Americans love giving and receiving gift cards. They are always in demand, and present retailers with significant incremental sales opportunities, as consumers report spending more when both purchasing and redeeming gift cards. According to a biannual consumer survey of 1,100 US consumers by the Retail Gift Card Association (RGCA), convenience and choice make gift cards extremely popular among consumers. Although mobile and electronic gift cards are not yet widely used by consumers, the adoption of these technologies is expected to continue to rise.
Spring and summer are upon us, and bring with them an array of gift-giving opportunities for occasions like Father’s Day, graduations, weddings, and teacher appreciations. New research indicates that this season more than two thirds of US shoppers plan to buy gift cards; meaning that retailers would be wise to ramp up gift card marketing efforts for the spring and summer gifting months.
Nearly 60 percent of consumers say they would like to receive gift cards this holiday season.
New offerings by gift card companies and payments processors have been geared specifically to smaller retailers.
Holiday shoppers are expected to spend an average of $155.43 on gift cards, the highest amount since 2007.
For those independent retailers with a growing customer base, recognition and rewards are crucial; this is where a customer loyalty or gift card program can help out. Michael Rochester, an affiliate with Dynamic Merchants, a merchant processing company, expresses the necessity of gift and loyalty card services associated with customer loyalty programs, emphasizing, “Gift and […]
Gift cards continue to be a popular item for consumers. In 2009, Javelin Strategy & Research reported that 61 percent of U.S. consumers used gift or prepaid cards for purchases, and that number is only expected to grow. As more families connect via digital means such as email and social networks, the traditional plastic card, […]
You don’t have to have a digital gift card offering to provide a differentiating gift card experience.
Print Retail advisory firm, Grant Thornton LLP, has announced the release of its new white paper, Gift Cards: Opportunity and Issues for Retailers. The paper examines the gift card industry and looks at the tax and accounting implications of recent legislation on retailers. “Gift cards have become an area of both opportunity and risk for […]
Looking to keep the sales momentum going, shop owners are waiting for gift card recipients to cash them in and boost business.