by Dominic McGonigal, Co-Founder and Chair of JiveBird
COVID-19 came as a rude awakening to the greetings industry. Highlighting the demand for online greetings, investors are seizing the opportunity and backing digital offerings. However, it does pose the question as to why the greeting and gifting market is so late to digitise.
Leading greetings giant, Moonpig brought partial digitisation and the rewards were ripe for picking. Their IPO earlier this month created the first eGreeting unicorn with an initial valuation of £1.2 billion and sent the city was sent into a frenzy. As Moonpig launched its float on the London Stock Exchange, fully digital eGreeting business JiveBird hit 90% of the minimum fundraising investment target within 24 hours of opening. Opportunity in the eGreetings market was being recognised.
However, let us not forget that 2020 was also a successful year for Moonpig. Recording a record £156m in sales in the first six months, more than the entire year of 2019, the Moonpig app witnessed downloads triple in the first three months of the first lockdown.
The eGreetings industry is a healthy and fruitful market, so perhaps it’s no surprise that we’re now seeing investors notice the vast potential that eGreetings have to offer.
However, considering the eGreetings market is a service which is steadily becoming more effortless, despite its recent successes, the market still only makes up just 10% of an industry that is worth £7 billion. I anticipate we will see this percentage rise as the market continues to expand on its offering and we celebrate continued triumphs.
This will be further supported by consumer demand. Across the globe consumers have been looking for ways to keep in touch, celebrate birthdays and acknowledge special occasions during the pandemic. With store closures across the country and access to the high-street permitted to essential shops only, consumers had to look online to find cards and gifts.
Furthermore, they are looking for ways to take their greetings cards to the next level and add a touch of personalisation. This is something the eGreetings market can take advantage of. Utilising technological innovations, consumers can now not only send just an eGreeting or eCard, but they can include a hit song, personalised voice or video messages, and soon, even moving images and augmented reality. All of this takes an eGreeting to a level far beyond a physical card that you can pick up from the local shop.
A convenience edge
It is these innovations and features that enable the eGreetings market to have an edge over its more traditional competitor. There is also a layer of convenience that comes with an eGreeting – something that is vital in the current climate.
COVID-19 has unmistakably been a terribly difficult and unforgettable time for all. However, the eGreeting and eGifts market has been able to put the customer at the heart of their product and offer a service that can be organised, delivered and received whilst remaining at home. Neither sender nor recipient of an eGreeting needs to worry about postage or leaving their home at a time when it is nerve-wracking to do so.
Perhaps this is why we have seen the eGreeting market peak during lockdown 3.0. With whisperings of lockdown easing, there is still a level of uncertainty around when we will be able to be reunited with our loved ones and with holidays such as Easter and Mother’s Day on the horizon, there has never been a better time for the eGreetings market to thrive.
This is just one of the reasons as to why JiveBird is launching. We want to help consumers deliver something that is 100% personal and that feels like a virtual hug at the times when it means the most. JiveBird is flying high when it comes to delivering a smile and spreading happiness.
We want to revolutionise the industry with a simple tap of a button. JiveBird is a 100% digital eGreeting and eGifting experience platform. Users can send a personally recorded voice message linked to a well-known and famous song from a constantly updated library of 35,000 fully licenced song tracks, plus decide whether to send an eCard or PhotoCard using a selfie or image uploaded from their own device library.
A digital eGfit voucher can then be added and are available from a wealth of top UK retailers including Marks and Spencer, The Body Shop, National Trust, Starbucks and more. Working in collaboration with these top retailers and brands, together we are able to put smiles on people’s faces at times of unease and unrest. Delivery of your specially tailored greeting will then be sent to your recipient via email, phone and text, either instantly or on a scheduled date, meaning you can ensure you will never miss a celebration or special occasion again. All of this can be done via our app which is available to download on iOS and Android.
Right now, the eGreetings market is booming. It’s an exciting time for the industry and at JiveBird we’re excited to be making waves and turning the industry on its head.
Digital has hit the greetings industry and is certainly here to stay.