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I question whether the merchant is fine with everyone buying steeply discounted gift cards. That $165 card was a result of someone stealing $165 worth of produc
by biot 11y ago
I question whether the merchant is fine with everyone buying steeply discounted gift cards. That $165 card was a result of someone stealing $165 worth of product and returning it. Lisa then goes and buys the card for $120 and purchases $165 worth of product. Now Petco is out $330 of revenue (or whatever percentage as cost of goods), having received nothing in return. Doubtless they factor this in as a cost of business and raise the prices accordingly but it seems doubtful that they have a mischievous plan to dominate the competition via quietly condoning shoplifting+returns and then cornering the discount gift card market.
- gesman 11y agoThe problem here is not a gift card, the problem here is shoplifting. Naturally Petco does not want to repel gift card customers just because they cannot catch shoplifters. Once shoplifter succeeded - he can sell stuff on eBay, on Craigslist, via gift cards or just directly on the street. Gift card is just a convenience vehicle that Petco agreed upon to keep opened regardless of where merchandise came from. In fact many stores do ask my ID and address/phones numbers before accepting returns. It's hard to make millions with this type of theft (not fraud) model. After 3-rd return without receipt - pretty much every store will kick person's butt out of the store or call security/police.