Sales of digital gift cards in the US jumped as consumers shifted to online purchases, Survey
Rise.ai analyzed 1,952 stores in 62 countries. “The market to set an all-time record with triple-digit growth in the fourth quarter,’’ says CEO Yair Miron
Rise.ai has highlighted the drastic increase in which consumers have shifted to online purchases during the Covid-19 era.
Israeli startup Rise.ai which offers AI-driven businesses offer digital gift cards through public listings on Google My Business (GMB) has conducted a third-quarter global digital gift card survey that analyzed 1,952 stores in 62 countries in America, Europe, Asia, Africa, and Australia.
The company concludes: Initial income from digital gift cards in third quarter 2020 jumped globally by 149% compared to third quarter 2019, while the number of digital gift cards sold rose by 111% compared to third quarter 2019.
Since the outbreak of the coronavirus pandemic in the US, the use of digital gift cards breaks records, says Yair Miron, CEO and founder of Rise.ai in an announcement.
‘’Third quarter is usually the weakest quarter in the year for the whole e-commerce sector, including digital gift cards,” says Miron, CEO and founder of Rise.ai in an announcement. “This year it was not only strong but registered a 165% growth rate in initial income compared to last year. Second, the first weeks of the fourth quarter are much stronger than usual. Third, we see a clear correlation between the number of Covid-19 cases and the demand for digital gift cards.”
‘’The numbers and the trends we found indicate that this year’s holiday season and the fourth quarter, in general, are going to be the strongest quarter for digital gift cards in history,’’ Miron added.
Founded in 2015 Rise.ai has raised approximately $457,000 pre-seed, and active in more than 50 countries around the world with more than 3,500 digital stores, with over 80% of them in North America.
According to the company, in 2019 Rise.ai helped merchants generate $150 million in revenue and handled more than $1 billion in store credit.
Rise.ai was selected this summer by both Facebook and Google to help small and medium businesses sell more on Facebook and Instagram.
Photo: Yair Miron, CEO and founder of Rise.ai. credit / Nati Cohen
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