Top 4 benefits of a gift card program [] I’m going to go out on a limb here and say that if you’ve landed here, it’s because you’re interested in kick-starting a gift card program. Maybe you’re just missing that last little nudge, or you're curious if you’ll see a real return on your investment. Hesitate no longer. Whether you’re a shopping center manager or a retail merchant, there are many benefits to a well-run gift card program, and this article is here to convince you of how Giftify can help you with that!
Top 4 benefits of a gift card program
[] I’m going to go out on a limb here and say that if you’ve landed here, it’s because you’re interested in kick-starting a gift card program. Maybe you’re just missing that last little nudge, or you're curious if you’ll see a real return on your investment. Hesitate no longer. Whether you’re a shopping center manager or a retail merchant, there are many benefits to a well-run gift card program, and this article is here to convince you of how Giftify can help you with that!
1. Boost your brand's influence
It won’t be news to you that repetition is key for a successful marketing campaign. Multiple marketing touchpoints allow for more brand awareness on the part of your potential customers, and therefore more opportunity to convert their interest into a sale. Gifitfy gives you the opportunity to design a gift card program that really suits your needs, and those of your customers. Because we offer multiple marketing options, the possibilities of reproducing your brand's visuals are multiplied tenfold: think gift cards, kiosks and customizable packaging, but also pop-up posters, advertisements on empty windows or even rigid structures to host your kiosks. By reproducing a clear visual vocabulary onseveral touchpoints, your clients will start to associate a set of design elements to the center’s gift card program, and help get them from the awareness phase to the purchase. But that’s not all!
A gift card program can also help expand your customer base, as your cards will be given to people who may have not normally shopped at your center or store. They represent a great opportunity not only to boost brandawareness, but also to reach more customers and boost your sales volume.
2. Boost your sales
Customers spend more than the face value of their card when they make purchases with one. In fact, on average consumers spend 40% more than what they're given on their gift cards as they shop around at various retailers during each visit—and they're more likely to become loyal to your center, coming back again and again. In light of that, the clear financial benefits of a gift card program are hard to argue with. The Giftify team is here to help you every step of the way to make sure your gift card program is a success. Do you need a compact option due to limited space? Browse our offers & find the most eye-catching vending kiosk, sleek while packed with all the services your customers need. You need a show-stopper in a high traffic area? Speak with our team to get the most grand design for your gift card program.
3. Stay in the loop
The gift card market is booming. In fact, in 2021 it grew by 5% worldwide, and it is expected to grow by 14% in 2024. Many brands offer successful gift card programs, including well-known giants such as Zara, Fnac, Amazon, Sephora and H&M. Join these brands and their success with your personalized gift card program from Giftify! Multi retailer cards are especially interesting for shopping centers and their customers since they allow for the charged money to be spent in different stores, therefore expanding the realm of possibilities to find the best possible gift - or gifts!
Staying in the loop also means keeping up with current trends. The past few years have been marked by a global pandemic that has obviously affected consumer behavior, most notably by limiting outings and travels. Gift cards have provided a great alternative to both cash payments and credit cards, and offer the opportunity to offer a gift now that people can transform in physical form later. Not only have gift cards been a real life-saver for the retail and service industries, they have also become a great way for people to treat themselves and their loved ones in a time when all anybody needed was a whole bunch of love. A new reality then, which may explain why in the US, the sales of open-loop gift cards grew by a staggering 31.5% during the COVID-19 pandemic. And this new behavior is not expected to die down, since projections show an annual growth rate of 8.8% over the next four years for the US gift card market.
4. Keep market shares
Businesses are the leading consumers of gift cards representing. For example, 70% of the French gift card market is B2B purchasing. During the Covid-19 pandemic, the French government cancelled tax on special vouchers and gift cards in an effort to boost the economy and the purchasing power of employees. A godsend for the brands that obviously benefit from this tax break!
Although the tax exemption is specific to France, there is certainly a global trend in the commercial sector of offering gift cards for employee recognition and awards, and the demand is expected to thrive in coming years. What does it mean for you? Well, consider this. If you don’t have a gift card, but companies are looking for one to offer their employees, necessarily another brand will benefit from a market that is becoming increasingly lucrative. Giftify helps you put everything in place to respond to this growing demand, so your customers don’t go knocking on another brand’s door for a gift card option.
So what are you waiting for to launch your Giftify gift card program?
Book a call with our team, or start your design right away.
We look forward to helping you get the best out of your Giftify gift card program!