Many times, the benefits of offering store gift cards (or virtual gift cards) are overlooked by merchants. Gift cards are vouchers that holds a certain money value, personalized with the recipients information and can be used as an alternative to payment method.
Businesses that look forward each year for the holiday season boost, gift cards can significantly make a difference in increasing their sales. One of the main advantages of store gift cards is that they can be easily branded, personalized and customized along with giving a full control to the store admins to track the usage in order to understand where the customer likes to spend money via gift cards
According to merchantwarehouse, gift cards eclipsed $118 billion in 2013, an eight percent increase over 2012. While e-gifting fueled a significant portion of the overall growth (increasing from just $300 million in 2012 to an astounding $3 billion in 2013), traditional retailer gift card volume grew as well, rising from $36 billion to $39 billion.
Today, we will discuss some key benefits of offering store gift cards.