The Money’s in the Cards!
Gift cards have been the most popular gift for the past 5 years. That’s a pretty great reason to put a plan in place to accelerate your gift card sales this holiday season, no matter what type of business you own!
There are even more compelling facts:
Gift cards sales will account for over 18% of holiday sales!
Two-thirds of consumers have purchased at least one gift card
Retailers who switch from paper to plastic cards typically see a 50-100% increase in sales
The average amount loaded on a digital gift card is 10-15% more than a plastic gift card.
61% of gift card holders spend more than the amount of their gift card and 75% of those who overspend spend 60% more than the value of their card
Gift cards are most popular with teenagers
40% of gift card recipients do not use the total value of the card
As you can see, gift cards can significantly increase your bottom line in December and beyond so their promotion and sale are well worth your attention.
Here are a few tips for selling more cards
Plenty of in-store signage
Ongoing employee training – ask for the sale
(Would you like to purchase a gift card for a friend
or family member?)
Use all other assets to promote, including website, social
media, email and any other advertising you may be doing
Create incentives for purchase
For example, get a $20 gift certificate for yourself with the purchase of a $100 card
Hint: If your average sale is about $150, then the incentive should be given on gift card sale of $200 – increasing your average sale!
Capture the late shoppers
More than one in every four digital or online cards sold in December are sold between December 21st and 24thEmail daily during week before Christmas.
Make it easy to purchase
Utilize your website, email and social to sell direct.
No matter what type of business you own, gift card sales can add to your bottom line this holiday season and well worth the effort to create a successful sales strategy!