One of the more common ways for consumers to spend Bitcoin is by buying gift cards from various retailers and outlets. Popular Bitcoin gift card services will often offer a small discount on every purchase. Giving consumers an extra incentive to spend digital currency. A recent survey by CardCash shows how Starbucks gift cards are a clear fan favorite, whereas Visa Gift Cards are far less preferable. Most of these trends seem to correlate with how consumers would spend USD balances on gift cards, though.
Everyone in the world will know the name Starbucks by now as this is the most popular coffee brand in the world. Not only do these shops sell coffee, but they offer a wide variety of snacks, sandwiches, and desserts as well. Although most people would assume only students and entrepreneurs frequent Starbucks locations, the CardCash statistics paint a different picture.
Although the majority of CardCash users will pay for gift cards in US Dollar, the company has recently launched their Bitcoin-only initiative, which rewards users with an additional 2% discount. Keeping in mind how all of the cards on this platform are sold up to 35% below the retail value, an extra two percent off can be quite beneficial.
If there is one trend apparent from their statistics, it is how much consumers value their Starbucks gift cards. This particular brand is topping the charts in both Bitcoin and USD orders, although the number of digital currency customers is far higher. In fact, they outnumber their USD-paying counterparts by three to one.
A similar trend can be noted for other brands as well, such as Walmart and Target. Both of these chains are on the list of “everyday shopping” for most US customers, together with Starbucks. It only makes sense to see these three emerge as the most popular gift card choices at CardCash.
Some of the less popular choices include American Airlines, Southwest Airlines, MasterCard, and Visa Gift Card. When consumers are looking for options to give something of value to friends as a gift, they will choose for whatever that person can use in the near future. Airline tickets and debit card gift cards are not on that list, by the look of things.
These statistics clearly show how offering a special discount for consumers paying in Bitcoin can boost overall sales and revenue. Albeit some people might argue an additional two percent is not worth all of the “trouble” of obtaining Bitcoin, there are a lot of people who seem to disagree with that statement.
It is important to keep in mind any purchase made on CardCash will have the balance of the gift card guarantee for up to 45 days from the time or purchase. This approach eliminates any concern consumers might have regarding stolen or fraudulent gift cards as those are bound to pop up on the secondary market at some point.
What do you spend your bitcoins on when buying gift cards/ And which service do you prefer to use? Let us know in the comments below!
Images courtesy of CardCash, Shutterstock
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