Giftify, Inc.’s CardCash Announces 57% Year-Over-Year Growth in Face Value of Gift Cards Sold from Black Friday Through Cyber Monday

Rhea-AI Summary

Giftify (NASDAQ: GIFT) reported strong performance for its CardCash platform during Black Friday through Cyber Monday, achieving a 57% year-over-year growth in gift card sales. The company recorded $3.1 million in face value of gift cards sold across 8,825 orders, with an average order size of $347.

CardCash has sold over 1 million gift cards year-to-date, totaling nearly $125 million in face value. Mobile activity represented 62% of all gift card transactions. The top-selling brands were Home Depot, Walmart, Kohl's, and Best Buy. The company aims to accelerate growth in 2025 through increasing retailers, registered users, active users, and platform transactions.

Positive

• 57% YoY growth in gift card sales during Black Friday-Cyber Monday period
• $3.1M in face value of gift cards sold during the holiday period
• Strong mobile engagement with 62% of transactions via mobile
• Year-to-date sales of over 1M gift cards worth $125M in face value

Negative

• None.

Insights

Financial Analyst

The 57% YoY growth in gift card sales during the important Black Friday-Cyber Monday period signals strong momentum for CardCash's business model. The $3.1 million in face value sales, with an average order size of $347, demonstrates healthy consumer engagement. The YTD performance of $125 million in total face value across 1 million gift cards indicates significant market penetration.

The mobile transaction share of 62% aligns with broader e-commerce trends and suggests effective digital transformation. The presence of major retailers like Home Depot and Walmart as top performers adds credibility to the platform. However, with a market cap of just $27.7 million, the company's valuation appears modest relative to its transaction volume, indicating potential upside if growth trajectory continues.

Market Research Analyst

The holiday shopping data reveals compelling consumer behavior patterns. The high average order value of $347 suggests CardCash is attracting value-conscious consumers seeking discounts on premium gift cards. The platform's success with major retail brands indicates strategic positioning in high-demand merchant categories.

Key performance metrics worth noting:

• 8,825 orders during the peak shopping period
• Diverse merchant mix spanning home improvement, general retail and electronics
• Strong mobile adoption indicating effective digital strategy

The company's focus on platform expansion and user growth positions it well in the secondary gift card market, though execution of their 2025 growth strategy will be crucial.

SCHAUMBURG, IL, Dec. 23, 2024 (GLOBE NEWSWIRE) -- Giftify, Inc. (NASDAQ: GIFT) (the “Company”), the owner and operator of leading digital platforms, CardCash.com and Restaurant.com, with a focus on incentives and rewards in retail, dining & entertainment experiences, is pleased to announce robust sales growth of approximately 57% for the recent shopping holiday of Black Friday through Cyber Monday.

This growth resulted in $3.1 million in face value of gift cards sold and was comprised of 8,825 orders with an average order size of $347.

CardCash has sold over 1 million gift cards year-to-date aggregating nearly $125 million in total face value.

Top ranked brands sold:

• Home Depot #1
• Walmart #2
• Kohl’s #3
• Best Buy #4

Mobile activity up to 62% of all gift card transactions.

Ketan Thakker, Chief Executive Officer of Giftify, Inc., commented, “As we approach our one year anniversary of owning CardCash, we have strengthened the platform and have improved efficiencies. We are extremely pleased with these results and believe this is just the tip of the iceberg, as our team has a multi-prong strategy to accelerate growth in 2025. Going forward we are focused on driving revenue growth by increasing the number of retailers, registered users, active users and transactions on our platforms.”

About Giftify, Inc.

Giftify, Inc. is a pioneer in the incentive and rewards industry with a focus on retail, dining & entertainment experiences, as the owner and operator of leading digital platforms, CardCash.com and Restaurant.com. CardCash.com is a leading secondary gift card exchange platform, allowing consumers and retailers to realize value by buying and selling gift cards at various scales. Its Restaurant.com is the nation’s largest restaurant-focused digital deals brand. Restaurant.com and our Corporate Incentives division connect digital consumers, businesses and communities offering thousands of dining, retail and entertainment deals options nationwide at over 184,000 restaurants and retailers. Restaurant.com prides itself on offering the best deal, every meal. Our gift cards and restaurant certificates allow customers to save at thousands of restaurants across the country with just a few clicks.

For more information, visit: www.giftifyinc.com and www.cardcash.com and https://www.restaurant.com.

Forward-Looking Statements

Press Releases may include forward-looking statements. In particular, the words “believe,” “may,” “could,” “should,” “expect,” “anticipate,” “estimate,” “project," "propose," "plan," "intend," and similar conditional words and expressions are intended to identify forward-looking statements. Any statements made in this news release about an action, event or development, are forward-looking statements. Such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company. Accordingly, you should not place undue reliance on these forward-looking statements. Although the company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The company takes no obligation to update or correct its own forward-looking statements, except as required by law or those prepared by third parties that are not paid by the company. Statements in this press release that are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although Giftify, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, Giftify, Inc. is unable to give any assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include the company’s ability identify a suitable business model for the corporation.

Investors Contacts:
ClearThink
nyc@clearthink.capital

FAQ

What was GIFT's CardCash platform sales growth during Black Friday-Cyber Monday 2024?

CardCash reported a 57% year-over-year growth, with $3.1 million in face value of gift cards sold during Black Friday through Cyber Monday 2024.

How many gift cards has CardCash (GIFT) sold year-to-date in 2024?

CardCash has sold over 1 million gift cards year-to-date in 2024, with a total face value of nearly $125 million.

What was the average order size for GIFT's CardCash platform during Black Friday 2024?

The average order size during Black Friday through Cyber Monday 2024 was $347, across 8,825 orders.

Which brands were the top sellers on GIFT's CardCash platform in 2024?

The top-selling brands on CardCash were Home Depot (#1), Walmart (#2), Kohl's (#3), and Best Buy (#4).

What percentage of GIFT's CardCash transactions were mobile-based?

Mobile activity accounted for 62% of all gift card transactions on the CardCash platform.