Givex Information Technology Group Limited (TSE:GIVX) has released an update.
iFood, a prominent player in Latin America’s online food delivery market, has partnered with Givex to expand its gift card sales, aiming to triple its market presence in the sector in the coming years. Despite cultural hesitations in Brazil regarding the impersonality of gift cards, iFood has seen robust growth, with 900,000 cards sold monthly and a 25% increase in 2023 over the previous year. The company is diversifying its offerings, launching partnerships with well-known brands, and integrating gift cards into special occasions to enhance customer and business engagement.
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