Don't stash it, cash it!

Unwanted gifts can be the solution to Canadians' holiday debt

TORONTO, Jan. 11 /CNW/ - Holiday debt is likely on the minds of many Canadians this month, according to research that reveals nearly 30 per cent of Canadians expected to incur some form of shortfall due to holiday splurging. Whether they used a credit card to pay for purchases or borrowed money to fund their holiday shopping, Canadians are likely feeling the post-holiday pinch.

Based on the results of the eBay Canada-sponsored survey, Canadians should consider reselling holiday gifts that missed the mark to reduce their holiday debt, cashing in on unwanted items rather than stashing them in the basement or the back of a closet. In fact, based on last year's holiday season, approximately four-in-10 Canadians received at least one unwanted item, some worth more than $200.

Three-quarters of Canadians, however, don't plan to recoup the value of unwanted holiday gifts by selling them. Some will even let the items go to waste, either "misplacing" them or throwing them in the garbage.

"There's nothing wrong with tastefully and discreetly reselling or re-gifting an item," said Cathie Mostowyk, eBay Canada's budget expert and editor of the Shoestring Shopping Guide. "Our research reveals that three-quarters of Canadians don't plan to sell unwanted holiday gifts this year, choosing to let the item go unused instead of taking the opportunity to make some extra cash."

An unwrapped and unwanted holiday gift doesn't have to collect dust in the basement or take up valuable closet space. Canadians looking to re-gift or resell unwanted items should follow a few simple tips:

  • Be thoughtful. Re-gifting an item is acceptable as long as it is thoughtful and personal based on the intended recipient. Someone else will appreciate an article of clothing or a great book even if the item doesn't perfectly match your taste.
  • Be careful. There's nothing more humiliating than re-gifting a present to the original gift-giver. Keep track of gifts and their giver as you unwrap them to avoid any gifting goof-ups.
  • Be generous. If you don't feel comfortable re-gifting the item to someone you know, consider giving it to a charitable organization. Your gift will make a difference to someone who really needs it.
  • Be discreet. Discreetly selling the item on eBay.ca may be the easiest way to spare both the gift-giver's feelings and your closet space.

eBay makes it easy and, in some cases, free to list unwanted holiday gifts. Depending on the starting price of the item, sellers can take advantage of free insertion fees. By using eBay's Sell Your Item form, it's easy for sellers - whether they're novices or experts - to post the item on the world's largest online marketplace with a few simple steps. Sellers who are unsure of the gift's value can search for similar items on eBay.ca via their computer or mobile phone. It's a great way to ensure that they recoup the gift's full value. 

To turn unwanted holiday gifts into cold, hard cash, Canadians should visit www.eBay.ca.

About the survey

TNS Ncompass Online Omnibus, conducted an online omnibus survey, interviewing 1079 adults aged 16-64. Interviewing was conducted between, 30th September and 4th October 2010. Sample was weighted to represent the adult population of Canada aged 16-64.

About eBay

Founded in 1995 in San Jose, Calif., eBay Inc. connects millions of buyers and sellers globally on a daily basis through eBay, the world's largest online marketplace, and PayPal, which enables individuals and businesses to securely, easily and quickly send and receive online payments. We also reach millions through specialized marketplaces such as StubHub, the world's largest ticket marketplace, and eBay Classifieds sites, which together have a presence in more than 1,000 cities around the world. In Canada, eBay was visited by nearly 7.2 million Canadians in November 2010. (comScore Media Metrix).

SOURCE eBay Canada

For further information:

Gema Rayo
Environics Communications on behalf of eBay Canada
416.969.2665
grayo@environicspr.com

Nicole Tuschak
Environics Communications on behalf of eBay Canada
416.969.2712
ntuschak@environicspr.com


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