Believe it or not, Swedish home-furnishings giant IKEA never offered a gift registry until a successful test of Israeli gifting platform Jifiti in its Portland, Oregon, store in 2014 convinced the multinational retailer to start rolling it out to additional branches at the end of this year.

“We specialize in gifting solutions for retailers and brands because we noticed, and retailers notice too, that gifting and shopping are different experiences. It’s easy to buy an item for yourself but not for someone else, ” says cofounder and chief marketing officer Shaul Weisband, speaking with ISRAEL21c from Columbus, Ohio, where the company has a six-member marketing and bus dev team complementing the R&D and operations staff of 21 in Modi’in, Israel.

When Weisband and his business partners Yaacov Martin and Meir Dudai established Jifiti in 2011, they intended to develop a technology to group stores onto a single online gift registry, but quickly realized a bigger opportunity in the gifting space.

An estimated 90 percent of potential gift purchasers fail to complete online checkout because the retailer doesn’t offer a gift registry or the ecommerce site is not optimized for gift-giving, says Weisband. In addition, around 35 percent of traditional gifts are returned. All of this adds up to billions in lost revenue.

So Jifiti devised three products to fit customer needs. “Each solution has at least one major brand using it, and now we’re positioned to become a leader in the gifting solutions space, ” says Weisband.