If you’re business isn’t offering gift cards, then you’re missing out on numerous benefits. Here are just a few reason to consider making a small, safe, and highly effective investment in company gift cards.
- Perfect for the holidays. As you can probably imagine, retail sales in general tend to skyrocket during the holiday season. For some retailers, in fact, the holiday season represents one third of all annual revenue. Even considering this, gift card sales are still proportionally higher during this season. In other words, gift cards are very clearly a popular holiday season gift, and thus represent a tremendous opportunity both in the retail industry and beyond.
- Bring new customers through the doors. Oftentimes, gift cards are given by frequent patrons to new or not-so-common patrons of a business. This gives you a chance to show off your products or services and win a new regular.
- Gift card sales often bring in additional profit. Should your customer fail to use the entire value of the card, the difference represents pure profit. If you customer uses more than the value of the gift card, the difference represents sales that were likely generated by the sale of the card.
- Boost your margin of profit. Studies have shown that customers are significantly more likely to purchase brand name products when shopping with gift cards–which tends to bring in a slightly higher margin of profit on each sale.
- Decrease the rate of returned merchandise. Returned merchandise, which can be quite the headache, tends to skyrocket during the holiday season due to unwanted gifts. Offering gift cards can help decrease the rate at which your company is faced with this dilemma.
Interested in offering gift cards? Visit ID Source online today to learn more about how your company can take advantage of this exciting opportunity.