Announcements

Mobile Mother’s Day eGift Card Sales Propel CashStar Growth

The second-biggest eGifting holiday of the year next to Christmas continues to be a signal of consumers’ enthusiastic adoption of eGift Cards. With nearly 300 leading retailer and restaurant brands on its eGifting platform, CashStar achieved a nearly 80 percent year-over-year increase in gross sales for Mother’s Day eGifts and an increase of nearly 70 percent in total number of cards sold. CashStar’s eGifting growth is nearly 6x greater than the first quarter year-over-year overall growth of e-commerce sales, which Internet Retailer reported at 14 percent.

Growth in mobile purchases was equally pronounced, with busy, on-the-go shoppers comprising an ever-increasing segment of the population. The perfect solution for consumers who need a thoughtful, personalized gift, and need it fast, eGift Cards purchased on a mobile device continued their upward trend. Mobile purchases the week of Mother’s Day went from 9 percent in 2012 to 12 percent by Christmas week 2012. 2013 mobile purchases the week of Mother’s Day jumped to 16 percent (a 74% increase over 2012), and then soared to 25 percent on Mother’s Day itself, enabling retailers to capture last-minute sales that would have likely been lost otherwise.

Initial data analysis indicates that CashStar brands that actively promoted eGifts via marketing campaigns and prominent web site placement experienced more than 10x higher growth in Mother’s Day sales than brands that did not promote. “These results illustrate that, even on the cutting edge of mCommerce, the classic Four Ps of marketing, in this case Promotion and Place, are still fundamental ingredients to driving sales,” said CashStar Vice President of Marketing, Gene Cornfield. 

CashStar’s Mother’s Day results come on the heels of a record first quarter for the company, which more than doubled its sales over the same period in 2012. Quick-Service Restaurants and Electronics brands led with organic year-over-year growth of 209 percent and 118 percent, respectively.

“It feels like Christmas came early for CashStar this year,” said Cornfield. “We’re very much looking forward to a spectacular rest of 2013 for us, for our clients and partners, and for the digital gifting and mobile payments industries.” 

About CashStar
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. Nearly 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 .

Contact:
Keri Bertolino
fama PR
617-986-5007

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