Gift Cards Sold Online Grow by More than 20% This Holiday Season
LOUISVILLE, Ky., Jan. 3, 2019 /PRNewswire/ -- Online gift card sales emerged as the fastest growing channel for the fifth straight year this holiday season, growing by more than 20% over last year's online gift card sales. A partnership announced earlier this year by Louisville based Stored Value Solutions (SVS) with CashStar, is just one way retailers are helping to drive online gift card sales.
"Gift cards sold online are very important, especially to millennials," says Joey Froedge, Vice President of Digital Commerce at SVS. "Our research shows that millennials prefer to buy lots of gift cards, more than 10 each year, and almost 50% of those gift cards are purchased online. As millennials gain purchasing power, we are seeing strong growth in this channel."
Often, retailers don't have the resources or expertise to sell gift cards online. Instead, they turn to businesses like SVS and CashStar to enable their gift cards to be sold online. SVS helps its customers sell more gift cards online by offering innovative, more personalized ways to deliver a gift card and by working with companies like CashStar to activate the gift cards and ensure they remain secure.
CashStar, owned by California-based Blackhawk Network, helps retailers sell more gift cards online and to other businesses with its gift card sales tools. Their partnership with SVS allows them to value the gift cards and deliver them in near real time, creating a better consumer experience.
The partnership between these two companies allow retailers to deliver a great gift card purchasing experience to consumers.
About SVS: As a leading prepaid provider, SVS manages more than 700 hundred million card products and processes over 1.5 billion transactions annually. We partner with top retailers around the world to offer stored value solutions that will effectively drive the behavior that will lead to business success. SVS is headquartered in Louisville Kentucky, USA, and owned by the Atlanta-based FleetCor Technologies, Inc. (NYSE: FLT). For more information, visit: www.storedvalue.com.
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SOURCE Stored Value Solutions