With Summer almost a distant memory and the shelves filling with Halloween and Christmas goodies, the retail sector are already planning for their busiest time of year; whilst traditional presents have their charm, there’s one versatile option that never goes out of style – gift cards.
It’s no secret that they’re a popular choice for many and by offering the gift of choice, it ensures that friends and family get exactly what they desire.
But, there’s a catch: to make the most of your gift card program this Christmas, it’s crucial to start planning today.
The Gift Card Phenomenon
Gift cards have become more than just a last-minute option for the indecisive. They have evolved into a thoughtful and personalised way of showing you care. According to research by the Gift Card and Voucher Association and KMPG, gift card sales grew by 28% in 2022, with the retail sector continuing to dominate the market – showcasing their increasing popularity amongst UK shoppers.
So, why should you be thinking about your gift card program now? Here’s why:
1. Crafting the Perfect Strategy Takes Time
Creating a successful gift card program requires thoughtful planning. From designing eye-catching card designs to deciding on the terms and conditions, there are many aspects to consider. An early start also allows you to create effective marketing and promotional campaigns for your gift card program. You can leverage social media, email marketing, and other advertising channels to build both anticipation and excitement whilst also allowing more time to tailor your gift card program to your audiences’ preferences.
2. Beat the Rush
Christmas is known for its hustle and bustle, with everyone rushing to find the ideal gifts. By launching your gift card program early, you’ll be ahead of the game. This not only ensures you’re well-prepared but also provides potential customers with a stress-free gifting solution.
3. Boost Your Sales
Gift cards not only bring joy to the recipients but also huge benefits to your business. By encouraging customers to visit your store or website, it increases both footfall and online traffic. Plus, gift cards often lead to additional sales, as recipients may spend more than the card’s value when they come to redeem.
4. Build Brand Loyalty
When someone receives a gift card, they become not only a recipient but a potential future customer. Gift cards can be a powerful tool for building brand loyalty, as they introduce new customers to your products or services. By making your gift card experience both simple and enjoyable for the purchaser and the receiver, you will become front of mind for future purchases.
5. Choosing a Gift card Supplier
Picking the right Gift card partner and program manager also requires research and consideration. Here at Crunch we pride ourselves on being gift card experts, with a bespoke platform built from the ground-up, it ensures we can manage every aspect of your gift card program. We have a proven track record of supporting stores to increase footfall, elevate customer experience and promote spend within the store.
To talk to find our more information, click here or to talk to Mark, our gift card expert, contact mark.dillon@crunchpayments.com