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Synchrony Financial's (SYF) GiftNow Platform to Help FTD

Synchrony Financial’s SYF GiftNow inked a deal with FTD, LLC, a leading florist whereby the latter will allow its customers to send virtual gift merchandise. GiftNow is a comprehensive Gift Experience Management solution that enables customers to send gifts to their loved ones in a seamless way.

Gifters can send customized digital gifts within a few seconds by leveraging the technology of this unique platform. Moreover, recipients can exchange and even modify the gifts before they send those out for shipment, aiding gift senders, recipients, corporate gifting plans and retailers in turn.

This modern florist collective is well-equipped with a network of 9,000 local florists and wants people to connect via a digital medium. Synchrony’s GiftNow solution will help shoppers send virtual gifts along with a personalized note by utilizing its cutting-edge technology. The U.S floral gifting market size is expected to reach a value of $17.5 billion by 2025 witnessing a CAGR of 5% from 2020-2025.

GiftNow has been allowing customers to enjoy benefits ever since it was acquired by Synchrony. The company acquired Loop Commerce, which also included GiftNow, an award winning, patented platform and service provider for digital as well as in-store gifting services.

Last December, this platform helped agencies and their clients send virtual and digital gifts experiences through digital corporate gifting programs amid the pandemic. This, in turn, helped companies build important business relationships via better engagement. The platform is taking the personalized gifting experience to another level.

The GiftNow Gift Experience Management (GXM) solution even helps agencies curate gifting preferences with merchandise that complement the event or the recipient's choices.

Recently, GiftNow inked a deal with Keys Soulcare, a lifestyle beauty brand, to form unique gifting experiences for their customers. Keys Soulcare has been gaining traction from GiftNow’s digital gift card platform for a while.
Known to eradicate the friction from gifting, GiftNow is now used by premium specialty and department retailers across the United States.

The digital gifting experience market holds plenty of opportunities and this is the right time to invest in it as people are still maintaining social distancing to avoid physical contact. Moreover, the online gifting landscape is rapidly evolving amid the pandemic.

Shares of this currently Zacks Rank #3 (Hold) company have soared 99.9% in a year’s time, outperforming its industry’s growth of 4.5%. Solid organic and inorganic growth, rising revenues and technological moves pave the way for its long-term growth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Stocks to Consider

Some better-ranked stocks in the same space are XP Inc. XP, Virtu Financial, Inc. VIRT and Evertec, Inc. EVTC. While XP sports a Zacks Rank #1 (Strong Buy), both Virtu Financial and Discover Financial hold a Zacks Rank #2 (Buy), currently.

XP Inc., Virtu Financial and Evertec came up with a trailing four-quarter surprise of 30%, 30% and 23.9%, respectively, on average.

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