With less than 30 days to Christmas, Santa is fast approaching! This means, it is the perfect time to prepare your business for additional sales with gift cards!
Studies show that gift card sales increase during this time of year, which is no surprise, so don’t procrastinate… now is the time to promote gift cards at point of sale. Ideal for customers who aren’t sure what to buy for some of their friends and family!
But, why does your business really need to sell gift cards? What are the benefits of selling gift cards? How can these help you to drive sales?
- 1. Acquire new customers
Gift cards can potentially help to acquire new customers.
Existing, loyal customers may purchase a gift card for family or friends, introducing them to their favourite place.
When gift cards are given to people who have never visited your business, it also reinforces your brand and introduces it to new shoppers with an opportunity for additional repeat purchasing.
- 2. Display gift cards and increase brand awareness
Display your gift cards and make them eye-catching and appealing. Also ensure your staff members asks customers if they would like to purchase one.
Gift cards can essentially work as a marketing tool in a customer’s pocket when designed to match your logo and brand.
As customers purchase gift cards to give to their friends and family for occasions your brand will continue to be distributed among new potential customers.
- 3. Upsell
Although gift cards are set to a limited amount, many customers will end up spending more. Customers using gift cards are less price-sensitive. Research shows that at least 70% of gift card recipients spend more than 35% or high than the face value of their gift card. Customers will either end up buying an item they have not initially planned on purchasing, or will opt for a more expensive version of the item.
Paying only a small percentage of the price is still better than paying in full, and customers will leave your place satisfied.