Gift cards are a cost-effective way to secure revenue for your business all year round, regardless of when your busy or quiet business periods typically fall.
Having bespoke gift cards to sell to customers carries many benefits for small, medium, and large organisations – from small local high street shops to larger stores with branches in multiple locations.
How do small businesses benefit from selling gift cards?
Gift cards are usually purchased to give to friends and family, providing your business with a new stream of customers. With 72% of gift card users spending 20% more than the original value of their card, you’ll gain extra revenue from a source that previously didn’t exist for your business.
Another positive for businesses is that gift cards provide a significant cash flow boost, as money is taken upfront. This means you don’t need to provide goods or services immediately, reducing pressure on your stockholding capacity during peak periods. And even if your customer doesn’t use redeem the entire value of their gift card, all unused money will count as 100% profit.
It’s also extremely easy to oversee your gift card scheme using our cloud-based management software. It is also run on a mobile or tablet device and doesn’t require any specific or expensive hardware to be purchased upfront. You just need to download the easy-to-navigate app, and you’re set to go!
If your customer needs to return an item for whatever reason, you can make sure that any spending remains inside your business by using gift cards as an alternative form of a refund.
Gift cards are also much easier to market than gift vouchers, thanks to the attractive printed carriers and professional displays they can be displayed in. Unlike traditional paper vouchers, which are easy to misplace and usually have a one-time use, plastic printed gift cards are far more durable and can be reused many times. Plastic gift cards also offer more security because the value isn’t loaded onto the card until it is activated by the business.
How can offering gift cards improve your small business?
For independent stores, it’s already difficult enough to compete with national chains, well-known names, and businesses in the same sector as you, but gift cards help to ease that stress by giving your business an edge over competitors who don’t currently have a gift card system.
A digital gift card system allows you to offer printed bespoke gift cards whilst also enabling you to give your customers e-gift cards. The recipient receives their digital gift card in the form of an email, containing a unique QR code that can be shown in-store and scanned by you for a quick and easy transaction.
Having a gift card system in place is very cost-effective for small businesses – you can have access to 500 gift cards and unlimited scans/redemptions from as little as £40 per month. Not only will you stand out compared to other businesses, but you will also give local customers a way of supporting independent shops in their area.
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