Consumer Behavior
Digital gift card income on robust path
September 11, 2020
Consumers are loving the gift card option more than ever, which is likely due to the ongoing coronavirus pandemic which is curtaining retail store traffic due to health concerns.
Income from the cards jumped 198% in just the second quarter of this year, according to a Rise.ai survey, an AI-based customer engagement solutions provider. The survey polled 1,517 U.S. stores using Rise.ai's platform.
That's a pretty healthy spike given the 101% increase seen in the second quarter of 2019, according to a press release on the study's findings.
The number of digital gift cards sold in the sampled U.S. stores in the second quarter of 2020 rose by 115% compared to the year before, and by 194% compared to the first quarter of 2020.
"The last couple of months were different than anything we've ever dealt with," Yair Miron, CEO and founder of Rise.ai, said in the release.
