Cardlimbo (SMART 100)

June 19, 2010 | By Anthill Magazine

131

Vote

The following SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity. More about the SMART 100.

This innovation initially came to life when…

This innovation initially came to life when my business partner and I recognised that Australians had almost no flexibility when it came to the use of gift card vouchers. We soon discovered that the market was worth about $1b and that 1 in 3 cards were never redeemed, representing an incredible waste. We wanted to provide a service that gave people the option to use gift cards as they wanted to. A market study demonstrated that similar services existed in North America but not yet in Australia.

WHAT & HOW

The purpose of this innovation is to…

The purpose of this innovation is to give Australian consumers the power to choose exactly how they want to make use of their gift card vouchers, saving Australian consumers hundreds of millions of dollars per year.

It does this by…

Cardlimbo does this by offering consumers an instant cash quote on their unwanted gift card voucher, providing consumers with the option to donate gift cards to one of three charity partners and enabling consumers to purchase gift card vouchers at a discount of up to 30%.

PURPOSE & BENEFITS

This innovation improves on what came before because…

This innovation improves on what came before us in Australia because it provides an instant cash quote on gift card vouchers, eliminating the need to find a buyer, and because it provides a guarantee on the value and validity of all sold gift card vouchers, eliminating fraud. Globally, we are the first to offer Australians this choice.

Its various benefits to the customer/end-user include…

Cardlimbo’s various benefits to the customer includes earning the customer cash, providing them a less onerous avenue for charity donations and saving them money on everyday purchases.

COMPETITIVE LANDSCAPE

In the past, this problem was solved by…

In the past, this problem was solved via private auctions and auction platforms such as eBay. Cardlimbo’s service, however, for the first time offers consumers instant cash quotes from over 70 retailer gift cards, a wide variety of gift cards to buy, guaranteed gift card validity and value and an avenue to donate the value of gift cards to charity.

Its predecessors/competitors include…

Plastic Jungle in the United States is a predecessor. We believe we have developed a superior and more user-friendly website specifically tailored to the Australian public’s needs.

TARGET MARKET

It is made for…

Cardlimbo specifically meets the needs of the 16- to 40-year-old Australian demographic, with a slight female skew. Customers are internet savvy and looking to save 5% – 30% on everyday purchases. This, however, is not our exclusive market segment as we have found all manner of Australians using our service. The Australian gift card voucher market is estimated at $1b per year and is growing at 20% annually (AMEX & ANRA survey Dec 2009), but up to 1/3 gift card vouchers go unredeemed each year (CHOICE).

DISTRIBUTION STRATEGY

It is available for sale through…

Cardlimbo is currently available exclusively for sale through Cardlimbo.com.au.

Our marketing strategy is to…

Our marketing strategy is to become the first place Australians think of to buy or sell gift cards. Market awareness is a critical success factor. We’ll actively engage customers through cardlimbo.com.au and social media for word-of-mouth, establish strategic partnerships to access customer databases and leverage public interest via press releases. Advertising will be used sparingly to generate continuity of awareness.

SUPPORTING IMAGES AND/OR VIDEO

SHOW YOUR SUPPORT FOR THIS INNOVATION

While the judging is now officially over, you can still show your support for this innovation in one of the following three ways:

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To check out the Anthill SMART 100 Readers’ Choice winner for 2010, click here.

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Carolyn_orme

fantastic service you offer, I am very impressed

[Reply]
Imut T.C.

smart idea which minimise wastage & environmentally friendly, well done!

[Reply]
Vic

Excellent comment, finally there is something like this in Australia. More choices for us.

[Reply]
Charles

This is an outstanding business concept and enables so much more flexibility for retail customers like myself (yes I am a shop-aholic). I have received numerous gift vouchers for stores that I don't really buy from. The ability to trade these cards for cash to get something I really want will change my life and the life of thousands of people like me!.

[Reply]
Anki

ooooh, i like!

[Reply]
Anki

think about redoing your logo though…. it looks like a 1990ies travel agency

[Reply]
Andy

I have used cardlimbo.com.au several times in the past 2 months to buy gift cards at a 15% discount. The service was quick and efficient each time.
And I agree that the concept is very innovative as it could save Australian consumers millions of $$

[Reply]
Radina

Had never heard about the website before (guess it's new)…. the concept seems great and truely innovative …it creates a completely new service which people in Australia will appreciate

[Reply]
DaniP

Great idea – taking the best of what exists in the U.S. version and adding some true innovations to the idea to deliver a leading practice concept and organisation. I also really value the community awareness side of the business and the opportunity it allows for the public to more easily support various charities. I can't even count how many gift cards I've received over the years that have lived forever after at the bottom of my bag – this concept makes productive and innovative use of those cards.

[Reply]
http://twitter.com/earthlinkdesign earthlinkdesign

What a great concept.Would not be surprised if the guys are Cardlimbo win this by a country mile. They look like that have really done us all a great service, for me I have used them several times and will continue to use them. Just love getting those alert for the cards I'm waiting for.

[Reply]
Lisa Marie

I love this service, they are reliable, and best of all “I SAVE MONEY”!!!

[Reply]
Marco

Vey innovative concept …combined with a userfriendly website and good customer service… truely a winning combination. Good luck for your future!!!! Hopefully you will be able to grow this concept into a sizable business.

[Reply]
Arnold

This website is very informative and easy to use. Great idea and a very innovative concept.

[Reply]
Brywils

A great concept that finally makes gift cards far more attractive as a gift – I can get what I want!!

[Reply]
Justinechittick

Love the concept. I will definately be using cardlimbo when I get my usual Xmas giftcards this year.

[Reply]
Cecily

This is a great concept – I found the site very easy to use. A small discount is better than lining the retailers pocket with free cash.

[Reply]
Justinechittick Reply:
July 8th, 2010 at 9:35 pm
Thanks for your support Cecily – we could not have go this far without you!

[Reply]
JB

Love the idea. Saved me $$.

[Reply]
Shirley

Cardlimbo is a fabulous idea, make the most efficient use of gift cards. I personaly like the design of its website, all buttons look cute^_^Hope there will be more cards offered in the future, i will definitely purchase Myer and DJ cards at 10% discount!

[Reply]
Fergus Koochew Reply:
July 5th, 2010 at 11:46 pm
Thanks. We invested a lot of time and efforts in our website to make it very userfriendly. We currently offer more than 120 gift vouchers at discounts between 3% -25%.

[Reply]
Gisela

Love the business model. I used Cardlimbo in April and sold 2 David Jones gift vouchers for cash. Otherwise, they would have expired without being used. The concept seems to be very successful in the US too.

[Reply]
Alex Reply:
July 5th, 2010 at 11:43 pm
The most popular website in the US are http://www.plasticjungle.com and http://www.giftcardrescue.com.au They started 2-3 years ago and have become multi million businesses.

[Reply]
Maya

Great website. Good luck. Hopefully it will work out

[Reply]
Alexander

I know Fergus and Alex well and they will definitely make this a great success. Very talented guys

[Reply]
Jaap

Great idea!!!!!!! ….and I like the website design too

[Reply]
Christine

Awesome idea!!!!

[Reply]
Christian

I will definitely use your service in the future

[Reply]
Sebastian

SIMPLY AWESOME

[Reply]
Christian Pfeiffer

Hi, well done Alex. Really nice website you developed. I am sure this concept will work well

[Reply]
dtaib

An absolutely innovative idea!

[Reply]
Alex Reply:
July 6th, 2010 at 5:53 am
Thanks Dzul!!

[Reply]
Fernando

Awesome site, awesome concept! Alex and Fergus are true innovators! GO CARDLIMBO

[Reply]
Karthik

I have used Cardlimbo seceral times and they absolutely deliver what they promise… very happy with this service

[Reply]
Kristian Cabanis

Thanks for posting on facebook. Interesting concept!!!! ALL THE BEST

[Reply]
Ronald

Respect Alex and Fergus. I know how much efforts you are putting into this business. seems like a great idea

[Reply]
Juergen

Will definitely use Cardlimbo to sell unwanted gift cards for cash. Have lots of vouchers sitting in my drawers at home…such a waste

[Reply]
Gowithjim Reply:
July 8th, 2010 at 7:29 pm
Too right! Dust of the old ones you never used and cash them in.

[Reply]
Cjfox65

Innovative business. It's a win-win

[Reply]
Winnie

I love Cardlimbo's idea. It can save transaction cost and save value of us~~

[Reply]
Sherry

I have heard of this idea. It has been very popular in USA. I think it will become popular in Australia as well.

[Reply]
Danna

I have never heard of this online giftcard trade model before I come to know Cardlimbo, really love it. It saves me lot of money….

[Reply]
CheleP

Great Idea and a great oportunity to take advantage of those vouchers, either the ones you dont want or the one ones you definetely want to get at a discount price!!! Everyone should try it.
Congratulations!

[Reply]
Candice

I purchased a card and was very happy wih the transaction

[Reply]
cjones

Great concept.. I generally end up buying something from a store I don't really want or need just so that the gift card I have received gets used. Cardlimbo offers an innovative solution to this problem!

[Reply]
Jneuenburg

Finally a useful and well-structured website… great stuff!

[Reply]
Rainer

Great idea. Well done Fergus and Alex

[Reply]
Paul Breen

Good idea that meets a latent need – this is especially important in a price focused retail environment like Australia.

[Reply]
Kamen

Great new idea!

[Reply]
Bstatelova

Great New Idea

[Reply]
Marco

Fantastic idea! Really love it, so far my gift cards usually expired in the drawer …

[Reply]
Luisar

I liked this original product, I think it will make gift purchases much faster, easier and giving the option to choose what you like, these also avoid as much returns of product already purchased to stores.

[Reply]
Victor Manuel

excelente tarjeta

[Reply]
Fernando

Fantastic idea! Really love it, so far my gift cards usually expired in the drawer …

[Reply]
Benyta

smart idea which minimise wastage & environmentally friendly, well done!

[Reply]
Alexandra

This is a great concept – I found the site very easy to use. A small discount is better than lining the retailers pocket with free cash.

[Reply]
Adriland

Congrats Alex, this sounds great!

[Reply]
YOKOBURGOA

great!!!!! I LIKED!!!

[Reply]
Maryssam1

GREAT IDEA!!!

[Reply]
Anja

Hi Alex, Why don't we have this concept in Germany? Looks like a great idea..

[Reply]
Lars

I used your website a couple of times. Great service and concept

[Reply]
Sonja

Nice work. Very innovative website

[Reply]
Tom

Great concept!!!

[Reply]
David Grosshans

Great stuff Alex!
It was about time someone did it!!

[Reply]
Hayley

Great idea. I will be sure to use next time I get a gift certificate I know I wont use.

[Reply]
Saechier

Fantastic idea!

[Reply]
Andrew

Excellent idea!

[Reply]
KellyKoochew

The concept is very clever. Buying discounted supermarket gift cards at cardlimbo means I can save heaps on groceries. Go cardlimbo!

[Reply]
Alex Reply:
July 8th, 2010 at 7:42 pm
Cardlimbo enables consumers to save 10-30% depending on the gift card and shipping is free

[Reply]
Dan

Thanks card limbo for an easy to use and innovative website. I get sick of crappy slow websites that have no use. Card limbo is a breath of fresh air and is a perfect model of how to take a concept from go to wow.

[Reply]
Leoloco

I think it has created a whole new market which did not exist before in Oz. I also like it because it sort of brings the “power back to the people” away form the big companies that issue the gift cards!

[Reply]
Alex Reply:
July 7th, 2010 at 6:11 pm
Retailers have been pocketing millions of $$ in the last few years because Australian consumers did not have a choice. Now the dynamics have changed

[Reply]
Samuel

Finally somewhere to get rid of those unwanted gift cards, great idea, this business gets my vote

[Reply]
ian

A fabulous idea. Flexibility and tradeability before card limbo were zero whereas now, a gift card is like having cash.

[Reply]
Gowithjimagain Reply:
July 8th, 2010 at 7:26 pm
yeah, it's really redefined the 'currency' of gift cards and allows one choice we previously didn't have

[Reply]
Ifkoochew

Think Cardlimbo will benefit all Australian consumers, its user friendly, flexible and eco conscious. I will continue to use its services.

[Reply]
JJ

I love this concept, I have used it to see card I knew I wasnt going to use and buy ones I knew I would. Its so simple yet effective.

[Reply]
Ifkoochew

this will revolutionise the gift card market

[Reply]
glenda Reply:
July 7th, 2010 at 1:18 pm
agree entirely

[Reply]
NDagrosa

Great Idea, I always end up wasting my vouchers because I forget all about them and they expire. Now I can sell my gift cards as soon as i get them

[Reply]
Alex

Wow. Lots of people who seem to like the concept. I am overwhelmed by the number of comments and “likes”

[Reply]
Sonja

I know Alex well and he will make this business a great success

[Reply]
Liz

From someone who has let a lot of gift cards fall past their use by date, this is a great innovation. Also for my teenagers who get gift cards that they want to exchange for cash I will be directing them to the site. I will definitely be telling my friends about it and using it in the future. Great idea!!

[Reply]
Bron

great concept & an excellent website

[Reply]
Rradoslava

I like it. I thing it is very innovative idea )

[Reply]
christina

amizing idea, my friends will be happy in getting something like this & saving time

[Reply]
Maxii

it is a great idea

[Reply]
http://twitter.com/crustyadventure Christy McCarthy

I recently met with Fergus to discuss some of CardLimbo's Corporate Social Responsibility plans – great work from a new start up to be thinking like this! I really with them the best of luck in growing this great idea

[Reply]
TopRankings

Love the concept. I will definetely be using cardlimbo when I get my usual giftcards.

[Reply]
Damian

What a fantastic idea!

[Reply]
Alejandro Funes

Great idea and execution! The website is very clean and user-friendly. It's not only a business but also contributes to charity.

[Reply]
Alejandro Funes

Great idea and execution! The website is very clean and user-friendly. It's not only a business but also contributes to charity.

[Reply]
Alejandro Funes

Great idea and execution! The website is very clean and user-friendly. It's not only a business but also contributes to charity.

[Reply]
Alejandro Funes

Great idea and execution! The website is very clean and user-friendly. It's not only a business but also contributes to charity.

[Reply]
Alejandro Funes

Great idea and execution! The website is very clean and user-friendly. It's not only a business but also contributes to charity.

[Reply]
Alejandro Funes

Great idea and execution! The website is very clean and user-friendly. It's not only a business but also contributes to charity.

[Reply]
AC

Great idea

[Reply]
Zdenek

I have worked with Alex in the past and he always has been passionate about setting up his own business. Gift card exchanges are highly successful in the US and the market in Australia seems large enough to make Cardlimbo a great success

[Reply]
Fergus Koochew

My comment is to thank everyone so much for their support. We are really excited about this business and giving Australian's the flexibility to use their gift card vouchers as they want to.

[Reply]
Gowithjimagain

Fergus's innovation and drive is perfectly encapsulated in this business. The market will swarm to it.

Jim

[Reply]
Iispatch

awesome, I'm down for this

[Reply]
Hairyfatman

What a splendid idea. Now I know where to go when my auntie gives me another gift card that tends to sit in the bottom of my desk! Fantastic, thanks for bringing this to my fingertips.

[Reply]
Harrison Ross

Thanks guys, great idea. It gives me confidence when buying a gift card as a present to someone. I know now they can utilise the cardlimbo website to swap it if they really want to.

[Reply]
Nick

Now I can offload all those Roger David vouchers from my in-laws. Thanks card limbo!

[Reply]
BenS

Cardlimbo is a fantastic enterant into the online retail market. It provides a win:win solution for, consumer, seller and retailer – not to mention the community via charity option. Top work team at Cardlimbo

[Reply]
Bec

Great concept, that we in Australia needed. Good luck!

[Reply]
Cazzmorgan

Go cardlimbo!

[Reply]
Markgrace73

Cardlimbo is a great idea. Best of luck!

[Reply]
Millie Peach

I love card limbo – Go guys

[Reply]
Dale

Any innovation that helps people extract the value that they are entitled to is doing a social service to the community. Well done.

[Reply]
KellyRowe

Finally a fantastic solution for Australian consumers with unwanted gift cards. I wish cardlimbo much success to keep bringing the power to the people!

[Reply]
Andres

Alex and Fergus. This is a great website!!!!

[Reply]
Bastian

Very innovative concept

[Reply]
Burhan

Great website. GO CARDLIMBO. YOU SHOULD GET TO #1

[Reply]
Nicole

Very innovative idea. This business will definitely work

[Reply]
Simon

I am amazed by the number of people who support Cardlimbo

[Reply]
Feline

Awesome idea. Good luck

[Reply]
Jim

Simply awesome

[Reply]
Jo

love it – been there and will be back again

[Reply]
Juergen

I have used Cardlimbo many time in the past month and I have become a huge fan

[Reply]
Almut

Very interesting concept and a great website. I really like the design…

[Reply]
Jan

Great idea. Very useful for Australian consumers!!!

[Reply]
Andi

I am a huge fan of Cardlimbo!!! Go Fergus and Alex

[Reply]
Katrin

this business model definitely is the most amazing innovation in 2010

[Reply]
Kim

You guys definitely deserve to win. Count on me as a future customer of Cardlimbo

[Reply]
Narges

This is a fantastic idea. The founders and their team are incredible at what they and have found an spot in the market needing filling. May success continue for you.

[Reply]
John B.

Great idea! Win Win… You can only spend so much in Bunnings!

[Reply]
Gisela

I truely wish you all the best for the future and I am confident you will make it to the #1 position of the Most Innovative Products in 2010 list

[Reply]
Michael

Hi Cardlimbo team, I wish you all the best for this competition as well as for your future success

[Reply]
Monika

Love this website – a true one-stop-shop for gift cards. The newspaper said two weeks ago that up to 1 out of 3 gift cards expire unused… what a waste

[Reply]
David

Cardlimbo is what I call innovation. As the first online gift card exchange in Australia you will have a great first mover advantage

[Reply]
Katrin

Congratulations Alex and Fergus – I can only imagine how much work you have put into biulding this website – this concept will definitely work

[Reply]
Jade

Wow! Cardlimbo..why didnt anyone think of this earlier..fantastic concept! Good luck!

[Reply]
Schmmidy05

Just brilliant! Thanks for bringing some common sense to the market place. Cheers

[Reply]
Adam

This is an awesome venture! Environmentally-friendly and all that, but really innovative as well!

[Reply]
Roger

Awesome concept!!!!!

[Reply]
Em

Great Idea, good luck

[Reply]
Tegan

Fantastic idea!

[Reply]
Simon

Great idea! I wish you'd been around earlier! Would have made some money from a few random vouchers I've received and bought something valuable with it instead!

[Reply]
Elliott

Given the size of the market for gift vouchers these days, this is an excellent concept. Anything that gives more power and choice to the consumer has got to be a good thing

[Reply]
Emmma

Fanatstic idea. These big companies get enough of our money..

[Reply]
Foo04

Fantastic idea. the big companies have enough of our money

[Reply]
Tim Styles

The amount of money that goes to waste each year with unused vouchers (well free money to the large corporates) is huge! Love your work cardlimbo! I'll be back for more

[Reply]
Jan

Good luck for this new concept – anyone who has received gift cards (and has been unable to redeem), or has failed to come up with good ideas for a gift will like this idea!

[Reply]
Ginger

love it!

[Reply]
Toast

Excellent concept which has saved me money. I recommend Cardlimbo to everyone and especially for those who want to save money when buying.

[Reply]
Maru

Love the website, I can save money when buying gift cards

[Reply]
Alejandra

great deal on cardlimbo, excellent concept

[Reply]
Alfonsrovira

Great Business idea! Maybe it could has succes in Spain as well

[Reply]
Anonymous

I have seen this video.. it is great idea..i like that video.

Diwali Gifts | Gifts to India | Send Gifts to India

[Reply]
Anonymous

What a fantastic article.I really like reading these types of articles.I can’t wait to see what others have to say.A lot of useful information here.I’m sending it to some friends.

[Reply]

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