e-gift service provider GIFTEE MALAYSIA SDN. BHD., a Malaysian subsidiary of Japan-based giftee, Inc., today announced their partnership with JUICE WORKS SDN. BHD. operates Juice Works Malaysia, a successful chain of fresh juice outlets in Malaysia, with a growing number of outlets in various key shopping locations in Klang Valley.
Under this partnership, Juice Works has implemented Giftee Malaysia’s eGift System to its 27 outlets nationwide. The eGift System implemented in Juice Works Malaysia allows e-gifts that are kind of E-Vouchers created by “eGift System” to be issued and redeemed instantly. Juice Works will now be able to seamlessly integrate and operate e-gift services on their own website.
Popularity of e-gifts in Malaysia surges
According to a report by Research and Markets, the gift card industry in Malaysia has done well to withstand the impact of economic slowdown brought on by COVID-19. In spite of such short-term challenges, the e-gift industry is experiencing a strong growth momentum due to factors such as the growth of e-commerce, companies wanting to engage and incentivise remote working employees, as well as efforts to support local businesses and a shift in gift-buying behaviour.
The Malaysian e-gift industry is expected to record a compound annual growth rate of 26.4% from 2020 to 2024 and is predicted to reach US$787.6 million by 2024.
There has been a drastic surge in the demand for digital gifting solutions since the onset of the pandemic. 2020 saw an 80 percent increase in global searches for online gifts as compared to the previous year.
“Retailers are always looking for a new and better way to build a direct relationship with their customers and we are proud that Giftee Malaysia is able to help them respond to changing consumer behaviours and offer e-gifts,” said Ryo Okubo, Chief Operating Officer of Giftee Malaysia.
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