Thinkific Launches Gifting - Enabling Creators to Supercharge Sales for Cyber Week and Beyond

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Nov 28, 2023, 06:30 ET

Early traction with Gifting sees average transaction sizes almost 35% higher than normal, with the largest gift purchased exceeding an impressive $4,000

VANCOUVER, BC, Nov. 28, 2023 /PRNewswire/ - Thinkific Labs Inc. ("Thinkific") (TSX: THNC), a leading platform for creating, marketing, and selling online learning products, today announced the official launch of Gifting, a highly requested new feature which empowers Creators to supercharge their sales by enabling them to offer their learning products as unique and specialized gifts.

Adding to the growing list of features available to Creators within Thinkific's suite of payment tools - TCommerce - Gifting allows their buyers to seamlessly purchase any learning product as a gift for someone else. The feature eliminates the need for Creators to devise complex workarounds, providing a streamlined and user-friendly gifting experience for their customers.

Since being first rolled out to Thinkific Creators, the feature has already gained notable traction with average transaction sizes 34% higher than normal and the largest gift purchased exceeding an impressive $4,000.

"I receive emails daily from customers who want to gift online classes to loved ones," said Thinkific Creator, Stephanie Veillon, CEO at Being Well Inc. "This Gifting feature will no doubt generate far more sales and help lighten my workload."

Current Gifting features include a seamless checkout experience allowing gift buyers to simply specify that a learning product is a gift and have it sent directly to a recipient, add custom messages and receive email notifications confirming payments, and that gifts have been received. Future features will include the ability to schedule gifts to arrive on key dates, and many others designed to ensure a smooth, hassle-free gifting experience.

"We're committed to giving Customers the best and most impactful tools to boost their revenue and grow their online businesses," said Greg Smith, CEO of Thinkific. "Our new Gifting feature not only aligns with this focus but also demonstrates our continuous commitment to platform and feature innovation. I'm very proud that in a year in which we've achieved earlier than expected profitability, we've also delivered a series of dynamic new feature releases of which Gifting is the most recent significant addition."

To learn more about Gifting, please visit - https://thinkific.com/features/sell-courses/thinkific-payments/

About Thinkific

Thinkific (TSX:THNC) makes it simple for Creator Educators and established businesses of any size to scale and generate revenue by teaching what they know. Our Platform gives businesses everything they need to build, market, and sell digital learning products - from courses to communities - and to run their business seamlessly under their own brand, on their own site. Thinkific's 50,000+ active creators earn hundreds of millions of dollars in direct course, membership and community sales while teaching tens of millions of students. Thinkific is headquartered in Vancouver, Canada, with a distributed team.

For more information, please visit www.thinkific.com.

This news release includes forward-looking statements and forward–looking information within the meaning of applicable securities laws ("forward-looking statements"). Often, but not always, forward–looking information can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative and grammatical variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements in this news release include statements regarding the launch of the Company's gifting feature, the potential benefits that this might have to help Thinkific's customers find greater efficiency, increased conversion rates and higher priced products at checkout by their customers; expectations related to increased revenue for the Company and its customers as part of potential Cyber Weekend promotions and beyond; the future development, release of a time delayed gifting enhancement; and expectations related to increased adoption and retention of TCommerce and Thinkific's platform. Such statements and information are based on the current expectations of Thinkific's management, and are based on assumptions and subject to risks and uncertainties. Although Thinkific's management believes that the assumptions underlying these statements and information are reasonable, they may prove to be incorrect. Except as required by applicable securities laws, forward–looking statements and information speak only as of the date on which they are made and Thinkific undertakes no obligation to publicly update or revise any forward–looking statement or information, whether as a result of new information, future events or otherwise.

SOURCE Thinkific Labs Inc.