The difference between cash and gift cards is a discourse that has dominated the digital trading space for some time. This harps on understanding the best way to receive and spend reliably and sustainably.
Gift cards are swiftly overtaking cash as the preferred form of acknowledgement in the workplace, which is not surprising given that cash has long been a standard option. Gift card programs for employee appreciation are gaining popularity and for a good reason. It’s the same rationale behind why most people give gift cards instead of cash as presents: gift cards give the giver a chance to adapt to the recipient’s preferences and interests.
Presently, everyone is obsessed with gift cards. It was the second most popular present to give someone in the United States in 2006. There doesn’t appear to be a better gift option as more businesses choose to offer gift cards. Nowadays, you may even find websites where you can earn gift cards online. Online gift cards are also available.
What Is The Difference Between Cash And Gift Cards?
1. Personalization
Everyone prefers receiving personalised gifts to a generic present. Often, an inherent advantage depicts a certain amount of individuality and demonstrates that the giver of the gift gave some consideration to your likes and dislikes. Gift cards like Sephora gift cards, Steam gift cards, iTunes gift cards, and Amazon gift cards are a few of the wide range of gift cards we have in the gift card market. In other words, there is a gift card for practically any consumer good, whether it be clothing or video games.
You can also make your gift cards unique by creating them with visually appealing photos or writing. For instance, an iTunes gift card can be given with a specific colour scheme and design, like a Pink Floyd template. As such, gift cards can broadly be individualised and used for entertainment, shopping, hotels, etc.
Meanwhile, the use of cash is devoid of the preference for the receiver. It is meant to serve as a monetary for the affordability of what it can cover over a certain time and space. Therefore, cash does not adequately represent the personality of the recipient(s) in most cases.
2. Special And Memorable
When was the last time you received cash as a gift, whether for a birthday or a wedding? Since this tends to be a recurring theme, you probably can’t move, but if it’s a gift card, you probably can. A gift card can be used anytime you like and exclusively for premium items in addition to being personalised. When we receive money, we typically spend it on other things.
Gift cards are significantly more remarkable because the giver must have given some attention to your preferences before buying them; this demonstrates their knowledge of you and their potential to extend relationships beyond their current state. So while gift cards bring an overwhelming satisfaction of a heart-cheering gift, cash only shows a conservative poise of meeting a want.
3. Additional Discounts
Your chances of receiving additional discounts from your purchase at a specific store rise if you have a gift card. For instance, when you have an Amazon gift card, you can stand a chance of enjoying amazing discounts being offered to customers using the Amazon gift card than other customers using cash for their purchases. Amazon occasionally offers discounted deals. Users of Amazon gift cards can get up to 60% off of some items. The mechanism was put in place expressly to encourage the use of gift cards.
4. Incentive
From a corporate perspective, gift cards are preferable to cash. Consumers prefer gift cards to cash as incentives, according to numerous studies. Gift cards were the most well-liked prize items in the product category, according to research by the Incentive Federation, which found that travel- and merchandise-related incentives were more alluring than cash. Approximately 70% of the respondents agreed that using items and gift cards rather than cash would enable them to create a more exciting and memorable program.
There is no greater gift than a gift card if you want to motivate someone. It not only makes for a far more memorable gift, but it also improves productivity at work. Gift cards serve as a bragging right and an incentive in workplaces. It only draws attention to an employee’s performance, but the employee can use a gift card instead of extra cash that would have gone toward paying bills. It is then safe to say gift card is far more discrete and professional when it is offered as a gift.
Also, the difference between cash and gift cards is the availability of a wide range of options for gift cards when it comes to giving gifts to the recipient. You can choose from gift cards that are tailored to specific products to access. In converse, cash might not necessarily be seen as an incentive because of the lack of its specifics in value.
5. Budgeting
Gift cards can be used to keep an eagle eye on your spending. You can purchase a gift card from a particular retailer to help you stop overspending there if you are habitual of impulse buying or spending beyond your budget.
For instance, you can get a $100 Sephora gift card to put your monthly clothing budget within that limit. This, in turn, makes it easier for you to set aside specific money for this purpose and prevents you from having to dip deeply into your cash every time you want to make a purchase, which could allow you to go over your budget.
Meanwhile, gift cards are always seen as prepaid cards with stored value, although most of their users sell them to make some cash. To this end, there is nexus of gift cards to money, even as the global gift card market continues to boom. So this begs the question, where can I sell my gift cards in Nigeria or Ghana?
Prestmit is the best gift card trading platform where you can sell various cards for the best gift card rates. Trading on this platform is fast, easy, and secure, with the customer-centric interface and security infrastructure to make your trade on the platform a relishing experience.
How To Sell Gift Card For Cash On Prestmit
1. Create a Prestmit account and log in to get started.
2. Click on “Begin Trade”.
3. Select “Sell Gift Card” to start your trade.
4. Select “Category” to indicate the gift card you want to sell.
5. Click on “Gift Card Type” to specify if you want to sell a physical gift card or an Ecode.
6. Enter the “Amount” of the gift card you want to sell. When you do this, the automated gift card rate calculator will give you the real-time exchange rate amount of your gift card in naira or cedi.
7. Upload the gift card image if you are selling a physical card, but you will have to enter the card details in the case of an Ecode.
8. Specify your preferred “Payout Method” to cash out the sale of your gift card.
9. You will receive payment immediately upon the successful confirmation of your transaction.
Conclusion
There is a wide range of differences between cash and gift cards because they serve varying purposes with a common goal. But gift cards help store cash value for a long time while managing our spending behaviour.
