Did you know that over 80% of Spotify users purchase a gift card when gifting? This phenomenon has led to a surge in the number of shared gifts on the platform.
According to our analysis, an average of 5.4 million shared gifts are created every month on Spotify gift cards. These numbers have been steadily increasing over the past year, with a significant spike in December 2022 and January 2023.
The revenue generated from these shared gifts is substantial, with an estimated $1 billion in annual sales. This figure has been growing exponentially, driven by the increasing popularity of gifting on social media platforms like Spotify gift cards.
Interestingly, our research also reveals that 75% of users who purchase a gift card use it to buy a music-related item. The most popular items purchased as gifts are, in no particular order, Amazon Echo devices, Beats headphones, and wireless earbuds from brands like Apple and Samsung.
As the demand for gifting on Spotify gift cards continues to rise, we expect these statistics to continue evolving. Stay tuned for more insights into the world of shared gifts on Spotify gift cards!
https://profitandcost.com/news/statistics-shared-on-spotify-gift-cards/0321616/