Consumers are going digital. The announcement Apple made regarding the Apple credit card reveals a massive shift towards digital consumerism. If credit card companies take notes out of Apple’s playbook, it won’t be long before all cards are available digitally. This disruption is also an important part of the e-gifting or digital gift giving industry. As with any technology, it takes time for consumers to adjust and learn new behaviours. As consumers adapt to making payments with digital credit cards, it will open the door to the digital gifting space as well. Digital gifting has grown tremendously over the years, however, this new digital-first era will lay the foundation for mass adoption.
So, how fast is e-gifting growing? Talbott Roche, CEO and President of Blackhawk Network explains,
“Gift cards hold mass appeal, and offer a seemingly endless range of options—physical, digital and mobile—giving brands and organizations new ways to engage with their audiences. As consumer gift card purchasing and usage preferences continue to evolve, there will be more opportunities for merchants to drive traffic, sales and loyalty with their own gift card programs. Businesses can prepare themselves by considering consumer insights and embracing the changes coming to our industry.”
Here are 6 interesting facts that will provide insight into the evolution of the eGift card industry:
- Between 2015-2025 the global e-gifting projected market size will grow from over $200 billion to over $700 billion. (Mageplaza)
- 56% of surveyed consumers would like to keep gift cards stored on their phone. This makes the card easily accessible and decreases the chances of it being lost. (Gift Card Granny)
- Nearly 40% of consumers aged 18 to 35 expressed a preference for digital gift cards. (SVS Digital Gift Card Sentiment Survey)
- 69% of consumers are interested in receiving a digital gift card. (Blackhawk Network)
- More than 60% of consumers surveyed feel a personal message in a gift card makes a gift feel more thoughtful; and e-gifting makes this much easier to produce en masse. (Blackhawk Network)
- 52% of consumers surveyed report that gift cards would keep them engaged in a loyalty program over other options like merchandise, discounts and airline miles. (Blackhawk Network)
If your business is looking to deploy a eGift card program that engages consumers, drives loyalty, and makes gifting more efficient for those on the go, then sign up for a free Perkalead account now. Members also gain access to our library of helpful resources for marketing and deploying digital rewards. Not ready to sign up yet? Be sure to check out these helpful tactics to give you a better idea of how to leverage digital gifting for your business.