thecontentfirm.com/plasticvault-webcast-jan2008/ plasticvault.php4. (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)

About Plastic Jungle

Plastic Jungle is the leading Web site for gift card exchange and services -- whether users want to buy gift cards at substantial savings, sell them for cash, or trade pre-owned gift cards with others. Plastic Jungle guarantees all transactions and offers industry-leading features like PlasticVault that helps replace cards if they are lost, stolen or damaged, and instant alerts via text or email. It is free to list gift cards on Plastic Jungle -- users are only charged a 10 percent transaction fee when their gift card is sold or traded.