In our last blog, we revisited a topic that is quite popular on the Canadian POS Corporation Blog. Gift cards continue to be all the rage. And, as we pointed out, there are many statistics that prove that selling gift cards all-year round is simply a must-do for business owners. On GiftCards.com, Shelley Hunter reveals that gift cards are actually excellent presents for kids. What was once thought as an impersonal gesture is now on many wish lists of children.
On September 24, 2015, Hunter presented the results of the 2015 “Kids and Gift Cards” Survey at The GCN regional summit in Orlando, Florida. While she points out that many children are not able to make purchases themselves, they are often still given gift cards by their parents as ways to celebrate special occasions and accomplishments.
Why do parents give gift cards to their kids? Hunter points out that the number one reason that parents give gift cards to their children is birthdays. And while that may not sound surprising at first, it may be interesting to note that religious holidays in December place as the second most popular reason to give children gift cards. For those who may assume that gift card sales are only significant during the holidays, this information is very useful.
What is also useful to merchants is the understanding that parents use a variety of reasons to give children gift cards other than just the standard gift-giving days of the year. Hunter admits that she was surprised to discover that “nearly 25% of consumers also give gift cards for school-related accomplishments…this category refers to elementary school promotions, middle school graduation, getting good grades, doing well on a test and so forth.”
Are there non-school related accomplishments that parents buy gift cards for? Of course! While high school graduations are also popular gift card-giving occasions, 16% of parents “also give children gift cards for non-school related accomplishments such as making a sports team, advancing in scouts or performing in the arts,” says Hunter, “Some parents also give gift cards to their own children in lieu of cash.”
Consider all of the things that children enjoy. Toys, games and clothing are all high up on the lists of things that kids want. Hunter notes that gift cards are often used to purchase these items. She reveals that, as a result, department stores such as Target and Walmart are highly regarded as places where many gift cards are purchased for kids. These are known as “mass merchant” gift cards. As expected, toy and game store gift cards are the next most popular.
Entertainment gift cards, online retailers and apparel stores follow in that order of popularity. Does it sound like your store could be benefitting from selling the types of gift cards that children would enjoy? To order gift cards to sell in your store, call Canadian POS Corporation at 1-877-748-2884 or email us at info@localhost.