[MZ Tech]⑨ Birthday Starbucks Gifticons Received in Abundance Also Make a Nice Allowance

Gifticon Trading Platform Users Increase
Difficulty Disposing Gifticons Sold
Purchasable at 10~30% Discount

Editor's NoteFinancial technology for the MZ generation (Millennials + Generation Z) is both an investment and a culture. While the goal is to make money, when attention rises among peers, everyone rushes to 'certify' their success. This is why resale tech (reselling scarce items at a premium) and fractional investment (multiple people investing together in one asset and sharing the profits) have become popular. We explored the investment methods of the MZ generation, who engage in financial technology with ingenious approaches that older generations could never imagine.

As high inflation continues, more people are trading gifticons (mobile gift certificates) on secondhand platforms to save even a single penny. They sell unwanted gifticons on these platforms to earn a small amount of pocket money. Some even coined the new term 'giftech,' combining 'gifticon' and 'fintech,' to describe this phenomenon.

Gifticon Trading... Popular Among 'Frugal Tech' Enthusiasts

[Image source=Pixabay]

Recently, gifticon trading has become active among 'frugal tech' enthusiasts who prioritize rational consumption. They reduce their financial burden by buying and selling mobile coupons they own through gifticon secondhand trading apps.

On gifticon trading platforms, users mainly trade gifticons they do not use. Sellers offer unwanted gifticons at slightly discounted prices compared to the original price through the app. Buyers can purchase gifticons registered on the app at prices lower than the retail price.

For example, the in-store price of Starbucks' 'Cafe Americano T' is 4,500 KRW, but on gifticon secondhand trading platforms, it can be purchased for 3,890 KRW, which is 14% cheaper. Also, BBQ's 'Golden Olive Chicken + Cola 1.25L,' worth 22,500 KRW, is currently sold at 19,880 KRW, 12% cheaper. Ultimately, this benefits both sellers and buyers.

Office worker Kim Juhyun (28), who frequently uses gifticon secondhand trading platforms, said, "I received CGV movie tickets, popcorn, and cola as a birthday gift, but since there were no movies I wanted to watch, I sold them through the gifticon platform." She added, "I earned about 18,000 KRW through this."

She continued, "Although I sell them cheaper than the original price, it becomes a small source of pocket money, so I use the

[Image source=Pixabay]

(gifticon trading platform). When I need a specific gifticon, I also buy it at a price lower than the market price," she added.

Increasing Number of Gifticon Secondhand Trading App Users

In particular, gifticon trading platforms differ from general secondhand trading platforms in that no separate conversation or bargaining process is required between sellers and buyers. Also, since it is not a peer-to-peer transaction, the trustworthiness of transactions is relatively high. Initially, these platforms grew mainly among some 'thrifty groups,' but as inflation soared, the number of platform users also increased accordingly.

The three leading gifticon secondhand trading apps?GIFTISTAR, NikonNaekon, and Palrago?had about 230,000 monthly active users (MAU) in January 2021, but this number surpassed 470,000 in November last year. Various gifticons usable at cafes, restaurants, movie theaters, fashion and beauty stores are traded on these platforms.

The growth of the domestic gifticon market has also had an impact. According to the 'January Online Shopping Trends' released by Statistics Korea, the transaction amount for 'e-coupon services' in January increased by 16.8% year-on-year to 709.8 billion KRW. Following November (730.9 billion KRW) and December (769.8 billion KRW) of last year, it exceeded 700 billion KRW for three consecutive months. This appears to be the result of steadily increasing demand due to the convenience and variety of 'gift giving.'

Professor Lee Eunhee of Inha University's Department of Consumer Studies said, "As prices rise, more young people are choosing 'frugal tech' to prepare for the future." She added, "One representative method of frugal tech is gifticon secondhand trading, and this trend is expected to continue."