Gift Cards: Tapping Into the Holiday’s Most Popular Market
With the holidays fast approaching, businesses spend a ton of time and resources looking for ways to tap into a market that, according to Deloitte Insights, is expected to grow roughly “4 to 4.5%” on top of the growth seen during 2016 holiday season which saw consumers spend in excess of $1.0 trillion dollars.
These figures are staggering, and for a number of businesses, even a microscopic share of this spending can play a big role in a company’s bottom line.
Here’s what we know — businesses that are not offering consumers the opportunity to purchase gift cards are losing money. On average, consumers spend $165 on gift cards during the holiday season. And of those who receive gift cards, nearly 61% spend more than the actual amount on the gift card. That’s more money in your pocket simply because you were able to get a customer to walk through a door they may have skipped over before.
Don’t just take our word for it. Take it from the National Retail Federation and a 2017 holiday consumer study that reported gift cards and certificates as the gift most consumers wanted this holiday season. And it’s easy to understand why. Gift cards are not only stress free purchases, but they also give the power of choice directly to the recipient.
At Premier Business Advantage, we understand the impact that an effective gift card program can have on your bottom line. From increased revenue to a stream of steady customers, let us help you create a program that fits your business and your budget. Contact us today and, depending on the size and scope of your program, you can start selling or distributing your cards in as little as three business days.