Parents are focusing on games, ecommerce, and virtual/financial gifts for their kids
Waltham, Mass., Nov. 24, 2020 – Jassby, Inc., the fintech company that created one of the industry’s top family finance apps, today announced results of a survey asking 600 parents with kids under 7-17 years old 10 questions around the impact of Covid on their family gift giving plan this holiday season. What Jassby found was most families are changing up their gifting habits to be more virtual, or are shopping online instead of in stores. This season, Jassby is seeing a strong emphasis on video games and electronics, as well as money and virtual gift cards. Some key takeaways:
- 88% are considering giving family/friends Digital gifts (gift cards/money) this year as a result of the pandemic
- 81% of parents said their gift giving would change this year (35% say fewer gifts, 77% say they will give either physical or digital gift cards in lieu of other gifts, 48% say they will purchase more online instead of going to retail stores)
- 55% of people are changing typical gatherings to either not gather with family or gather virtually
- Only 39% of people plan to give gifts in-person this year
- 62% are purchasing gifts for their kids on behalf of other family members, with 60% saying this is different than in years past
The survey results show a clear impact on familiy traditions. “We are definitely in for a different type of holiday season”, said Benny Nachman, Founder and CEO of Jassby. Nachman added, “Tools and services allowing extended family to stay connected to the gift giving process and allow parents to make purchases safely, will have a major impact in keeping the holidays joyous.”
Jassby makes it easy for parents and grandparents to send kids money digitally, that they can then spend in-app or anywhere Mastercard or ApplePay are accepted. The company is also publishing a gift giving guide to allow for contactless purchasing with direct delivery to kids. For full details, please visit www.Jassby.com or download the Jassby app in the Apple store today.
Jassby, headquartered in Waltham, MA, is a Fintech start-up company founded in 2018 with the vision to bring banking and financial services to Generations Z and Alpha and to promote financial literacy through a mobile payments app. Jassby offers families a service through which kids can receive money from their parents and grandparents, and can then save, donate, or shop, all on a safe, controlled, and fully digital state-of-the-art platform. In the past two years, the company has added over 400,000 installs and converted 42 percent to registered users, while enhancing its product to meet the evolving needs of the families it serves.