Who doesn’t love a gift card? U.S. consumers do, that’s for sure. Over 93% of U.S. consumers purchase or receive a gift card every year, spending more than $ 100 billion! No matter what you sell, gift cards should play a big role in your business efforts. Here are a few reasons why.
Gift cards are easy to buy and sell and as just mentioned, purchased to the tune of $100+ billion in the U.S. Great news is on average 70% of consumers spend more than the amount on the gift card. Nearly 40% more. Consumers also look at gift cards as “free money” and are more likely to pay full retail and purchase items they might not have otherwise.
Find new customers
Not only are gift card purchasers customers, recipients (some that haven’t purchased from you before or perhaps even heard of you) will become customers, as well. And quickly, as 90% of gift cards are used within the first 60 days! These new customers will visit your store and/or website and learn everything great about what you have to offer. In fact, 55% of card users will visit more than once to deplete their card.
Build brand visibility
Customized gift cards are like a small billboard in your customer’s wallet, providing a reminder of your brand. They enhance your image, making your company look like the well-known brands everyone knows. And they offer a great tool that can be prominently displayed and easily sold everywhere you market.
Build brand loyalty
72% of consumers who try a business for the first time because they received a gift card return to that business. Gift cards also open the door to invite these new customers to join your customer loyalty program (if you don’t have one you should and we can help!). And cards are great for returns, guaranteeing your customer visits again.
Enhance cash flow
Until gift cards are redeemed, you have use of the proceeds for other operating expenses, great for maximizing cash flow. And in many states, you may also be able to keep the balance on cards that are not redeemed.
Offering gift cards is easy and a great way to increase revenues. We can provide you a full-featured, easy to administer program, including your own branded cards and the latest digital card options, quickly and economically. Please contact us to learn more and get started enjoying all the benefits of a gift card program.