Gyft Launches Service to Take “Taboo” Out of Regifting

Share Article

Gyft Introduces “Gyft It” -- Consumers Can Now Regift existing Gift Cards via Mobile Devices and Social Networks; Company Surges as Its Digital Gift Card Platform Hits $1 Million in Uploaded Cards in First Month

Gyft, Inc, the newly launched service that allows customers to buy, store, send, receive and organize gift cards via mobile and social media, today announced a new service called “Gyft It” which allows users to regift their unused gift cards to anyone with an email address, mobile phone number, or in their social networks. In time for the holidays, the new offering makes it easier than ever for consumers to regift and redeem their cards from their mobile phone.

Gyft also disclosed impressive user numbers that attest to the consumer need for its comprehensive gift card management solution. In less than a month since its launch, more than $1 million in gift cards have been uploaded to the Gyft platform. Additionally, the company has added more than 100 retail partners, bringing the total number of retailers to over 300.

Gyft’s new regifting service allows gift card holders to easily send the gift cards they no longer want or need without detection. Users simply upload their gift cards using the Gyft app and provide a recipient’s email address, mobile phone number, or contact via their social networks. Users then can enter a personal message that will accompany the gift card, which is sent electronically or via text. The gift card information is stored for the recipient, who can use it in-store or online. Anyone who downloads Gyft today at gyft.com or at Apple’s App Store will receive $10 in free cards upon sign up.

“Gyft is changing the rules of regifting to make it easier, smarter, and social. By turning gift cards into electronically transferable currency, consumers no longer have to worry about the ‘Happy Birthday’ message printed on a physical card when they repurpose the card for a friend’s housewarming gift,” said Gyft COO and co-founder, CJ MacDonald. “We are continuing to deliver services our users want while finding new ways for our retail partners to ensure their cards are redeemed.”

Recent reports highlight growing popularity of gift cards and regifting

Regifting, or the practice of taking an unused present and offering it to someone else in lieu of making a new purchase, is an increasingly popular means of giving friends, family, co-workers, caregivers and others gifts.

A recent Booz and Co. research report highlights the now “socially acceptable” regifting phenomenon as a growing trend prominent enough that it could impact retailers this holiday season, with nearly one-third of shoppers considering giving unused gifts. One of the reasons cited is that consumers are learning to “live with less.” Other common reasons for regifting include that original gift recipients don’t like or need the present, that they can’t exchange it, or they do not shop where gifts were purchased.

Gift cards are an obvious choice for regifting due to their increasing popularity. In fact, according to Ceridian Stored Value Solutions Inc. (SVS), more than 82% of consumers will purchase a gift card this holiday season, while an American Express survey recently indicated that two-thirds of affluent American women hope to receive gift cards. Unlike an item of clothing that could be non-transferrable due to size or personalization, anyone can use gift cards to purchase the goods that they want or need.

To learn more about why consumers and retailers love Gyft, please visit http://www.gyft.com or the App Store to download the app.

About Gyft:
Gyft, Inc. provides a gift card platform for consumers and retailers that enables customers to upload, buy and redeem gift cards conveniently from their mobile device. Gyft is seamlessly integrated with Facebook so users can send gift cards to their friends around special events. Gyft is a private company funded by Google Ventures, Founder Collective and 500 Startups, with offices in San Francisco, CA. For more information, visit http://www.gyft.com.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Amber Moore