With the Holiday season rapidly approaching, many businesses are begining to offer gift cards as an option for their clientele. Although it may seem like a large undertaking, we can help you start your gift card program in less than 10 days!
1. If the average gift card sold at your store is $35, your first 100 cards sold will more than pay for your next set of 1000. After your next 1000 gift cards are sold, you will have generated an additional $35,000 in revenue!
2. Out of 139 million people surveyed, 64% of people said that they had either purchased or received a gift card as a gift within the year.
3. Using gift cards as a store policy for returned merchandise instead of returning cash ensures that money spent in your store remains there.
4. Gift card recipients are more likely to return to stores that they have received gift cards from and will reload the gift card for larger amounts than they were originally valued at.
5. Once a customer redeems their gift card, if there is any value remaining it will stay with the store and you will keep the additional revenue.
6. Real time tracking of your gift card purchases through your Point of Sale (POS) system will save money that would have been spent on paying employees to manually track the transactions.
7. 70% of gift card recipients spend between 1.5 - 1.9x of the value of the gift card that they received.
8. Businesses that convert from gift certificates to gift cards usally notice a 30% to 40% increase in sales.
9. 15% of the gift cards sold are never redeemed.
10. High end boutiques have noticed that their gift card sales increased with the option to purchase additional presentation options for their gift cards.