The initiatives include forming new
partnerships and expanding participation on special
occasions
TORONTO, April 17,
2024 /PRNewswire/ - Givex Corp. ("Givex") (TSX:
GIVX) (OTCQX: GIVXF) is pleased to share that iFood, a leader in
online food delivery throughout Latin
America, has launched an ambitious plan to significantly
grow its Givex-powered gift card sales, aiming to triple them in
the years ahead.
While gift cards are a real success among consumers when
choosing gifts in foreign markets, such as the USA, Europe,
and Australia, this trend has not
caught on in Brazil. That is, it
has not caught on yet, since iFood plans to triple
its size in this sector within the coming years. Currently, 900,000
cards are sold each month and, in the short-term, the target is to
end 2024 with growth of 15% to 20% compared to the previous year.
Givex is the technology partner behind the iFood gift card
solution.
The previously slow adoption of gift cards has cultural reasons.
For Brazilians, foregoing a physical present for a gift card feels
too impersonal. On the other hand, the situation has created new
opportunities and companies have started to invest in the
acquisition of cards for various use cases, from connecting with
customers to rewarding employees. The demand came from
organizations interested in adding value to their business and/or
strengthening the connection with people or with the brand.
Today, 37,000 companies use the iFood solution and more than 2
million people have benefitted from these partnerships.
Pernod Ricard, a company with a portfolio of over 240 beverage
brands, such as Absolut, Ballantine's, and Chivas Regal, used the iFood gift card in
Brazil for its promotional
campaign and launched an incentive program that rewarded
R$30 to any customer who purchased
one of the eligible labels included in the offer. With the card,
which was sent by e-mail, the consumer could then buy whatever they
want using the app.
TLC Latam, the firm responsible for the Pernod marketing action,
called "Open bar at home," did not comment on the numbers, but
stated that the results were solid. According to João de Galvão
Teles, Partnerships and Content Director at TLC Worldwide, the
company aims to offer high-value experiences to their clients' end
consumers. "The collaboration with iFood represents a significant
milestone," he highlights, which "reflects the synergy of
constantly elevating the standard of excellence."
"With the iFood gift card, we've evolved our campaigns, improved
our work, and leveraged our clients' sales," says Kamila Silva, Head of Purchasing at Banco
Daycoval, another iFood program partner.
Why the gift card?
Even faced with the challenges of opening this new market, the
gift card is one of iFood's main investments for growth. This gift
serves as a sales opportunity that would otherwise not occur – one
that generates new transactions.
For Frederico Nicolay, senior
business manager of the iFood restaurant platform, the card is
synonymous with practicality for the purchaser and freedom for the
recipient.
Along with restaurants, supermarkets, and drinks, the categories
of pet shops, pharmacies, and shopping are already available on the
iFood app. The shopping category alone boasts a wide range of
segments including presents, flowers, perfume, electronics, toys,
fashion, books and stationery, as well as adult items. To date,
there are 350,000 partners united on the platform, 3 million orders
made across all categories, and 1.3 million app downloads.
The number of establishments and products on offer on the iFood
app, with quick delivery included, not only makes for a better
experience for thousands of the app's users – it also generates
value when one of the company's cards is chosen as a gift, reward,
or bonus.
"There is nothing impersonal about it," ensures Nicolay. As a
strategy, the company envisions many new opportunities in physical
retail, such as bundling the purchase of a gift card with a bottle
of wine to celebrate special occasions. "Our challenge is to make
the gift card more giftable," adds Nicolay.
Beyond these strategies, iFood is also investing in partnerships
with other brands, such as Nintendo + iFood, Cacau Show + iFood,
and Lacta + iFood gift cards, which have been giftable on the app
and in digital stores since March
2023.
The results speak for themselves. Since the card was launched in
November 2019, there has been growth
of 400%. When comparing 2023 vs. 2022, growth was 25%.
"We are growing and finding opportunities," concludes
Nicolay.
About Givex (TSX: GIVX) (OTCQX:
GIVXF)
The world is changing. Givex is ready. Since 1999, Givex has
provided technology solutions that unleash the full potential of
engagement, creating and cultivating powerful connections that
unite brands and customers. With a global footprint of 132,000+
active locations across more than 100 countries, Givex unleashes
strategic insights, empowering brands through reliable technology
and exceptional support. Givex's integrated end-to-end management
solution provides Gift Cards, GivexPOS, Loyalty Programs and more,
creating growth opportunities for businesses of all sizes and
industries. Learn more about how to streamline workflows, tackle
complex challenges and transform data into actionable insights at
www.givex.com.
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SOURCE Givex Corporation
