Prezzee’s technology overcomes the hassle consumers faced by losing or forgetting their gift cards when going to the shops. But it also captures a growing trend for consumers to shop online, for both gift giving and purchases. Via its app, consumers can buy, send and store eGift cards from a range of retailers.
It also sells a Smart eGift Card allowing the gift recipient to choose from a suite of big name retailers they want to spend their gift card with.
Mr Bonett said a forced shift in consumer spending driven by the COVID-19 crisis was helping drive demand for Prezzee’s Smart eGift card. It has accelerated a shift already occurring through online shopping growth and a trend for consumers to make more environmentally friendly choices.
The gift card market is worth about $6 billion and Prezzee claims to hold a 5 per cent share. Other providers include global tech