Too many gift cards are never used. Givn is challenging decades of status quo in the gift card market with new business models - which make it possible to take gift cards into the future.
Every year, private individuals and companies buy gift cards for over 6 billion. How many of these gift cards are used?
No one knows for sure, because none of the traditional gift card companies want transparency about this. Estimates from NHH say that 30% of all gift cards are never used. We think the number is higher.
Our business model is to charge a fee from the companies that sell gift cards on our platform. We earn neither more nor less on gift cards that are not used.
This allows us to focus on better user experiences and consumer-friendly schemes (such as our Extension Guarantee). And the funds for gift cards that are not used - they go to the local businesses.
Experiences or material gifts? When we buy gifts, we make value choices. Thousands of small choices that together have great significance for our society.
Givn wants to be an alternative to giving "stuff" as gifts. That's why you won't find any international chains or shopping centers with us - only local businesses. We believe that is the future, and that is what we are working for.
Givn was born out of the ticket company Hoopla in 2020. As a result of the corona pandemic, ticket sales fell by more than 80%. Instead of laying off our talented people, we started the side project Givn.
The side project was a success, and now Givn has been separated as its own independent company. Givn is a real corona child!