The Case for Gift Cards
If you have a thriving business you may never have considered the need to add gift cards to your range. However, no matter how successful you are, if you don’t offer gift cards you could be missing out on your slice in the market.
It’s never been easier to set up your own gift card scheme and you can even have your own custom designs for a very low cost. If you need a bit of convincing about why every business should have their own gift cards, here are a few reasons to mull over.
Everyone loves a gift card
Gift cards are a popular gift for shoppers of all ages, being a popular pick for birthdays and seasonal gifts in particular. In fact, gift cards are such a hit that since 2007 they’ve ranked as the #1 item for all shoppers.
On average, more than four out of five of people asked said they planned to buy a minimum of one gift card. And with the average amount spent on gift cards averaging out at over $150 per shopper every year, it’s a healthy slice of potential profit just waiting to be claimed.
If you don’t offer gift cards you will be missing out on these potential sales completely – and it’s a big market to just ignore!
Increase visitors to your store
The biggest challenge in securing sales is quite often attracting traffic to your store; once over the threshold customers will be far more receptive to the idea of making a purchase.
Around four in ten recipients will make a trip to visit a new store, purely because they were given a gift card. This is a valuable marketing and has the potential to extend your reach further than you might otherwise be able to achieve.
The news gets even better too: gift card recipients tend to spend more than the value of their card and almost three quarters go back to the store again for repeat visits.
Worthwhile investment
If you’re pondering whether gift cards are worth the investment that you’d need to make, the statistics make an extremely interesting read.
One retailer found that for every dollar they spent on advertising for gift cards, they earned $13 back in orders for gift cards. Another source suggests that for online merchants, a gift card program could lead to a 10% increase in sales.
All the figures consistently point to the same conclusion: invest a small amount in a gift card campaign and you will really reap the reward.
The merchandise that every business should offer
Gift cards really are the merchandise that every business should offer for all of the reasons listed above. Taking advantage of a keen market and great returns on any investment plus the opportunity to easily tap into a larger audience makes gift cards an essential for any company striving for success.
