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The Growth of Digital Gifting in Nigeria

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Digital Gifting - Investors King

Over the past decade, Digital gifting has significantly evolved. This can be heavily attributed to technology which has created awareness and attractiveness about them. The growth in the gift card market is due to the rise in demand for gift cards in various sectors, including the corporate sector.

What is Digital Gifting?

You may be wondering, “what exactly is digital gifting?” What does it entail? and how does it work? Digital gift cards are Electronic gift cards sent by retailers usually to your Email after payment. Electronic gift cards perform the same function as physical cards, they both have     Gift codes and can both be used as an alternative means of payment the major difference is Digital gift cards cannot be held unless it’s printed.

Thanks to technology, everybody can get their hands on an E-card from the comfort of their homes and offices. Retailers are all over the internet, all you need to do is search for the particular brand you want and amount on secure websites.

Many brands over the years have incorporated digital gift cards to avoid being left behind. Recently, Card owners now enjoy funding their Digital cards due to the ease it provides when it comes to making payments. Also, some of these E gift cards have high cashback value when considering selling the gift code. Which has created a bit of confidence in the minds of Card owners. The fact that purchasing these cards is not permanent provides a sense of relief. However, you should ensure to watch out for the fakes and trade on trusted platforms. A recent gift card survey stated that consumers tend to go for reloadable gift cards over regular gift cards as they can reuse them.

The request and sales for digital over paper ones skyrocketed in the past decade. Studies have hinged this on environmental issues as regards plastics. It is also projected that physical gift cards may soon be outdated.

Analysis

A gift card survey once said ‘The growth in e-gifting sales, from $300 million in 2012 to an expected $3 billion this year, supports a healthy trajectory of growth for the market as a whole.’

The e-gifting trend has helped propel continued growth in the gift card market. Over $140 billion in sales since 2016. E-gifting has topped $10 billion and filled a niche for customers looking to buy and send their gifts to recipients they do not have to meet in person.

In 2020, the adoption of e-Gift cards increased tremendously during the global pandemic; covid-19.

This trend boosted the continued growth in the gift card market with an excess of $140 billion in sales since 2016. Digital gifting is advantageous and eliminates the process of having to meet the recipient in person before the gift card can be received.

Due to its convenience and flexibility, digital gifting has added a significant impact to the gift card industry. It has also brought about various considerations to limit or reduce the number of physical card productions.

In the United States alone, the gift card industry is expected to record a compound annual growth of 9.2% during 2020-2024. The market is expected to increase from US$ 163,050.7 million in 2019 to US$ 221,146.6 million by 2024. These numbers are estimated on the continued adoption of physical and digital gift cards by millennials, rising e-commerce, and an increase in demand for cryptocurrencies in the USA.

Conclusion

We are now in a time where the world is conforming to Blockchain technology, digital currencies and gifting. People are finding alternative and easier methods of making payments. As a brand to further provide convenience for your customers, you should seriously consider how to incorporate Gift cards into your business if you are not already on board.

 

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Sport Business

Usyk Claims Victory Over Fury in Historic Bout, Becomes Undisputed Heavyweight Champion

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Oleksandr Usyk emerged victorious over Tyson Fury to claim the title of undisputed heavyweight champion.

The highly anticipated bout, held in Riyadh, Saudi Arabia, showcased the remarkable skill and determination of both fighters, culminating in a split-decision victory for Usyk.

From the opening bell, the tension was palpable as Fury, the reigning WBC champion, and Usyk, the unified cruiserweight champion, squared off in the ring.

Fury, known for his towering stature and formidable punching power, sought to impose his will early on, using his reach advantage to keep Usyk at bay.

However, Usyk, undeterred by the size disparity, showcased his superior footwork and technical prowess, darting in and out of Fury’s range to land precise counterpunches.

As the rounds progressed, the momentum shifted back and forth between the two fighters, with each landing significant blows and demonstrating their resilience in the face of adversity.

Fury’s powerful punches tested Usyk’s chin, while Usyk’s speed and agility kept Fury on the defensive.

In the pivotal moments of the fight, Usyk delivered a masterful performance in the later rounds, capitalizing on Fury’s fatigue to unleash a barrage of punches that rocked the defending champion.

Despite Fury’s valiant efforts to rally back, Usyk’s relentless pressure and pinpoint accuracy earned him the judges’ favor, securing a split-decision victory and etching his name in the annals of boxing history.

With this triumph, Usyk joins the ranks of legendary heavyweight champions, becoming the first undisputed heavyweight champion since Lennox Lewis more than two decades ago.

His victory not only cements his status as one of the sport’s elite athletes but also signals a new era in the heavyweight division, characterized by fierce competition and unparalleled skill.

As the boxing world reels from the electrifying showdown, fans and pundits alike eagerly await the prospect of a rematch between Usyk and Fury. With both fighters showcasing their championship pedigree, the stage is set for another epic clash that promises to captivate audiences worldwide.

In the aftermath of his victory, Usyk expressed gratitude to his team, his country, and his faith, attributing his success to hard work and dedication.

Meanwhile, Fury, while disappointed with the outcome, vowed to bounce back stronger and reclaim his title in the anticipated rematch.

As the boxing world celebrates Usyk’s historic achievement, his victory serves as a testament to the enduring spirit of sportsmanship and the unyielding pursuit of excellence in the noble art of boxing.

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Education

JAMB Releases 36,540 Withheld UTME Results, Dismisses Cyber Breach Claims

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The Joint Admission and Matriculation Board (JAMB) has quelled concerns over the integrity of the Unified Tertiary Matriculation Examination (UTME) results by releasing an additional 36,540 previously withheld scores.

This move follows earlier revelations of withheld results and assertions of a cyber security breach.

Fabian Benjamin, the spokesperson for JAMB, confirmed the release of these results in a statement issued late Tuesday in Abuja.

This latest batch of released scores, when combined with the 531 previously unveiled, brings the total number of results made public to 1,879,437.

Benjamin took the opportunity to address circulating rumors regarding the security of the UTME results.

He categorically dismissed claims of a cyber security breach, saying that the examination outcomes remain intact and securely stored.

He stressed that the results are not stored in any cloud system and thus cannot be compromised by external entities.

At the time of the UTME release, JAMB had disclosed that certain results were withheld pending further investigation.

Subsequently, 531 of these results were recently unveiled with the remainder still under scrutiny.

Benjamin explained that any candidates implicated in examination malpractice are undergoing thorough investigation.

The examination board intends to meticulously review footage from CCTV cameras installed across all accredited centers to ascertain each candidate’s involvement.

Benjamin urged the public to remain vigilant against misinformation originating from sources not affiliated with JAMB.

He attributed the discrepancies in minimum admissible scores to variations among tertiary institutions. Some institutions, he noted, proposed lower minimum scores than others, resulting in varying benchmarks.

Benjamin clarified that these benchmarks are determined collectively by all Heads of Institutions during the annual Policy Meeting on Admissions, ensuring uniformity across the country.

Also, Benjamin cautioned religious organizations against overstepping their designated roles.

He warned against the dissemination of false information to governmental bodies for personal gain.

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Travel

British Airways Owner IAG Prepares for Summer Surge Amid High Travel Demand

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british-airways

As the world gradually emerges from the grip of the pandemic, the travel industry is witnessing a resurgence in demand with British Airways owner IAG SA gearing up for a busy summer season.

Despite lingering challenges, the airline conglomerate remains optimistic about the outlook, citing strong demand for travel within Europe and across the Atlantic.

In a recent stock exchange filing, IAG disclosed an adjusted operating profit of €68 million ($73.3 million) for the three months ending March.

According to Chief Executive Officer Luis Gallego, the group’s core markets, including the North Atlantic, South Atlantic, and intra-Europe routes, have shown robust performance, positioning them well for the upcoming peak travel period.

With vaccination rates increasing and travel restrictions easing in many parts of the world, consumers are eager to resume travel plans, fueling the surge in demand.

However, the road ahead is not without its challenges. While travel within Europe and across the Atlantic remains strong, other regions present a more complex operating environment.

The ongoing conflict in the Middle East has dampened demand for certain destinations, while airspace restrictions resulting from geopolitical tensions, such as the Russian invasion of Ukraine, have disrupted flight routes to East Asia.

Despite these hurdles, IAG remains resilient, banking on the strength of its core markets and the performance of its brands to weather the storm.

The company’s strategic positioning and proactive measures to adapt to changing circumstances have positioned it to capitalize on the rebound in travel demand.

As the summer season approaches, IAG is focused on ensuring operational readiness to meet the surge in passenger numbers.

With travelers eager to reconnect with loved ones, explore new destinations, and embark on long-awaited vacations, the airline group stands ready to facilitate safe and seamless travel experiences.

As vaccination campaigns progress and travel sentiment rebounds, IAG’s proactive approach and strategic investments position it as a key player in the aviation industry’s recovery journey. With optimism on the horizon, the company remains committed to delivering exceptional service and fostering a seamless travel experience for passengers worldwide.

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