Giftify, Inc. Reports Impressive Growth in Gift Card Sales
Impressive Growth in Gift Card Sales for Giftify, Inc.
Giftify, Inc. (NASDAQ: GIFT), known for its digital retail platforms like CardCash.com and Restaurant.com, has unveiled a remarkable 57% growth in gift card sales from Black Friday through Cyber Monday. This surge reflects not only increasing consumer demand but also the effectiveness of Giftify’s ongoing strategies.
Strong Sales Performance
The sales performance during this holiday season translated into a stunning $3.1 million in face value of gift cards sold. The achievement was realized through a total of 8,825 orders, with an average order size of approximately $347. Such robust numbers demonstrate the strong consumer confidence in the brand and its offerings.
Year-to-Date Success
CardCash has impressively sold over 1 million gift cards so far in the current year, aggregating nearly $125 million in total face value. This milestone not only underscores the growth trajectory of the platform but also its pivotal role in the secondary gift card marketplace.
Top Brands Fueling Growth
Among the top-ranked brands sold on CardCash, Home Depot has claimed the #1 spot, followed closely by Walmart, Kohl’s, and Best Buy. This diverse array of popular retailers contributes significantly to the platform's overall appeal and traction during the peak shopping period.
Increased Mobile Transactions
Interestingly, mobile transactions represented a staggering 62% of all gift card sales. This shift underscores the evolving shopping habits of consumers who increasingly prefer the convenience of mobile platforms for their purchasing needs.
CEO's Perspective on Growth
Ketan Thakker, the Chief Executive Officer of Giftify, expressed his enthusiasm about the company's performance as they approach the one-year anniversary of owning CardCash. He stated, "We have fortified the platform and enhanced operational efficiencies. These results mark the beginning of our expansion plans as we look to further accelerate growth in 2025." Thakker emphasized a multi-faceted strategy aimed at boosting revenue through an increase in retailers, registered users, active users, and overall transactions.
About Giftify, Inc.
Giftify, Inc. is a trailblazer in the incentives and rewards sector, dedicated to improving retail, dining, and entertainment experiences through its digital platforms. CardCash.com serves as a leading secondary gift card exchange, empowering both consumers and retailers to buy and sell gift cards conveniently. Meanwhile, Restaurant.com stands out as the largest digital deals brand focused on dining, connecting users to thousands of restaurant options where they can save significantly.
Frequently Asked Questions
What is the recent growth percentage reported by Giftify, Inc.?
Giftify, Inc. reported an impressive 57% growth in gift card sales during the holiday shopping period from Black Friday through Cyber Monday.
How much was the total face value of gift cards sold?
The total face value of gift cards sold reached $3.1 million during the recent shopping holiday.
What types of retailers were popular during this sales period?
The most popular retailers sold included Home Depot, Walmart, Kohl’s, and Best Buy.
What proportion of sales were made through mobile devices?
Mobile transactions accounted for 62% of all gift card transactions during the holiday shopping weekend.
What are the future plans for Giftify, Inc.?
Giftify, Inc. plans to expand its growth strategy in 2025 by increasing retailers, registered users, active users, and transactions on its platforms.
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