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Givex, a leader in the gift card industry, shares insights and action plans to help your business tap this growing market and hit the ground running ahead of the buzzing holiday season.
Gift Cards Are the Holiday Sales Goldmine
Business-to-business purchases of gift cards account for 72% of sales.2
Elevate
Consumers desire to travel, try new foods, visit spas, climb mountains, invest in their health and wellness and other experiences rather than collect more “things.”
Givex, a trailblazer in leisure gifting, offers these recommendations:
Virtual gift cards offer numerous advantages and overtook physical cards for the first time in the first half of 2024.
The Growth of Digital...
Provide a seamless customer experience by accepting physical and digital cards across all digital and physical platforms.
Givex, a leading provider of gift cards, offers advice on boosting B2B business.
An Incentive Upswing for B2B
Holiday season is coming, and businesses that aren’t prepared to capitalize on gift cards are leaving money on the table. In fact, recent research shows that 52% of consumers plan to give gift cards this year. With B2B programs booming, digital acceptance expanding, and a growing demand for travel and entertainment, now is the time for merchants to elevate their gift card sales strategies.
Here’s what else you need to know to stay ahead of the curve
Incentive Upswing in B2B
that gift cards are...
Closed loop cards, redeemable by a specific institution, dominate the market, with a 62% share.1
Offer Experience Gift Cards, pre-paid luxury experiences that give users access to the hotel's best amenities. The cards do not have a face value, and the cost is not revealed to the recipient; instead, they are loaded with an experience or a combination of experiences.
Gift Card Registry programs allow family members and friends to add money to a single gift card. The recipient can use the funds to pay for travel expenses, gift registry or lodging with the issuing brand.
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No wonder the leisure gift card sector experienced a 15.5% growth rate in the first half of this year.2
With the holidays around the corner, it is time to gear up for demand for digital gift cards, especially for last-minute shoppers.
Hotels have expanded with more destinations to accommodate travelers.
Memorable Moments Edge Out Physical Gifts
Sources:
https://www.precedenceresearch.com/gift-cards-market
https://www.gcva.co.uk/knowledge-hub/kpmg-data
https://nrf.com/media-center/press-releases/latest-nrf-survey-shows-top-picks-Toys-and-gifts-winter-holiday
BOOK DEMO NOW
Gift Cards Boost Morale, Retain Talent
The beauty of B2B is that bulk sales result in large quantities.
Various industries use gift cards as sales incentive awards, employee benefit programs, a perk, a show of appreciation, money for meals, or to thank clients.
Work with card processors that offer an online gift card marketplace, such as giftpass.com, to expose your brand to new customers and generate new online sales.
Drive referral business by distributing gift cards as powerful incentives to booking agents and suppliers while building stronger business relationships.
Consider offering a range of pre-denominated card values, such as $10, $20, or $50, to generate cash flow when selling in bulk. Offer discounts on bulk card orders to vendors and suppliers to secure their initial purchase, turning them into repeat B2B customers every holiday season.
The Quest for Experiences
Book a free demo or speak to a gift card expert at Givex.
a
To Elevate Your
Gift Card Sales
business.
(yes, that's one trillion)
THE 3 WAYS
Take Action
Givex found that 70% of survey respondents are more likely to purchase a digital gift card over a physical one for others.2
Innovations in gift card marketing such as personalized gift cards and animation ignite the growth of digital.
Gen Z consumers, in particular, like the convenience and immediacy of digital cards.
Digital cards offer last-minute solutions for all ages.
Work with card processors that are integrated with popular payment apps such as Apple Pay and Google Pay.
Offer small perks to boost sales among the Gen Z demographic. Example: Buy one $20 gift card for a friend and get a $5 freebie gift card for yourself.
Value-added promotions are popular with GenZ and are a great way for them to engage with brands.
Expand your digital reach.
...almost a $1 trillion
global market2
...projected to grow at a
CAGR of 17.7% thru 20331
...one of the top gifts for holidays3
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Gift
Growing Digital Acceptance
Growth of
Experiences as Gifts
B2B corporate gifting and incentive programs are also driving the trend.
...and the Resiliancy of Physical
Take Action
Take Action
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Your
Gift Card
Strategy
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62%
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