Digital Gifting Leader Achieves 80 Percent Year-Over-Year Growth
CashStar, the digital gifting company preferred by more than 300 of the world’s leading brands, today announced that it achieved an 80 percent year-over-year increase in the number of digital gift cards sold in the month of June. A strong “Dads and Grads” holiday period fueled sales and consumer adoption.
“We continue to see massive growth in digital gifting across all categories, with holidays and promotions frequently serving as incentives for consumers to purchase,” said Ben Kaplan, president and CEO of CashStar. “This June proved to be no exception, with consumers in growing numbers taking advantage of the convenience and personalization digital gift cards provide while retailers increasingly utilized digital gift cards in marketing and promotional campaigns.”
In the analysis of incremental sales for the five days leading up to and including Father’s Day compared to the week prior, categories that drove robust Father’s Day sales included entertainment, sporting goods/outdoors, department stores, specialty retail and casual dining. Entertainment brands led the way with 517 percent sales growth, followed by sporting goods with 515 percent growth and department stores with 172 percent growth. Specialty retail experienced 152 percent week-over-week growth, while restaurants saw a 74 percent increase over the previous week.
Of these, sporting goods/outdoors saw the biggest year-over-year growth, with a 297 percent increase for Father’s Day week compared to 2013 sales. Restaurants saw a 93 percent year-over-year increase and entertainment a 90 percent increase.
CashStar is the leading provider of omni-channel digital gifting solutions for the world’s top brands. The CashStar platform enables retailers and restaurants to maximize sales, eliminate fraud risk, increase customer engagement, and drive adoption of mobile payments. More than 300 leading companies rely on CashStar to power the most innovative and advanced prepaid and digital gifting programs, including Best Buy, Brookstone, Coach, Crate & Barrel, Dell, Dunkin’ Donuts, Gap, lululemon athletica, Office Depot, Petco, Pottery Barn, QVC, Sephora, Staples, Starbucks, The Cheesecake Factory, The Home Depot, and Williams-Sonoma. To learn more, please visit www.cashstar.com, follow @CashStar_Inc, or e-mail .