Social gifting mobile apps on the rise
One of the latest gift trends for Americans is social gifting. Gift cards have always been a popular gift to give loved ones, friends, acquaintances, and others, but this new trend that has picked up in recent years allows users to carry the gift card on their mobile devices, saving the hassle of holding onto a physical card and potentially losing it.
It’s shopping for presents in the digital age. Many social gifting companies like Wrapp and Gyft provide digital gifts such as gift cards and coupons.
“Social gifting is the next frontier,” Starbucks COO and President Kevin Johnson said in an earnings call with investors recently.
Forty percent of Starbucks’ sales come from gift cards, many of those being Starbucks Card eGifts sent from person to person through the app. Users no longer have to walk into a store in order to send money to each other.
With the popularity of transferring money between individuals, as seen with apps such as Facebook Messenger and WeChat, it only makes sense that gift cards would also be transferrable. While this phenomenon has been prevalent for several years, companies are just now beginning to harness its ability in an increasingly digital world.