Where e-gifting is the norm
Everyone is happy when they receive a gift card from a store that they truly like. It gives them the freedom to choose exactly what they want, rather than get saddled with a gift that they do not like. Since it was first introduced in 1999, the gift card sales figures have gone from $19 billion to $97 billion in just one decade. When digital gift cards first came about, they accounted for just about 4 per cent of overall sales, but with time, those receiving and buying digital gift cards have gone up to 50 per cent of total sales as of last year.
If one were to try and build a profile of the kind of buyers of digital cards, then you would find that they are largely females and those who are single. The biggest population is in the graduate college level and they prefer this mode of gifting for its swiftness and for its ease. Considering the range of products that are covered with digital gift cards, one can opt for anything ranging from fast food to cosmetics. Based on this, marketers are now working on expanding their reach with digital gifting cards and targeting age groups and kinds of people.
If you are in a business that has the potential to work out a strategy for digital gift cards, here are some thoughts on how you can improve your business sales figures. The main idea is to stand apart in the crowd. Do something that makes you different and use that to promote your brand and product. You could think of topping up cards for free for amounts beyond a certain figure. You will also need to promote your digital gift cards in areas where your target group hangs out a lot. This will mean improving on your visibility and ease of availability. Social media has great potential in this regard.
Try and innovate at all times and this will help you have something new to promote to your crowd always. Your designs will need to be unique to your brand in order for them to click. If you are promoting your card on your online store, then you have to make sure that getting the card is with as minimal clicks as possible. Should you have any particularly popular gift item unavailable, then the window will have to provide an option for purchasing a gift card instead. These are just some of the ways in which you can ride the wave of success with digital gift cards.