Mobile Mother's Day eGift Card Sales Propel CashStar Growth Momentum Continues Company's Record First Quarter Performance
PORTLAND, Maine, May 16, 2013 /PRNewswire/ -- The second biggest eGifting holiday of the year next to Christmas continues to be a signal of consumers' enthusiastic adoption of eGift Cards. With nearly 300 leading retailer and restaurant brands on its eGifting platform, CashStar achieved a nearly 80 percent year-over-year increase in gross sales for Mother's Day eGifts and an increase of nearly 70 percent in total number of cards sold. CashStar's eGifting growth is nearly 6x greater than the first quarter year-over-year overall growth of e-commerce sales, which Internet Retailer reported at 14 percent.
Growth in mobile purchases was equally pronounced, with busy, on-the-go shoppers comprising an ever-increasing segment of the population. The perfect solution for consumers who need a thoughtful, personalized gift and need it fast, eGift Cards purchased on a mobile device continued their upward trend. Mobile purchases during the week of Mother's Day went from nine percent in 2012 to 12 percent by Christmas week in 2012. 2013 mobile purchases the week of Mother's Day jumped to 16 percent (a 74 percent increase over 2012), and then soared to 25 percent on Mother's Day itself, enabling retailers to capture last-minute sales that would have likely been lost otherwise.
Initial data analysis indicates that CashStar brands that actively promoted eGifts via marketing campaigns and prominent web site placement experienced more than 10x higher growth in Mother's Day sales than brands that did not promote. "These results illustrate that, even on the cutting edge of mCommerce, the classic Four Ps of marketing, in this case Promotion and Place, are still fundamental ingredients to driving sales," said CashStar Vice President of Marketing Gene Cornfield.
CashStar's Mother's Day results come on the heels of a record first quarter for the company, which more than doubled its sales over the same period in 2012. Quick-Service Restaurants and Electronics brands led with organic year-over-year growth of 209 percent and 118 percent, respectively.
"It feels like Christmas came early for CashStar this year," said Cornfield. "We're very much looking forward to a spectacular rest of 2013 for us, for our clients and partners, and for the digital gifting and mobile payments industries."
CashStar is the world's leading digital gifting and incentives company, preferred by the world's leading retailers. More than 250 brands leverage CashStar's on-demand B2C and B2B gifting technology and multi-channel marketing strategies. CashStar's brands acquire new customers, drive incremental sales, increase loyalty, and boost profitability by delivering unparalleled personalized, secure, and engaging eGift experiences via email, mobile and social channels. CashStar's clients include Best Buy, Chili's Grill & Bar, Gap, Pottery Barn, QVC, Sephora, Staples, Starbucks, The Cheesecake Factory, The Home Depot, and Williams-Sonoma. To learn more about how CashStar is constantly innovating the way businesses strategically leverage gifting in the digital world, please visit www.cashstar.com or e-mail firstname.lastname@example.org.
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