- In February 2024, Walmart has agreed to acquire VIZIO Holding Corp. for USD 2.3 billion. This acquisition allows Walmart to leverage VIZIO’s SmartCast Operating System to enhance customer engagement and advertising capabilities. By integrating VIZIO’s platform, Walmart can offer personalized gift card options and targeted promotional campaigns, improving the consumer experience and driving sales
- In January 2024, Best Buy highlighted the versatility of its gift cards, which offer recipients the freedom to choose from a wide range of products, including electronics and home appliances. The company integrated gift cards with the My Best Buy Rewards Program, allowing users to earn points and access exclusive promotions. Best Buy also provided seasonal and occasional promotions, enhancing the value of gift cards. The cards are available online and in-store, offering a seamless redemption experience
- In May 2022, Starbucks Coffee Company reported over USD 1 billion in unused gift card balances. CEO Howard Schultz revealed that Starbucks gift cards are used by over 120 million people annually. In 2021, customers added USD 11 billion to these cards, contributing significantly to the company's revenue
- In February 2023, Walgreens has acquired Pharmaca and will shut down all Pharmaca locations, including the Santa Fe store, by February 25, 2023. This acquisition allows Walgreens to access Pharmaca's prescription files and inventory, potentially boosting their pharmacy services. Customers holding Pharmaca gift cards should verify redemption options at nearby Walgreens stores
- In October 2023, PayPal.com introduced a new feature on Venmo allowing users to send and receive gift cards from popular brands like Starbucks, Amazon, and Target directly through the app. This feature provided a convenient way for customers to gift digitally, enhancing the gifting experience on Venmo. The company benefited by expanding its digital gifting options, appealing to the growing trend of digital transactions, and potentially increasing user engagement on the platform
