Gift Cards Important Tool When Building Sales
Retailers can benefit by seeing gift cards as more than a financial instrument, according to global gift card provider Stored Value Solutions (SVS).
“For many retailers, gift cards are simply a plastic replacement for paper gift vouchers, and they see no value beyond their monetary representation,” asserts Germain Roesch, SVS Executive Vice President International. He adds, “The reality is that gift cards can be an incredibly powerful tool and drive business success well beyond direct gift card sales.”
Recent independent consumer research carried out on behalf of SVS in the UK supports this philosophy. Of the people polled, 25% of respondents revealed they had redeemed a gift card for a brand they had heard of, but had never visited. In addition, a fifth of consumers under age 34 became repeat shoppers at a brand for which they had received a gift card.
Perhaps most powerful of all, as many as 10% of consumers became repeat shoppers at a brand they had previously disliked after having redeemed a gift card there.
As Mr. Roesch says, “Gift cards have been proven to create repeat business and build loyal customers who will continue to shop at a brand using gift cards and other payment methods. This is the holy grail for retailers when it comes to acquiring customers, engaging them and motivating additional purchases.”
About the survey
SVS commissioned independent market consultancy Trifecta Research Group to research gift card use and attitudes. They surveyed 1,000 consumers in April 2014 who were chosen to reflect an accurate cross-section of the UK in terms of age and gender.
About Stored Value Solutions (SVS)
Award-winning SVS is a global provider of gift cards and stored value solutions, managing successful gift card programmes for top retail brands around the world. We support over 600 million card products in 50 countries and 26 currencies every year – with each card possessing the ability to influence consumer behaviour and drive sales. Through 20 years of industry experience, our team has expertise in retail gift cards, promotional offers, consumer engagement strategies, eCommerce solutions and mobile interactivity. To learn more, visit us at: www.storedvalue.com