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GiftCertificates.com posts record year with 35% increase in revenue
GiftCertificates.com, which sells certificates redeemable at about 200 merchants, said it reached record sales in 2003 of $95 million, an increase of 35% from $70.4 million in 2002.
Managing Editor, B2B E-commerce
GiftCertificates.com, which sells certificates redeemable at about 200 merchants, said it reached record sales in 2003 of $95 million, an increase of 35% from $70.4 million in 2002. The company also reported its first quarterly operating profit in the fourth quarter, CEO Michael Ahern said.
GiftCertificates’ participating retailers include Amazon.com, Macy’s, Eddie Bauer, The Sharper Image, Red Lobster and Marriott Hotels, Resorts & Suites. In addition to selling certificates directly to consumers, it works with nearly 20,000 corporate customers.
Its best-selling item last year was its SuperCertificate, which can be redeemed at GiftCertificates.com for original certificates issued by any of its participating retailers. "SuperCertificates sales grew faster than individual merchant certificates as a whole," Ahern said. Sales of SuperCertificates in 2003 rose 40% over 2002, he added.
Ahern attributed the company’s growth to the popularity of the SuperCertificates as well as an increase in its number of participating merchants. Among its newest participants are Carnival Cruises and SonyAwards.com.