Giftly allows consumers to give a “gift” of money that is meant to be used like a gift card at a specific store, restaurant, theater, etc.   The gift giver chooses how he or she wants to send the money and personalized directions for how they wish the recipient to spend it.  The recipient chooses the most convenient way to spend the funds (credit to debit/credit account, PayPal account, etc.). Finally, the recipient can share how the money was spent with the gift giver.

Giftly is focused on a market of gift givers who prefer to send money or gift cards, but may want the recipient to use money for a specific purpose.

Giftly’s customers want to make their gift personal and avoid sending money without a clear purpose for the gift.  Giftly’s founder started the company based on the problem that a gift giver might have a specific idea for a gift, but is unable to purchase a gift certificate to a specific merchant. Customers now have a solution to this problem using Giftly.   I believe Giftly is a painkiller.  It helps eliminate the annoyance of not being able to find the specific gift card you want to send or the unsettling feeling that money is an impersonal gift.

Giftly’s competition is truly the simplified process of gifting money through PayPal or writing a check to the intended recipient.  With a personalized note, the gift giver can communicate what the money is intended to purchase.  In return, recipients can already take photos of the product or experience purchased, send thank-you notes, or call the gift giver to communicate how much they enjoyed the gift.  However, given Giftly’s e-commerce presence, the ability to quickly send money, and the effort to make the process more personal, they have been able to draw a tech-friendly customer base.   In addition, Giftly’s website makes suggestions for specific merchants based on gender, price, and retail sector.

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