In our last blog, we revisited the topic of gift cards and unveiled a special method as to how they can benefit your brand. They can be used as great ways to say “thank you”. As we detailed, a gift card offers a recipient the opportunity to purchase something for “free”. In the case of your appreciative gesture, the card will serve to encourage your customer to return to your store. When saying “thank you”, even a $5 gift card will suffice.
No matter what, it’s a considerate way to show your appreciation. It should be highlighted, however, that gift cards provide incredible revenue streams for businesses that sell them. They provide companies with so many benefits that it’s hard to figure out where to start when it comes to listing them! GiftCards.com notes that “83% of corporations use gift and prepaid cards for employee incentives”. So, we suppose that’s one way.
Obviously, gift cards can be used to thank both your clients and your employees alike. But what can they do to make you more money? GiftCards.com reveals more statistics that prove that when you begin to sell gift cards to your customers, you end up generating more money. And that’s the plan for all business owners, isn’t it? Take a look at how gift cards affect the purchasing habits of their recipients.
72% of customers will spend MORE than the value of their card. We mentioned that when you provide a gift card for free, it encourages a repeat visit. But also consider the fact that when gift cards are purchased from you, they generally indicate that you’ll be making more money from the actual sale that is bound to happen. That’s because “on average the recipient will spend 20% MORE than their gift card value”, says the site.
Customers buy gift cards from everywhere. According to GiftCards.com, there is no shortage of ways for people to get their hands on gift cards. And apparently, although there are many options, there seems to be no clear-cut favourite method. So where do people generally get their gift cards from? 31% of buyers get them from gift card malls or kiosks in grocery or convenience stores, says the site.
27% of gift card shoppers buy them from websites that sell multiple gift cards. 27% also buy them in person at the retailers or restaurants. And 16% of people who buy gift cards get them from the retailer or restaurant’s websites. But just how popular is the online sale of gift cards? As you can imagine, online shopping is huge – so why wouldn’t online gift card shopping be huge? GiftCards.com confirms this suspicion.
97% of the top retailers and restaurants sell their gift cards online. And 92% of those top retailers offer multiple card designs, the site reports. It goes on to note that online gift card sales are growing by 29% per year. Is your business part of this growing trend? Evidently, it’s important to not only sell gift cards, but to offer them on your website as well. In today’s tech-savvy world, it practically seems like a must!
As we mentioned in our last blog, gift cards work to encourage repeat visits from customers. They also help to bring in new ones. Clearly, this promotes a boost in sales. So what are you waiting for? Canadian POS Corporation can help you to take advantage of the gift card craze. Getting your hands on gift cards to sell in your store is a lot easier than you may think.
Simply give us a call us today at 1-877-748-2884!