Not quite OT - but CNBC is doing some packages this morning on how gift cards are “fueling” the opioid crisis. Now, they aren’t using the system legally, of course, but it could very well impact the legal GC industry. The way it works for the addicts is that they steal an item, then return it for a gift card, and then purchase their drugs with the GC (of course for a drastically reduced value - sometimes as little as .25 on the dollar). The dealers then sell the GCs through Raise, Cardpool, etc.
Home Depot is now changing their system so that refunds are only issued as same-store, in-store merchandise credits which are linked to the returner’s personal information, such that in order to use it, you have to provide your DL.
It’s a HUGE, costly problem for these retailers, not to mention the social responsibility aspect. And as I said before, at this point it seems to only be associated with returns as described above. But, I think it’s important to be aware of this and consider how it may impact the overall GC industry.