Giftify, Inc.’s CardCash Announces 57% Year-Over-Year Growth in Face Value of Gift Cards Sold from Black Friday Through Cyber Monday
Rhea-AI Summary
Giftify (NASDAQ: GIFT) reported strong performance for its CardCash platform during Black Friday through Cyber Monday, achieving a 57% year-over-year growth in gift card sales. The company recorded $3.1 million in face value of gift cards sold across 8,825 orders, with an average order size of $347.
CardCash has sold over 1 million gift cards year-to-date, totaling nearly $125 million in face value. Mobile activity represented 62% of all gift card transactions. The top-selling brands were Home Depot, Walmart, Kohl's, and Best Buy. The company aims to accelerate growth in 2025 through increasing retailers, registered users, active users, and platform transactions.
Positive
- 57% YoY growth in gift card sales during Black Friday-Cyber Monday period
- $3.1M in face value of gift cards sold during the holiday period
- Strong mobile engagement with 62% of transactions via mobile
- Year-to-date sales of over 1M gift cards worth $125M in face value
Negative
- None.
News Market Reaction
On the day this news was published, GIFT declined 5.56%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SCHAUMBURG, IL, Dec. 23, 2024 (GLOBE NEWSWIRE) -- Giftify, Inc. (NASDAQ: GIFT) (the “Company”), the owner and operator of leading digital platforms, CardCash.com and Restaurant.com, with a focus on incentives and rewards in retail, dining & entertainment experiences, is pleased to announce robust sales growth of approximately
This growth resulted in
CardCash has sold over 1 million gift cards year-to-date aggregating nearly
Top ranked brands sold:
- Home Depot #1
- Walmart #2
- Kohl’s #3
- Best Buy #4
Mobile activity up to
Ketan Thakker, Chief Executive Officer of Giftify, Inc., commented, “As we approach our one year anniversary of owning CardCash, we have strengthened the platform and have improved efficiencies. We are extremely pleased with these results and believe this is just the tip of the iceberg, as our team has a multi-prong strategy to accelerate growth in 2025. Going forward we are focused on driving revenue growth by increasing the number of retailers, registered users, active users and transactions on our platforms.”
About Giftify, Inc.
Giftify, Inc. is a pioneer in the incentive and rewards industry with a focus on retail, dining & entertainment experiences, as the owner and operator of leading digital platforms, CardCash.com and Restaurant.com. CardCash.com is a leading secondary gift card exchange platform, allowing consumers and retailers to realize value by buying and selling gift cards at various scales. Its Restaurant.com is the nation’s largest restaurant-focused digital deals brand. Restaurant.com and our Corporate Incentives division connect digital consumers, businesses and communities offering thousands of dining, retail and entertainment deals options nationwide at over 184,000 restaurants and retailers. Restaurant.com prides itself on offering the best deal, every meal. Our gift cards and restaurant certificates allow customers to save at thousands of restaurants across the country with just a few clicks.
For more information, visit: www.giftifyinc.com and www.cardcash.com and https://www.restaurant.com.
Forward-Looking Statements
Press Releases may include forward-looking statements. In particular, the words “believe,” “may,” “could,” “should,” “expect,” “anticipate,” “estimate,” “project," "propose," "plan," "intend," and similar conditional words and expressions are intended to identify forward-looking statements. Any statements made in this news release about an action, event or development, are forward-looking statements. Such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company. Accordingly, you should not place undue reliance on these forward-looking statements. Although the company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The company takes no obligation to update or correct its own forward-looking statements, except as required by law or those prepared by third parties that are not paid by the company. Statements in this press release that are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although Giftify, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, Giftify, Inc. is unable to give any assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include the company’s ability identify a suitable business model for the corporation.
Investors Contacts:
ClearThink
nyc@clearthink.capital
FAQ
What was GIFT's CardCash platform sales growth during Black Friday-Cyber Monday 2024?
How many gift cards has CardCash (GIFT) sold year-to-date in 2024?
What was the average order size for GIFT's CardCash platform during Black Friday 2024?
Which brands were the top sellers on GIFT's CardCash platform in 2024?
What percentage of GIFT's CardCash transactions were mobile-based?
