Spring is the perfect time for businesses to start thinking about selling gift cards. While gift cards are popular year-round, there are several reasons why they are particularly beneficial during the spring months. Why is the selling of gift cards during the spring a smart business idea?
Mother’s Day and Father’s Day.
One of the most significant reasons to sell gift cards during the spring is Mother’s Day and Father’s Day. These two holidays are significant gift-giving occasions, and gift cards are a popular choice. According to the National Retail Federation, upwards of $2.5 billion is spent on gift cards for Mother’s Day. By offering gift cards during the spring, you can tap into this market and boost your sales.
Graduation season.
Spring is also a time of year when many students are graduating from high school or college. Friends and family members often want to give these graduates gifts to celebrate their achievements. Gift cards are an excellent choice. By selling gift cards during graduation season, you can take advantage of this market and attract customers who are looking for gift ideas.
Spring cleaning and home improvement.
Spring is a time of year when many people start thinking about cleaning and home improvement projects. They may be looking to purchase new cleaning supplies, gardening tools or home decor. By offering gift cards during the spring, you can attract customers who are in the market for these types of products. Gift cards also make great gifts for people who are embarking on home improvement projects or who are moving into a new home.
Boost cash flow.
Selling gift cards can also help boost your company’s cash flow. When customers purchase gift cards, they are essentially pre-paying for products or services that they will use in the future. This can help provide a steady stream of income for your business, particularly during slower months.
Encourage customer loyalty.
Gift cards can also be an effective tool for encouraging customer loyalty. When customers receive gift cards, they are more likely to return to your business to redeem them. As well, they may spend more money than the value of the gift cards, leading to increased sales.
“Gift cards can be ‘reloaded,’ which keeps the customer returning to the business,” explains Joe Erickson on RestaurantOwner.com, “Moreover, if the customer has an unused balance on the card, he will usually return to use it. Finally, as with all electronic purchases, gift cards increase the ease, accuracy, and detail of management sales reporting.”
Expand your customer base.
Selling gift cards can be an excellent way to expand your customer base. When customers purchase gift cards, they are essentially giving your business free advertising. They may give the gift cards to friends and family members who have never shopped at your store before. Therefore, they are introduced to your business and potentially turned into new customers.
Are you taking advantage of selling gift cards of the electronic variety?
Electronic gift cards encourage repeat business, attract new customers and boost sales all year long. To begin taking advantage of them, please don’t hesitate to call Canadian POS at 1-877-748-2884 or email us at info@cdnpos.com.
