5 Ways gift cards can bring more customers to your businessJanuary 2018
We have learnt over the years that there are ways to entice customers to visit your store, and gift cards happen to be right at the top of the list! Consider the fact that gift cards not only attract new customers and boost sales, it encourages repeat business and customers to visit you more often.
Here are 6 ways gift cards can boost your sales this holiday season:
- Increase Sales & Profit: The great thing about gift cards is that you are essentially receiving money for stock that has not been purchased yet. Research has also shown that when customers redeem their gift cards, they tend to spend on average 25% more than the value of the card. Therefore, you are not only securing revenue for the future but making a little bit of “early” money.
- Encourage Repeat Business: Not all customers redeem the full value of their gift card, encouraging customers to come back to your store and redeem the remaining balance of the gift card. You also have the option of providing customers credits with gift cards when they return merchandise. Doing so ensures that the money being returned to the customer will inevitably be spent in your store.
- Bring in New Customers: Loyal customers usually give gift cards to friends and families to “sample” your business. These cards are ideal for promotions such as email campaigns, charitable donations and other marketing programs.
- Free advertising: Gift cards are one of the top gifts during the holiday season. Any time a customer buys a gift card from you, it’s a referral for your business. With a well-designed gift card, you have free advertising that people carry in their pockets.
- Easy to process: Accepting gift cards is essentially the same process as accepting credit or debit cards. Gift cards are so much easier to process than paper-based gift certificates, because there is virtually no work necessary on your part in order to put through a gift card transaction.