Gift card use soars under the shadow of COVID-19 - new report

What are Americans looking for when they seek a gift card these days?

Rise.ai CEO and founder Yair Miron (photo credit: PR)
Rise.ai CEO and founder Yair Miron
(photo credit: PR)
Demand for digital gift cards had soared in the US market during COVID-19, Israeli company Rise.ai revealed in a recent study.
Traditionally, gift card sales increase with the approach of year end holidays, such as Christmas and New Year. This year, however, with COVID-19 disrupting many of the traditional purchasing routes, gift cards are now selling 198% more than last year at the same time, the firm reported in September.
What are Americans looking for when they seek a gift card these days?
Above all, to support local businesses and help the local economy, Rise reported.
Stores that engage in community work also reported higher demands, and large corporations opted to start giving workers gift cards to help small businesses.
Rise.ai itself was selected by Google and Facebook to offer services and guidance for small businesses. The firm offers online resources on its website to anyone interested in learning more about the subject.   
During the coronavirus pandemic, “supply chains got stuck”, Rise.ai CEO and founder Yair Miron said. “One of the only products that could be sent online was digital gift cards.”  
Rise serves around 3,500 digital stores, 80% of them based in the US. It is also active in 50 countries around the world.   
Miron predicted that the trend will continue, with Q4 2020 expected to be "one of the strongest times for eCommerce in general."  
He said that because of the fear of catching coronavirus, it is unlikely that come Black Friday people will swarm the stores. Rather, products will be ordered digitally and delivered.