Giftify, Inc. Boosts Market Share with CVS Gift Card Exchange

Giftify, Inc. (GIFT), a pioneer in the incentive and rewards industry, has seen a significant boost in its market share and revenue growth, thanks in part to its strategic partnership with CVS. The company's leading digital platforms, CardCash.com and Restaurant.com, have been powering CVS's gift card exchange program, enabling customers to trade in unwanted gift cards for CVS store e-credit. This innovative service has not only enhanced CVS's customer experience but has also brought numerous benefits to Giftify, Inc.



The CVS partnership has been a game-changer for Giftify, Inc. As of Q3 2024, the company's market share within the Internet, E-commerce, Online Shops Industry stood at 25.87%, and within the Retail Sector, it was 25.87%. The CVS gift card exchange program, now entering its second year, has expanded Giftify's reach and offered more value to its customers, potentially increasing its market share and revenue. In 2024, Giftify's annual revenue surpassed the previously forecasted $85 million, driven by robust sales growth during the Black Friday through Cyber Monday shopping holiday and the strong 2024 year-end holiday season.



The CVS partnership has brought several strategic benefits to Giftify, Inc. By powering CVS's gift card exchange program, Giftify has:

1. Increased its market reach, exposing its services to a larger audience and potentially driving more users to its platforms.
2. Strengthened its brand recognition and credibility by associating with a well-known brand like CVS.
3. Diversified its revenue streams, opening up a new income source through the CVS partnership.
4. Gained a competitive edge by demonstrating its ability to provide innovative and valuable services to large-scale retailers.

Ketan Thakker, Chief Executive Officer of Giftify, Inc., commented on the partnership, stating, "We are pleased to enter our second year working together with CVS in enabling their gift card exchange program. More and more retailers are aligning with our vision... The option to trade in your unwanted gift cards online is a win-win for all."

In conclusion, Giftify, Inc.'s partnership with CVS has significantly enhanced its competitive position within the incentives and rewards industry. By powering CVS's gift card exchange program, Giftify has expanded its market reach, strengthened its brand, and diversified its revenue streams. As the company continues to innovate and adapt to the needs of its clients, it is well-positioned to maintain its growth trajectory and solidify its market leadership.