According to Gift Card Granny's analysis of its resale gift card exchange, iTunes, Amazon and Best Buy top the list of the most resold cards with Millennials cited as the most active resellers.The aggregator of an online gift card exchange features more than 340,000 discounted card deals on its site from a variety of major retailers and brands. The top 10 list of resold brands is based on data from the past year. Researchers at the company said the most common reasons for exchanging a gift card for cash "include receiving an undesirable brand or simply rather having money that they can spend anywhere. It has become a very popular practice."The number-one gift card brand resold was iTunes followed by Amazon and Best Buy. Wal-Mart came in fourth and was followed by Target, Starbucks, Apple and Macy's. Nordstrom was ninth, and Kohl's finished the list at number 10.The gift card industry is pegged to gain 6 percent this year to nearly $150 billion, which compares to $97 billion in 2007, according to WalletHub — which sees the market swelling to $160 billion in 2018. Christmas and birthdays garner the most share by occasion for giving gift cards, WalletHub also noted.Authors of the Gift Card Granny analysis report said that while iTunes is the most popular gift card in terms of reselling, "its return value is on the lower end of the payout spectrum at 65 percent or $65 when reselling a $100 iTunes gift card for cash. Gift cards for the grocery giant Safeway yielded the highest return rate at 92 percent." Safeway was not in the top 10 list resold cards."Supply and demand are the largest determining factors in how much an online exchange is willing to pay you for your card," authors of the report said. "The general rule of thumb is that exchanges will pay more for rarer brands that they have less of and are in higher demand with consumers as a result. Conversely, you will be offered less money for your gift card if it is a commonly resold brand and the exchange's inventory levels are sufficient."By state, the researchers said that California, Texas and New York accounted for a combined 34.3 percent of gift cards resold in the U.S. due to the states larger populations. For More Business News From WWD, See:Five Below’s Recipe for Disruption: Fast and Fun Product and PricingAmazon, Wal-Mart and Apple Top List of Biggest E-commerce RetailersFashion’s Future Supply Chain Is Integrated, Fluid and Designer-Centric
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)
@denimdaysfestival, which initially launched in Amsterdam in 2014 and has since expanded to New York, is heading to Nashville for the very first time. The two-day festival, which will take place in November, will feature brand activations, hands-on workshops by artisans and denim mills, a vintage market, live entertainment, and local food and drinks. Get all the details on WWD.com. #wwdnews #wwdfashion
Later this month, the popular “Diana: Her Fashion Story” exhibit will be reopening. @historicroyalpalaces, the charity that manages @kensingtonroyal, has been working towards adding new, never-before-seen garments to the exhibit, including this dress created by Gianni Versace for a fund-raising dinner at the Museum of Natural History in Chicago. The exhibit will reopen on April 26 at Kensington Palace @wwdfashion
“Our family has always been engaged and interested in the world around us. [My brothers and I] were always encouraged to have our own opinion at a young age, which is not always something a child is asked — especially to have an opinion with reasoning behind it,” said @yarashahidi on becoming an activist. We caught up with the 18 year old last week, where she talked about her road to acting, how “Black-ish” led her to start conversations about identity and more. Head to WWD.com to read what she had to say #wwdeye (📷: @chelsealaurenla)