Systems and methods for organizing and conducting group gift exchanges among two or more participants generally enable multiple participants to order an item and to receive an item in return. Items may be allocated on a random basis, or on some other basis, such as the cost or other characteristic of the respective items, or the known preferences or interests of the respective participants. The systems and methods may take the form of free-standing applications or may be incorporated into existing merchant web sites or social networks, and may include components or processes for receiving orders of items and for allocating items among each of the participants.