3 Reasons To Get In On The Action Of Gift Card Selling

In our last blog, we revisited the topic of gift cards and listed some benefits of selling them in your store during the upcoming holiday shopping rush. We’d actually consider it a “no-brainer” to sell gift cards during the holidays. Since they are mainly purchased as gifts and the holiday season is all about gift-giving, business owners from all over Canada should be sure to get in on the action!

Here are three reasons to get in on the action of gift card selling this holiday season:

1. They pay you for nothing. Gift cards certainly aren’t “nothing”. That is, of course, if they are redeemed. However, while gift cards offer recipients the opportunity to buy something for “free”, they are not always used. Once you sell a gift card, you are paid. Essentially, that means that you will have earned money for products that haven’t been sold yet. And the money is yours whether any actual products are sold or not.

“Roughly 10% of all gift cards that are issued go unused or unredeemed,” reports Brian Manning on BancardSales.com, “That means that for every $1,000 dollars spent, you’ll retain $100 from those who either lost their card or forgot that they had it and never bothered to bring it in and redeem it. Think about it, how many gift cards have YOU lost in your lifetime? I know I’ve lost a handful and the business that owned that gift card came out ahead.”

2. They offer new and exciting marketing opportunities. Once you begin selling gift cards in your store, you allow yourself the ability to market your brand in new ways. The first, and most obvious, is that you can advertise that you sell gift cards. This will help to encourage more foot traffic into your store. However, gift card sales also afford you the opportunity to create new strategies for promoting your brand.

Manning explains that gift cards can be used in a variety of ways to market your business. Gift card programs are cited as examples. “Implementing a gift card program at your business is like finding the key that unlocks the next level of your favourite video game,” he writes, “A whole new world emerges. You can offer gift cards as giveaways, prizes, or thank you gifts to your friends, family and customers.”

3. They encourage repeat business. Is there anyone better than the customer that continues to shop at your store over and over again? All business owners love repeat business. And, as a result, they should cater to the needs of their loyal customers. Gift cards can be used as excellent “thank yous” to those who keep shopping with you. However, they can also be used as ways to encourage others to become loyal customers.

Manning explains that reloadable gift cards have the power to keep bringing customers back. “Wouldn’t it be nice if all marketing efforts were reusable?” he asks, “Well some are, and gift cards are one of them. Most gift card programs come with cards that can be reloaded after they are used. This means that you can buy the gift card package once—to resell to your customers—and use them as many times as you can.”

At Canadian POS Corporation, we offer Canadian business owners the perfect gift card solution. With our gift cards, our clients have encouraged repeat business, attracted new customers and boosted their sales each and every year. And, as you’re surely aware, their sales significantly increase during the holiday shopping season. For more information about how you can get in on the action of selling gift cards in your store, call us at 1-877-748-2884 or email us at info@localhost.