10 Facts About Gift Cards/Certificates
(from giftcardexchangeday.com)

  1. Gift certificates are the most requested thing on a wish list
  2. Purchases made with them are between 20% – 50% higher than the average purchase
  3. They are the most profitable item for many retailers
  4. They are mostly purchased during Christmas, followed by birthdays and Mother’s Day
  5. They are purchased 40.3% of the time for department stores followed by 34.2% of the time for restaurants
  6. They are most commonly purchased in a $25 amount
  7. They are only used to the full amount 60% of the time, leaving an average balance of $2.30 remaining
  8. They are given 43.1% of the time because, according to shoppers, it allows the recipient to choose their own gift
  9. $41 billion worth of them went unused between 2005-2011
  10. An American Household has an average of $300 worth of unredeemed gift certificates.

What does this mean for your business? A great way to acquire new customers and retain existing ones is to set up a gift certificate program. Too many times, the benefits of having gift certificates available to your customers are overlooked by merchants. Here are just a few reasons why gift certificates can be one of your most powerful and effective marketing tools:

Attract New Customers
For some, a gift certificate could be a great opportunity to give potential customers who would otherwise buy from somewhere else, give your store a gander.

Increase Brand Awareness
When designing your custom gift certificate, make sure to personalize it with your brand colors and logo. Especially when your customers start purchasing them to hand out to their family and friends! This disbursement quickly turns your gift certificates into an in-pocket marketing tool.

Reduce Fraud
Have a customer trying to make a return on an item that’s passed its return date or doesn’t have a receipt? You can satisfy the customer by offering store credit in the form of a gift certificate instead of giving cash back.

Encourage Sales
In line with reducing fraud, giving out gift certificates for expired returns instead of cash back gives your customer a reason to come back.

Improve Sales
Did you know that even if a gift certificate is for a certain amount, people will often spend more than what is written? Think about it. Imagine you’re at your locally overpriced coffee shop where you’ve also yearned to purchase that super extra large latte with 47 different flavors. What had previously been out of your price range is now the same price as the small black coffee you usually buy because of your newly gifted gift certificate. Paying a fraction of the price is still better than paying the full value. Also, a gift certificate will encourage a customer to browse around your store, where they can find a number of different items that they like and want to purchase.

Does your small business use gift certificates? What other ways have you found that they come in handy? We’d love to hear from you!
Leave a comment below, or connect with us on Facebook, Twitter or Google+.

Cindy Berrier

Cindy is the Customer Care and Operations Manager at 123Print. A native New Englander, Cindy now resides in Pennsylvania. She enjoys helping our customers and ensuring that the website runs smoothly. When she has downtime, she likes to spend time with her grandchildren and ride horses. Any questions, please contact her at cberrier@123print.com. [Check out Cindy on Google+]

Share
Published by
Cindy Berrier

Recent Posts

11 Easy and Helpful Techniques to Annihilate Holiday Stress in 2024

Learn effective stress management techniques to keep you sane during the holiday season, so you…

1 week ago

Harvest the Power of Print: 10 Clever Fall Marketing Ideas for Your Business

Looking for effective fall marketing ideas to help your business stand out? From eye-catching direct…

2 months ago

Fascinating Tips From Experts On How to Build Your Brand Universe in 2024

Learn from experts like Disney, Marvel, and more how to create an entire universe around…

5 months ago

Professional Nature Photographers Share Tips on How to Stay Relevant in 2024

We’ve gathered insights from professional photographers who reveal their secrets to getting inspired and staying…

6 months ago

7 Crucial Strategies to Add to Your Marketing Playbook for a Successful Season

In the ever-evolving marketing landscape, staying ahead requires a strategic approach throughout each season. Having…

8 months ago

5 Strategic Customer Service Moves to Make Everyone Feel Like a Winner

Have you ever had WINNING customer service? Customer service that doesn’t just meet your expectations…

9 months ago