As the temperatures start to rise and the colours of spring begin to emerge, it’s time for businesses to start looking at ways to bring the spirit of the season into their storefronts. One way to do this is by giving new life to your product lineup by offering an item like gift cards.
Stocking gift cards in the spring can encourage customers to act on their purchasing impulses and is a great way to set you up for success all year long!
Gift Cards are the Present Mom & Dad Can’t Refuse
Spring is full of gift giving occasions, from Easter to Mother’s Day and Father’s Day. According to the National Retail Federation, Mother’s Day is actually the fourth biggest shopping holiday of the year, with an average spend of nearly $180 per person. Easter trails right behind Mother’s Day as the fifth biggest shopping holiday of the year, with nearly $150 per person being spent. With these gift giving occasions comes the opportunity to encourage additional sales from your customers and gain new ones in the process.
Gift cards are an attractive addition to any checkout counter, and can encourage customers to act on their gift-giving impulses. Gift cards can be used at the leisure of the recipient to purchase something they really want – be it a new favourite blouse, cookbook or barbecue tool. Unlike other gift options, shoppers don’t have to worry about the size or colour of their gift. Instead, they’re able to pick up a gift that they know the recipient will be able to use and for a store that they enjoy.
April Showers Brings May Buyers
April showers might bring May flowers, but they also bring May buyers as well. Looking at the data from our Moneris Metrics Quarterly Spend Reports, we can see just how busy May has been in the past. In 2018, payment card spending in May grew 5.9 per cent year over year, and in May 2017 payment card spending also grew 4.4 per cent year over year. This goes to show that as the weather begins to warm up, Canadians warm up to the idea of opening up their wallets as well.
When these shoppers visit your store, you should have a product lineup that accurately reflects what they want to buy. In addition to making sure that your stock levels are high and you’re ready for a rush, offering a product like gift cards can appease the customers who know they want to gift items from your store, but aren’t sure of the specifics. These cards are also great to have as your store gets busier, allowing customers to learn that they’re a product you have all year round.
Gift Cards are the Gift That Keeps on Giving
Gift cards are a great tool to help encourage customers to come back again and again. When given a gift card a recipient is very likely to make sure they use it, but depending on the amount of dollars on the card, they may come back more than once. Actually, 53 per cent of shoppers spend more than the gift card amount received. This means that gift card sales could be worth more to your business than just the dollar amount loaded on the card, as there’s a 53 per cent chance the redeemer will spend more in-store than their gift card is worth. Gift cards can keep customers coming back to your business long after the card’s value is spent, setting you up for long term customers and long term success.
If you’re interested in learning more about the Moneris Gift Card Program and how you can design your own gift cards for the upcoming spring holidays, make sure to read more here!
The information in this article is provided solely for informational purposes and is not intended to be legal, business or other professional advice or an endorsement of any of the websites or services listed.