Nights are getting longer, the festive season is just around the corner and shoppers are in high spirits searching for the perfect gifts for their loved ones. However, as a business, you are stumped on how to get that extra little cash into your till.
For businesses, this time of year holds immense potential to boost sales and increase footfall into stores. There's one strategy that has been proven to work time and time again, and that is the use of gift cards. According to the Gift Card and Voucher Association (GCVA) the average proportion of monthly gift card buyers has increased to 52.3% in 2022 compared to 49.1% in 2021. This showcases, that gift card purchases are on the rise and during Christmas 2022, 53% of UK gift card buyers purchased a physical gift card in-store. Therefore, this is a perfect time to think about your gift card marketing strategy and we are here to help.
In this blog post, we’ll explore the various benefits of gift card programs for businesses during the Christmas season and why you should seize this opportunity to make the most of the holiday rush.
1. Attract last-minute shoppers
For some, Christmas shopping often turns into a last-minute dash, a race against the clock to pick up anything and everything on their list. And what do these frantic shoppers want? Quick and convenient presents. That’s where gift cards come in. They offer shoppers the perfect answer. A chance to purchase a thoughtful gift while saving time on selecting individual items. By offering gift cards to your customers, your business can cater to the procrastinator shoppers, extending the window for Christmas sales and capturing those who are late to the gift-buying game.
2. Encourage repeat business
The fantastic thing about gift cards is that they are not just a one-time purchase; they are a ticket to a potential ongoing relationship with your customers. When recipients come into your store to redeem their gift cards, there is potential for them to spend more than the card's value, therefore, increasing the average transaction amount. This means you have an opportunity to transform new customers into loyal patrons, returning to shop again.
3. Easy to implement and manage
Setting up a gift card program is relatively easy and can be a cost-effective solution with the potential for significant returns. Managing the program requires minimal effort and your customers can conveniently purchase and redeem gift cards in-store or online.
4. Attract new customers
Gift cards are a wonderful way to introduce a new customer to your business. When redeeming their cards within your store, they may bring along friends or family to have a look around as well, which as a result expands your customer base. Additionally, offering gift cards as part of your marketing strategy can attract individuals who might not have otherwise considered shopping at your store.
Gift card programs offer a plethora of benefits to businesses during the Christmas season and beyond. They attract last-minute shoppers, encourage repeat business, and are easy to implement and manage. If you haven’t already considered a gift card program, this is the time to do so. Why not make the most of the festive season and the long-lasting impacts gift cards can have on your business?