PVC Plastic Card Printing
FOUR WAYS GIFT CARDS HELP SMALL BUSINESS MAKE A BIG IMPACT
The gift card industry is a continually growing force, providing benefits to both large and small business. Here at Creative Card Group, we encourage small business growth. Christian Nashas, the Vice President and General Manager of the NCR small group said, “Offering gift cards gives small business owners the power to easily build their business”.
According to recent data from the National Retail Federation, it is projected that nearly 81 percent of shoppers plan to buy a gift card this holiday season. An article from the Los Angeles Times stated that only ten percent of small businesses sell gift cards. This means that nearly 90 percent of the small businesses are missing out on big profits and the opportunity to create a devoted customer base.
- INCREASED CUSTOMER SPENDING: Most customers spend 33 percent more than the value of the gift card, creating higher sales numbers for the merchant. Many customers view the gift card as free money that does not come out of their pockets. Therefore, the customer is willing to spend more than normal. The gal that usually comes in just to buy a top will now consider adding pants and shoes to that purchase.
- ENHANCED SHOPPING EXPERIENCE: The business owner is giving the buyer what he/she demands. Many customers are choosing gift card purchases over product purchases. Though, retailers see a great spike in gift card purchases around the holidays, consumers are purchasing gift cards throughout the year. Birthdays, weddings, graduations or any event that results in gift giving are all occasions that more and more people opt to send gift cards in lieu of an actual gift. The retailer that does not offer gift cards as an option will miss out, as the customer will shop elsewhere for the gift of a gift card.
- BETTER BRAND RECOGNITION: Small business owners must make their business memorable. The business that utilizes a gift card program to foster brand recognition has a leg up on the competition. That business has its logo on a card that the shopper will see every time he/she opens his/her wallet. Businesses adding a QR code to the card, linking the customer to the business website or social media pages, will give the customer a full view of the business, its offerings and its culture. Providing the customer with this type of interaction allows the business to shine and set itself apart from other vendors. Word of mouth has always been one of the best ways to build brand recognition. The giving of a gift card from one person to another is a great way to spread that word of mouth recognition.
- IMPROVED CUSTOMER LOYALTY: Adding a loyalty program to the gift card is a great way for a business to create repeat customers. An emotional connection is made with the consumer when he/she receives awards through a gift card rather than through a credit card or bank account. This is because the award is associated with the specific store’s card. The consumer remembers this and will return to that store to earn those loyalty points when shopping.