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Thursday
Dec192013

E-Gifts Rise in Popularity

iStock/Thinkstock(NEW YORK) -- Don’t be too surprised if you receive an e-gift this holiday season.

Last year’s sales of these electronic versions of gift cards totaled $300 million. In 2013, ten times as many e-gifts have been purchased.

They’re similar to digital greeting cards, but recipients can redeem them just as they would a gift card.  Meanwhile, e-gifts can be customized with a message and can include your photo or a pre-produced animation video.

What’s more, e-gifts are delivered via text, mobile app or email and generally have no expiration date. Stores that offer regular gift cards often offer a selection of e-gifts online as well.

CEB TowerGroup, which is keeping track of the e-gift phenomenon, says that sales should expand to $10 billion by 2016, making up a nice share of the gift card market, which should also exceed $140 billion by that year.

Copyright 2013 ABC News Radio