We’ve all been there – standing in a store looking for a gift, without a clue what to buy and time running out. Whether it’s a child’s birthday, a cousin’s baby shower, or an anniversary with a loved one, gift occasions can be stressful.
Offering gift cards is an easy way to ease your customers’ worries and offer a one-size-fits-all solution. And their popularity – among both givers and receivers – continues to grow. Research shows that 87 per cent of people both purchased and received gift cards in 2015, up from 68 percent in 2010.
Buyers love them, receivers love them, and merchants have lots of reasons to love them too. Here are the four major benefits that a gift card program brings to merchants:
1. Brand visibility
Merchants spends millions each year just to get their brand/logo/name in front of customers, but what if customers paid you to promote your company? Gift cards make it possible. By customizing cards with your company logo and messaging, it essentially becomes a tiny advertisement that cardholders see every time they open their wallet, keeping your business top of mind.
2. New customers
Customers who purchase gift cards are recommending your business to others and possibly introducing a new customer at the same time. Card recipients on the other hand, will come to your business with the sole purpose of making a purchase. Make their experience a positive one, and expect them to return.
3. Improved sales
Regardless of the card balance, over 40 per cent of gift card recipients spend more than the face value. In fact, they overspend by an average of 33 per cent. And if they become loyal customers, you can expect even more profits down the road.
4. Flexible promotion capabilities
With fast turnaround times, endless customization options, and low quantity limitations (200 cards), you can also use gift cards as an integral part of seasonal sales events and holidays. Easily combine a customized holiday gift card with a discount or other promotion, to boost sales.
Ninety-one per cent of Canadians received a gift card in 2015, with 76 per cent saying they would prefer to receive a gift card than rather than a specific gift.
Offering flexible, customizable card design at no extra cost, low order minimums and fast turnaround times, the Moneris Gift Card Program is just what your business needs.
Learn more today by visiting moneris.com/giftcards.