In its second-largest acquisition, Amazon buys the company for $970 million.
In the spring, GiftCertificates.com will offer products outside of gift certificates and gift cards. “We want to position ourselves as the go-to place for online gifting,” says Kathy Gersch, executive vice president of marketing and merchandising.
Major changes to its site and its product offerings two weeks ago were only the start of new initiatives by GiftCertificates.com, Kathy Gersch, executive vice president of marketing and merchandising tells InternetRetailer.com. At the end of September, GiftCertificates.com launched a new site that allowed customers for the first time to search by product, denomination or occasion. Previously, they had to search by retailer.
In the spring, GiftCertificates.com will offer products outside of gift certificates and gift cards, including greeting cards and gift packaging and wrap. “We want to position ourselves as they go-to place for online gifting,” Gersch says.
GiftCertificates.com acquires gift certificates from retailers at a discount and resells them online. It maintains its inventory in secure facilities in Omaha, NB. “We operate as if we are a retailer,” she says. “We sell a retail product to the consumer.”
GiftCertificates has about $100 million a year in sales and has been growing at 30% per year.