Social Gifting
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Transcript of Social Gifting
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Social Gi1ing -‐ What is it?
• Social gi>ing is the latest trend in retail.
• People on Facebook and other social networks buy each other gi>s.
• People can give away a gi> using a smartphone.
• Friends buy each other gi> cards from parGcipaGng retailers either individually or by teaming up, which they can store on their mobile devices and redeem either online or inside physical stores.
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Social Gi1ing is the intersec<on of 3 major trends
• Gi> cards: Big brands like them because they don't "cheapen" the brand/product in the mind of consumers (contrary to daily deals).
• Social networks: People love to share and let others know, and giving is social by nature
• Mobile: Our mobile phones are with us all the way through our path to the purchase counter.
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Some Stats
• e-‐gi>ing accounted just for $1 billion of the $100 billion gi> card industry last year. Of that $1 billion, social gi>ing made up only about 5% or $50 million. (1)
• Since November 2011 more than 165,000 acGve users have given over 1.4 million gi> cards that can be redeemed in some 50 major retail stores across Europe. (2)
• Starbucks is expecGng social gi>ing to take up as much as one fi>h of all its gi>ing revenues in the very near future. (3)
Sources: CEB TowerGroup (1) Wrapp.com (2) Starbucks (3)
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US. Gi1 Card Spend
Sources: CEB TowerGroup
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Why do Retailers Like it?
• Costs retailers almost nothing! All the markeGng cost is handled by the social gi>ing company. No cards have to be printed because it’s all handled digitally.
• Gives brick-‐and-‐mortar retailers new & more efficient ways to drive sales into stores without diluGng their brands.
• Provides retailers an opportunity to reach out to their target buyers and promote their brands at almost no extra cost.
• Offers a social markeGng acquisiGon channel that increases the frequency of engagement with exisGng customers, and ulGmately increases traffic to their physical store locaGons.
• In conclusion, with Social gi>ing there is lihle markeGng costs for retailers, and customers end up buying more once their inside the store.
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Retailers Survey
• 65 percent of retailers believe eGi>s are a successful tool in building loyalty and establishing online relaGonships with customers.
• Nearly half of the retailers surveyed plan to improve the mobile shopping experience for their customers in the next year.
• 60 percent of retail partners agreed that it is important for eGi> Card delivery to be instant.
• 45 percent of retail partners surveyed agreed that a combinaGon of personalized video, text, photos and mulGple design opGons are important features for eGi>.
CashStar's Annual Digital Gi>ing Retailer Roundtable, July 2012
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Group Buying vs. Social Gi1ing
• Group Buying made waves by providing online deals to customers from various retailers. It rode on the euphoria around “gemng something for free.”
• Group Buying brought new business to many retailers.
• Some retailers saw a decrease in online raGngs due to these deals, while others did not see repeat business materialize.
• In some cases, retailers lost money. For example a bakery lost $20,000 because they did not plan for the surge in customers and had to hire addiGonal help to manage the increase in demand.
• In contract, Social gi>ing, does not place pressure on retailers in the same way (Note: The broad idea of Wrapp’s marke6ng scheme was a;ained from Groupon. However, Wrapp does not charge the retailer unless the transac6on has been completed).
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Amazon granted patent on Electronic Gi1ing (May 2012)
GeekWire: hhp://bit.ly/QCvJ6N
US Patent Office: hhp://1.usa.gov/W377EV
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Wrapp.com
A Swedish company that has raised $10.5 million. AcGve in 8 countries, including the US.
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Karma (getkarma.com)
Acquired by Facebook earlier this year.
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Facebook launches Gi>s Se0 28, 2012.
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Boomerang (rang.com)
Backed by Lightbank, the investment fund created by Groupon founders Eric Letofsky and Brad Keywell.
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Treater.com
Raised $2.5 million. Users can instantly send gi>s like a coffee, cupcake or a cocktail to friends on their mobile devices in mere seconds.
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WanUul.com
raised $5.5 million in Series A funding for their customized gi> plavorm, which acts as a personalized gi> card
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Givable.co
An australian based start-‐up. Formely known as Gri>less.
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Gi1socially.com
Allows gi> drives: many people collecGvely buy a gi> for a friend.
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Gi1sproject.com
Acquired by eBay. Offers a white label soluGon for social gi>ing for online retailers, marketplaces and gi> stores.
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Shopycat (facebook.com/shopycat)
A service by Walmart. Finds and analyzes your friends' likes and dislikes and suggests gi>s. Its a Facebook App.
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Socialgi1.com
Allows users to set-‐up gi> drives.
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Gy1.com
Launched at TC Disrupt 2012. Lets users buy, save, redeem and share gi> cards using an iPhone. Integrated with Apple’s Passbook app in iOS 6.
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Jifi<.com
A gi>ing plavorm that allows users to spot, share and redeem gi>s while walking through their favorite stores.
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Flikgi1.com
An Australian social gi>ing service.
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Gi1sToFriends.de
A German service that offers social gi>ing on and off Facebook.
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DropGi1s.com
A German service with a presence in 11 countries, including the US. Its a venture by the Samwer brothers.
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Gi1ly.com
Lets users send any kind of gi> to a friend or family member, without having to go through a merchant.
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Gi1Rocket.com
A 2011 Y Combinator grad, is a simple P2P digital gi>ing service that lets users send and receive digital gi> cards via email.
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CashStar.com
Digital eGi> Card for naGonal & local restaurants and retail stores.
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PayPool.nl
A Dutch social gi>ing app.
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THANK YOU!
Louis Hatzis -‐ [email protected] -‐ twiher.com/louishatzis -‐ facebook.com/louishatzis -‐ linkedin.com/in/louishatzis