With the crisp autumn weather upon us, it isn’t a stretch to imagine the excitement of the holiday season. With that comes the joy or dread of giving gifts to our family, friends and professional acquaintances.
This fascinating article, recently published by Bloomberg News, describes the economic reality that the global supply chain faces a bottleneck, production is slowed down and deliveries are delayed. Enter gift cards, which are a stress free, seamless and safe way for gifts to arrive on time. Analysts estimate that the prepaid card industry will be 50% higher this holiday season than was estimated pre-pandemic. Gift cards have come a long way to now be the number one requested holiday gift, especially by the younger generation. Quoting Saumil Mehta, general manager for Square’s point-of-sale division; “they aren’t as free-form as handing someone a wad of cash. But it’s not so specific either. It kind of sits comfortably in the middle.”
Gift cards’ popularity may have to do with the flexibility and convenience for both the buyers and recipients. Taking only a minute or two to purchase and send, they can be as personal as gifting someone a card to use at their favorite local restaurant, salon or coffee shop, or to discover a new spot in their town. Retailers are taking notice of the staying power of gift cards as a way of attracting new customers even past the holiday season.
Yiftee partners with hundreds of local communities to focus on local merchants, without losing the simplicity of sending a gift card, or the personal touch of connecting recipients with their special local shops and restaurants. Both the giver and receiver of the gifts are at an advantage in what at first glance may seem like an impersonal online transaction. The ease of use and the value of giving back to their local community gives a special gift not only to the lucky recipient but also to their town’s economy.