Gift cards represent a USD 100 billion industry, but all too often those cards end up lost, stolen, or forgotten. That’s according to Gyft, which aims to make it easier for consumers to manage and make the most of all their gift cards through a single mobile interface.
Consumers begin by downloading the Gyft app, which is free for both Android and iOS. They then add gift cards by entering the cards’ information, which is then stored in the owner’s “wallet” and can be redeemed in-store or online. Users can also send gift cards to their friends, if they so choose. The video below explains the premise in more detail:
Of course, even as Gyft makes it easier for consumers to manage their gift cards, it also gives retailers new ways to communicate with those consumers that hold their gift cards, enabling them to send reminders, launch special offers and ensure that gift cards are redeemed. “Retailers are always searching for new ways to stay in touch with their customers, and Gyft gives them the targeted means to do so,” notes CJ MacDonald, Gyft’s cofounder and COO. “There is a myth that retailers love the breakage on gift cards. The reality is it’s better for both consumers and retailers when the card is used.”
Currently, San Francisco-based Gyft supports more than 100 leading retailers, including Amazon, Sephora, Brookstone and Lowe’s. Others around the globe: time to get on board?
Spotted by: Murray Orange