With Mother’s Day, Father’s Day, and graduation season just around the corner, did you know that this is the second busiest time of year for gift card sales?
There are so many reasons to offer gift cards. You get two sales in one. The customer that purchases the gift card provides you with immediate revenue, and the person who receives the gift card gets an introduction to your business and often spends more than their gift card is worth. In addition, while this new customer is on your site, you can encourage continued engagement through email and social media to keep them coming back again and again.
Gift cards are a multi-billion dollar industry, and it’s only growing. Whether you sell your gift cards in your store or restaurant or offer them on your website, gift cards generate significant revenue for your business. Here are some of the reasons why you should start selling gift cards today.
- Add digital gift cards to your product lineup – With Americans spending more time shopping online, there’s never been a better time to incorporate digital gift cards into your product offerings. Digital gift cards, such as those offered through Card Market Pro, are easy and cost-effective to personalize with designs, messages, photos, and rewards. For consumers, digital gift cards are easier to buy and give, they are also secure and trackable. Here are some important statistics about digital gift cards.
- 60% of all purchased gift cards are digital.
- Digital gift card adoption will see a 23% increase by 2025.
- Digital gift cards bring guests back more often, help them purchase more, and increase long-term customer loyalty.
- Speaking of Customer Loyalty – Did you know that acquiring a new customer can cost five times more than retaining an existing one? Having gift cards on hand and online allows loyal customers to support your business while bringing in new customers to your shop or restaurant. Your business can further encourage customer loyalty by offering discounts and special offers to gift card holders.
- Gift Cards Increase Brand Awareness – Gift cards are a valuable way to keep your business top-of-mind for consumers. There are many scenarios in which consumers are wondering where to eat or shop on any given weekend. Having your branded gift card in their wallet can suggestively sell your business over another.
- Customers Spend More Than the Gift Card Amount – Think about the last time that you used a gift card. Did you spend only the amount on your card and not a dollar more? The answer is likely no. The item you wanted may have cost more, or you saw other products you liked as you browsed the menu, the store, or the website.
- Gift Cards Attract New Customers – One of the most significant benefits of gift card giving is your customers’ ability to promote your business with friends and family. We all have that one place we know our parents, siblings, or friends would enjoy, and we can share that special place with a gift card. That gift card recipient might just become your next loyal patron.
Do you want to add gift cards to your company’s product offerings? Here at Card Market, we can help. Headquartered in Nolensville, Tennessee, Card Market is a gift card printing and fulfillment provider, serving restaurants, retailers, and other businesses in partnership with POS companies and resellers. We offer a variety of products and services that facilitate a customer’s every gift card need—from design to delivery and everything in between. Our Card Market Pro platform offers easy ordering and fulfillment of both physical and virtual gift cards.
If you don’t have the cash to get started, check out our partner Quikstone Capital Solutions. Since 2005, Quikstone has provided easy, fast, and flexible working capital to thousands of small businesses just like yours. Quikstone has an A+ rating from the Better Business Bureau, and 80% of their merchants are repeat customers. Use their ROI calculator to determine how a cash advance from Quikstone can benefit your business. Contact Quikstone today to get started. There is no cost or obligation.