Online sales grew by more than 30% in the fourth quarter, but store sales slid by 6.1% year over year.
CashStar partners with National Gift Card Corp. to launch eCorporate Incentives to connect online retailers with corporate buyers.
Digital gifting and incentives company CashStar this week announced eCorporate Incentives, a program allowing companies to order highly-personalized digital gift cards from online retailers in bulk and e-mail them directly to recipients. The business-to-business digital gifting option enables companies to manage bulk purchases through a web interface that provides for personalized messages, differing dollar amounts and unique card designs that can be co-branded with a corporate logo on a retailer’s gift card.
CashStar says the B2B incentives market is estimated at $25 billion to $75 billion, with the potential to grow as digital cards become more widely available. “The business-to-business corporate incentives market is very important in the restaurant industry, and eCorporate Incentives simplifies gift card management and fulfillment,” says Cary Kuykendall, gift card manager at O’Charley’s Inc., which operates 368 restaurants in the U.S.
“Roughly half of all companies running incentives and rewards programs leverage the Internet, yet there was no easy way for purchasing and sending digital gift cards in bulk,” says David Stone, CEO and co-founder of CashStar. “Gift cards are rapidly becoming the incentive of choice and CashStar’s ability to deliver on the promise of near instant gratification for incentives and rewards is unique to our platform.”
After setting up an eCorporate Incentives account, a retailer’s corporate customers can set up their own account, sometimes receiving a discounted bulk rate. Corporate digital gift cards are highly customizable and easy to track, in addition to being almost immediately received by recipients, as opposed to the process of sending plastic gift cards in the mail.
CashStar also announced a partnership with National Gift Card Corp., or NGC, a distributor of discounted gift cards, ensuring the distribution of CashStar’s digital gift cards to thousands of NGC’s customers. “Our partnership with CashStar provides another technology solution and offers alternatives for our corporate customers,” says Rick Rubin, vice president of strategic partnerships at NGC. Adds Stone, “We are pleased to partner with NGC to leverage their long-standing and deep relationships with the leading retailers across the country, while providing new and innovative digital solutions for the corporate incentives market.”