The gift card is now becoming one of the most profitable solutions for business owners. The actual increase in bottom line results is virtually immediate. Statistics show that over 80% of all consumers purchase at least one gift card during the holiday season. Over 50% purchase 3 or more. Gift cards are terrific tools for any business because they provide benefits ranging from increased profit to free marketing.
These benefits include:
Increased revenue from lack of redemption for small denominations left on the card.
Increased purchase amounts due to no “out of pocket” expense by consumer.
Increased bottom line created from breakage of cards (included lost, stolen, or damaged cards).
Free marketing by constant giving, receiving, and usury by consumers of a business branded card.
Businesses can be set up with in-store displays to advertise Gift Cards much like they would any other small impulse-buy product. Gift cards also enhance customer relationships, it increases purchase frequency, and builds greater brand awareness.
Loyalty cards will ultimately increase customer activity if the proper program is attached to the card’s usage. Awards programs inevitably increase the overall usage of a card similar to that of a “Miles” credit card program. If a consumer can visualize a prize; there is more incentive to purchase further products to obtain said prize. Award values and prizes can be structured according to a business’ specific request.
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Loyalty cards will ultimately increase customer activity if the proper program is attached to the card's usage. Read more >>