Halloween is still fresh in our minds, but the malls and stores are already decorating for the holidays, and soon consumers will be making their lists and setting out to shop! For some people, though, it’s hard to come up with a different gift idea every year for the people on their list, and many turn to gift cards. Are you offering them the chance to do business with you with a gift card purchase?
Gift cards have become the number one gift for the holidays, outselling gift certificates by a 10 to 1 margin. Gift cards also offer many benefits to the merchants that offer them:
- The initial sale of a gift card is an immediate source of revenue for a merchant.
- The card acts as an advertisement for the merchant.
Gift cards encourage repeat visits by customers who don’t use the entire value of the card on the first visit. - Some cards can be recharged after the initial value is depleted, bringing customers back into the business to make additional purchases.
- There is a high potential for increased sales above the value of the gift card amount from customers who purchase items higher than the value of the card.
- Merchants offering gift cards typically realize an increase in overall sales and cash flow, sometimes as much as 30 percent or more.
- Gift cards are easy to issue, and transactions using gift cards are fast and efficient because no change is issued when a gift card is redeemed.
- Statistically speaking, merchants can realize an average of 15 to 20 percent pure profit on cards that are issued but never redeemed.
To realize the advantages of gift cards and grab your portion of the market, please contact us SOON for more information – so that we can get you set up in time for the holidays!