Woolworths has matched Coles' offer to exchange the now worthless Dick Smith gift cards bought at Woolies or Big W for its own giftcards.

The Woolworths' WISH cards can be redeemed across Woolworths' entire retail group, including the Woolworths supermarkets, Big W, Thomas Dux, Dan Murphy's, BWS, Masters and Caltex Woolworths stores.

Shoppers lashed out at Coles and Woolworths this week, claiming on social media the supermarkets promoted the gift cards in the lead up to Christmas but sources inside both supermarkets claim the '10 per cent extra value' offer on the cards was driven by Dick Smith.

Coles beat Woolworths to the punch by offering to exchange Dick Smith gift cards bought at its supermarkets early on Friday morning.