Synchrony Financial’s (SYF) GiftNow platform to help FTD
Synchrony FinancialSYF GiftNow has entered into an agreement with FTD, LLC, a leading florist, under which the latter will allow its customers to send virtual gifts. GiftNow is a complete gift experience management solution that allows customers to send gifts to loved ones seamlessly.
Gifts can send personalized digital gifts in seconds by taking advantage of the technology of this unique platform. Additionally, recipients can exchange and even edit gifts before they are sent for shipping, in turn helping gift senders, recipients, corporate gift plans, and retailers.
This modern florist collective is well equipped with a network of 9,000 local florists and wants people to connect via digital medium. Synchrony’s GiftNow solution will help buyers send virtual gifts with a personalized note using its advanced technology. The size of the US floral gifts market is expected to reach a value of $ 17.5 billion by 2025, with a CAGR of 5% from 2020 to 2025.
GiftNow allows customers to enjoy benefits since its acquisition by Synchrony. The company acquired Loop Commerce, which also included GiftNow, a patented and award-winning platform and service provider for digital and in-store gift services.
Last December, this platform helped agencies and their clients send virtual and digital gift experiences through digital corporate gift programs amid the pandemic. This, in turn, has helped companies build meaningful business relationships through better engagement. The platform takes the personalized gifting experience to another level.
The GiftNow Gift Experience Management (GXM) solution even helps agencies organize gift preferences with merchandise that complements the event or recipient’s choices.
Recently, GiftNow signed an agreement with Keys Soulcare, a lifestyle beauty brand, to create unique gift experiences for their customers. Keys Soulcare has been gaining traction on GiftNow’s digital gift card platform for some time.
Known for eliminating the friction associated with gifts, GiftNow is now used by specialty retailers and high-end department stores across the United States.
The digital gift experience market offers plenty of opportunities and now is a good time to invest in it as people always maintain social distancing to avoid physical contact. Additionally, the online giveaway landscape is changing rapidly amid the pandemic.
The shares of this company currently Zacks Rank # 3 (Hold) have climbed 99.9% in one year, surpassing its industry’s growth of 4.5%. Strong organic and inorganic growth, rising revenues and technological developments pave the way for its long-term growth. You can see The full list of today’s Zacks # 1 Rank (Strong Buy) stocks here.
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Actions to consider
Some actions better classified in the same space are XP Inc. XP, Virtu Financial, Inc. VIRT and Evertec, Inc. EVTC. While XP sports a Zacks Rank # 1 (strong buy), Virtu Financial and Discover Financial currently hold a Zacks Rank # 2 (buy).
XP Inc., Virtu Financial and Evertec presented a surprise over the last four quarters of 30%, 30% and 23.9%, respectively, on average.
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