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Below is our recent interview with Nancy Lee, President at MyRegistry:
Q: Could you provide our readers with a brief introduction to MyRegistry?
A: MyRegistry is a universal gift registry platform that gives its users the ability to create one centralized gift list for Weddings, Baby Showers, Birthdays, Graduations, Housewarmings, Holidays, etc., and add gifts from any store in the world. Existing store registries can be easily imported onto a MyRegistry gift list and users can create and sync new store registries at any time. We even have an app that turns our users’ smartphones into barcode scanners that they can use at any store to instantly add items to their gift list.
Along with offering registry services to individuals, many organizations and nonprofits use MyRegistry as a valuable fundraising tool and convenient resource for requesting supplies and other items for donation. But, MyRegistry is not just a registry website, it’s the largest universal gift registry software provider to U.S. and Canadian retailers, powering the registries of 350 online businesses and servicing over 600 retail locations with in-store universal gift registry solutions. More info about our software solution is available here.
Q: You often run sweepstakes that include prizes from your retail partners. Can you tell us more about this?
A: We love our users and believe it’s only right to give back to them. What better way to do it than with the opportunity to win some pretty amazing gifts that they can keep for themselves or pass on to deserving family or friends? We are lucky enough to have terrific brand partners who are willing to help us in this endeavor, and who see great value in marketing opportunities like these.
Q: How exactly does your platform work?
A: We have online and in-store solutions depending on a retailer’s needs.
Online: When we power a retailer’s gift registry, we embed a unique and branded gift registry home page onto their website and place an Add to Registry button on all of their product detail pages. Once the customer completes a quick signup form, he or she can instantly start adding gifts by clicking the “Add to Registry” button on any product detail page without ever leaving the partner’s website. Guests can search for an existing gift registry via the gift registry home page. All gift registry purchases go through the retailer’s regular shopping cart flow. The gift registry is automatically updated once the purchase is complete.
In-store: Our web-based gift registry system can be accessed via any store hardware, such as a computer, tablet, or other device. Once a registry is created, the customer will get an on-screen confirmation. Simultaneously, they will receive an email with a link to download a mobile app that turns their smartphone into a barcode scanner so they can add any item from the retail store. For guests, finding a registry is as easy as entering the registrant’s name in the search bar on the gift registry home page. Registries can be printed or sent to a purchaser’s phone by scanning a QR code. Once a purchase is made, the registry is automatically updated.
The MyRegistry system also provides a comprehensive Partner Dashboard to manage account information and leverage gift registry reporting.
Q: High return rates are the biggest retail challenge after the holidays. How do gift registry purchases compare?
A: Gift registry purchases of any kind (not just for holiday wish lists) mean more full-price sales and lower return rates. Unlike most regular shoppers, gift buyers usually don’t worry about getting discounts. As long as an item meets their set budget, they’ll buy it at full price. Additionally, because a registrant has asked for the gift, it is very unlikely they will return it once it’s purchased for them. Overall, gift registry return rates average less than 5%, while return rates for other gift purchases average 10-20%.
Q: Why do retailers choose you to power their gift registries?
A: Our gift registry systems provide our partners with the independence of a fully branded and domestic gift registry experience for their customers, while also providing them a universal option with that same gift list if they want one.
Q: What are your plans for the future?
A: We are excited to be launching gift registry systems for more large retail partners in 2019. Many are household names, giving our users the flexibility to add sought-after products directly from their websites. With each new major partner, we add new features to our overall system capabilities. This is great for existing partners as well because it gives them critical updates without additional investment.Activate Social Media: