Most people have given or received a gift card at some point. They are easy to deal with and the recipient can often get their hands on exactly what they want, without having to first exchange a physical gift.
But as a business owner, there is an added economic advantage to selling gift cards. Often, the gift card value does not quite cover the cost of what the recipient wants, and therefore the sale of a gift card is most often associated with considerable additional sales, wherein the gift card recipient supplements the remaining costs.
Gør gavekortet til en æstetisk oplevelse
If you want to give customers the very best experience when receiving a gift card, enticing packaging in the form of an aesthetically pleasing gift card box can express traits that appeal to the customers’ lifestyle, making them more eager to shop in your store.
Moreover, it seems that the right packaging might actually be a necessity. One study has shown that up to 20% of all gift cards end up gathering dust in a drawer. They are simply never used, because the recipients forget to bring them to the store and redeem them before the expiry date. Of course, this 20% can be viewed as pure profit for the business, which is in itself a great incentive to sell gift cards, but the sight of an aesthetically appealing gift card that reflects your brand can help to extend the recipients’ experience, from when they open the gift card to when they visit your store. This will then help to attract more customers, because who doesn’t want more aesthetically appealing experiences and products?
If you want to make sure recipients of your gift cards are delighted at the initial sight of the gift, there are a multitude of options and varieties to choose from, depending on how you want your brand to be presented. You can both design the gift card itself to reflect your business values, and make the packaging extra special with a creative gift card box. The only limit is your imagination!
The three most popular things to give gift cards for are for personal care, experiences, and clothing and shoes. However, gift cards are given in a wide range of retail sectors, demonstrated by significant sales in hardware shops, bookstores, shopping centres and toy stores. This shows, therefore, that a gift card is for everyone and that its value for the recipient is not to be underestimated.
Whatever you wish for, you can have
According to a survey by Danish gift card retailer ‘Send En Tanke’, gift cards are the preferred gift on women’s wishlists, and are only surpassed by books for men. It is therefore perhaps not so surprising that men are the ones who purchase the most gift cards.
Another consumer survey carried out within the British market by The UK Gift & Voucher Association shows that the average gift card is worth £27.64.
However, the survey also shows that two out of three spend more than the value of their gift cards when they choose to redeem them.
In fact, when redeeming their gift cards, recipients spend on average £18.55 on top of the original value of the gift card in order to buy the item they want the most.
Out of 2000 people surveyed in the British survey, 84% had previously purchased a gift card, and of these, nine out of ten buy a gift card at least once a year.
Despite it being the youngest target group that most often make gift card purchases – with almost half of this group buying gift cards at least once every other month – the older generation are definitely also involved. Approximately 4 out of 5 individuals over the age of 55 buy gift cards at least once a year.
The survey by ‘Send En Tanke’ also states that as many as 83% of all businesses typically give gift cards as presents to their employees. This shows that most people like receiving gift cards, so it is simply a question of giving people the opportunity to buy them in your store.