At Canadian POS Corporation, we don’t believe that there’s such thing as a bad time to sell gift cards. Obviously, there are times of the year when the act of selling gift cards is not only an excellent idea, but practically a mandatory requirement for success. The Christmas holidays provide the perfect example. Gift cards make the perfect gifts. They simply guarantee recipients that they’ll end up getting exactly what they want.
Of course, the holidays aren’t the only time that it would make sense for your business to sell gift cards to its customers. As mentioned, there really is no bad time to sell them. After all, people have things to celebrate all year long. Birthdays are the obvious and most popular examples of occasions when people receive presents. Not sure what to get someone? You can’t go wrong with gift cards!
This attitude is shared by shoppers all over Canada. Gift cards make buying presents a very convenient experience. And more importantly for you, it brings more customers into your shop. But what if you don’t sell gift cards at your business? It should probably go without saying that you’re missing out on a very important revenue stream. MoreBusiness.com explains why you should seriously consider selling gift cards at your store.
More Profit on Your Bottom Line. The website reveals that a 2004 First Data survey found that “82 percent of small to mid-sized businesses who use retail gift cards experienced increased sales.” It goes on to note that customers who use gift cards are a lot more likely to buy items at full price instead of on sale. As a result, you’re bound to increase your profits by selling gift cards.
Return Customers – Not Returned Merchandise. Perhaps our favourite reason to sell gift cards, they pretty much guarantee that new customers will be visiting your store. As well, those shoppers are not likely to return what they buy with your gift cards. MoreBusiness.com points out that such consumers are also a lot more likely to spend more than the value of their gift cards. They may even wish to reload them!
Don\’t Worry of Selling Out of Stock. Especially during your busy times of the year, you may run out of inventory. If your most popular items are flying off the shelves, your gift cards will come in especially handy to those shoppers who missed out on getting one of those items. That way, they’ll be able to use the gift card to give to a recipient who may use it locate the item him or herself.
Interest Income from Unredeemed Balances. “Another benefit your company can experience from retail gift cards is additional interest income,” reads MoreBusiness.com, “When a shopper buys a gift card, you have the cash in hand. Even though that money is unearned until it is redeemed, you can still deposit it in an interest bearing account and collect the interest.”
As we’ve been saying, you practically can’t go wrong with selling gift cards at your place of business. There is no question that it is a customer-pleaser. Getting set up with gift cards for your store is easier than you think. And as you may have guessed, Canadian POS Corporation has got you covered. Simply give us a call at 1-877-748-2884 to order your gift cards today!