Let\’s be honest. Not all customers enjoy buying gifts. Even when they are shopping for their family members and friends, the experiences can be long and difficult. This is because most people don\’t know what size or colour to buy. They\’re not sure what items their loved ones already have. It\’s really tough to find the perfect gift, isn\’t it? But then again, the perfect gift actually does exist.
Do you know what the number one gift requested by women is? Gift cards! As Arthur Kirk writes on Yahoo.com, “Finding that perfect gift for the woman in your life might be giving them the ability to choose it themselves.” Kirk, in fact, reveals a number of interesting statistics that reveal that gift card-giving is only bound to grow in popularity.
He makes mention of a survey that found that 81 per cent of its respondents indicated that they preferred receiving gift cards over any other birthday present. As well, the survey found that gift cards aren\’t just popular amongst teenagers and young adults. Gift cards are especially popular with adults aged 35-54. That isn\’t to say that this age group isn\’t “young” as well!
So what does this all mean to business owners? Gift cards carry enormous benefits. Statistically, three out of four consumers will spend up to 25 per cent more than the face value of their gift cards. That pretty much ensures that most of the gift cards you sell will end up generating more revenue than the price of the card itself. The selling of a gift card, it can be argued, ensures that your company will get a bit of a gift in return!
Gift cards can be used as excellent buying incentives. Some store owners choose to use gift cards as “thank yous” when their customers make purchases over a certain amount. This encourages spending in more ways than one. Of course, it motivates your customers to spend the advertised amount that garners the gift card. And the gift card, itself guarantees a return visit to your store.
Selling gift cards also gives you options. You can sell a fixed value card at a discounted price to help you drive up sales. This strategy will go a long way in generating more revenue. For example, sell a gift card valued at $50 for just $45. This saves the customer $5, but also ensures that someone will be spending money at your business. And remember, most of the time, customers end up spending more than the gift card\’s face value.
Gift cards can also keep money coming into your store. You may want to consider using them as the new method by which you refund merchandise. If you place the refund on a gift card, it will ensure that the customer\’s money will be spent in your store. You may also want to offer them the opportunity to reload the gift card to further encourage future spending.
Who doesn\’t love winning prizes? Gift cards make prize awarding so much simpler. Contests are great ways to generate interest in your place of business. Run a contest and offer gift cards as the prizes. Naturally, this will help to encourage more visits to your store, but it also make for a great way to introduce the public to your products. The winner of your gift card is sure to see you again soon.
To find out more about our Basic, Custom and Standard gift cards, call us up at 1-877-748-2884. Our amazing options allow smaller merchants to make low-cost investments so that they may test the waters with this new product. However, they also allow for optimum features and designs for your brand to build an entire new marketing campaign around. It\’s time to make the perfect gift your perfect new product!