If you want to boost your revenue, increase brand awareness, and grow your business; gift cards are one of the best ways to get started. Gift cards are an extremely cost-effective to produce and the potential revenue you can earn makes them vital to a growing business. Let’s look further into the benefits of offering gift cards for your business.
Gift cards encourage customers to enter your store and browse through your products. Even though gift cards are set to a specific amount, customers generally spend over their limit. Statistics show that two out of three consumers will spend 38% more than the gift cards value since they consider the amount on the gift card “free money”. Paying only a fraction of the original gift card price is still better than paying in full, and your customer will leave satisfied, creating a positive buyer experience.
Increase Brand Awareness
A gift card is a great marketing tool for your customers. Once a gift card is used and your customer has a positive experience with your company, they will want to share their experience with their close relations. Those customers will then purchase more gift cards for their friends and family members for birthdays and holidays, and your brand will grow. A positive buyer experience and word of mouth are powerful ways to advertise your business.
"While a sale is a one-time event, a gift card is the gift that keeps on giving, not only for the recipient but also for your business."- Julia Boyce, Boyce Design Founder
Your store traffic will increase since gift cards are usually given to a different recipient than the buyer. This gives you two customers, the customer who bought the gift card and the person who received it. If the buyer had not given the gift card to the recipient they might have never known about your store. Once they redeem their gift cards they may very likely be a return customer, increasing your sales as well.
Gift cards designed for Spasation for all Edmonton Costco locations by Boyce Design.
Retailers across Canada know gift cards are big sellers all year round.
Here are the statistics to prove it!
- 80% of shoppers choose to buy gift cards for special occasions & significant events.
- 70% of Canadian gift buyers prefer giving gift cards over cash.
- 62 % of Canadians anticipate purchasing gift cards during the holiday season.
- $31.75 is the average amount spent over the value of a gift card.
Gift cards are a great marketing tool for your business if properly designed. Designing a gift card that perfectly reflects your business can be intimidating. Consider a gift card an advertisement for your business that travels in your customer’s pocket, so the clearer and more appealing your brand and logo can be on your card, the better.
At Boyce Design, we understand the design process and can help you with designing and producing your gift cards. We have designed gift cards for various retailers.