Did you know that 80% of consumers will purchase gift cards this holiday season? Your business needs a piece of that pie. Here are the reasons gift cards are a smart choice and the secrets on creating a successful gift card program!
Why Gift Cards?
- They are the #1 retail item that is purchased during the holidays.
- It is easy for the gift giver because it is no-brainer purchase and they know their recipient will get the exact gift they want.
- Cards increase your revenue with two-thirds of gift card redeemers spending over the amount of the gift card value.
- Experience stronger margins with 31% of gift card recipients more likely to buy at full prices when using their gift card.
- Over 1 billion in gift cards go un-redeemed. That is pure profit for your business.
hangs around a bit longer with many of those gift cards being redeemed in
well into January. With them spending more than the card is worth and
buying at full retail, you are increasing your revenue and margin.
Tips for Successful Gift Card Programs
- Monitor gift card inventory. You don’t want to run out of cards during those last minute sales opportunities.
- Become the gifting resource by supplying the coordinating gift card packaging with holders, boxes, or elegant purse bags. Click here for a wide selection of gift card packaging options.
- Create an in-store merchandising area by your check out and retail display areas. Have signage showcasing your cards as the perfect gift solution.
- Sell your gift cards on your website and promote via your various social media channels.
- Offer gift with purchase. If a client purchases a specific dollar amount, throw in a free gift of trial samples or a spa robe. Offer tiered gifting levels providing larger gifts at higher price point gift card sales.
- Get your staff involved in promoting gift cards with their clients. Make sure all staff is train on how to sell and load value to cards.
Don't let these seasonal sales pass you by. Be prepared with a rock solid gift card program and ring up a very happy holiday!
*Stats provided from National Retail Federation Gift Spending Survey Dec 2013.