tarjetas regalo y programas de puntos

Gift cards and rewards programs to boost your holiday sales

The holiday season is one of the most important for retailers. Consumers make more purchases during this time of the year, making it and ideal time to increase sales.

Two marketing tools than can help you as a retailer to increase sales during this campaign are gift cards and rewards programs.

Gift cards

Consumers can conveniently and flexibly purchase desired items whenever they please with gift cards, providing a hassle-free way to shop in-store.

According to a survey conducted by the National Retail Federation, 68% of U.S. consumers plan to purchase at least one gift card during the 2023 holiday season.

Some of the ways that gift cards can help you increase sales in your store include:

  • Attract new customers
Gift cards are a great way to introduce consumers who may not be familiar with your store. When a consumer receives a gift card from your store, they are more likely to visit and make a purchase.
 
The gift card formula is a versatile form of gift that is not exclusive to a single store; there are many stores, franchises, chains, department stores, etc. that have their own gift cards. This makes it a medium that is not unknown to the customer. The person receiving a gift card can use it to buy something they really want or need, which increases the likehood that they will become a regular customer by satisfying that need.
 
  • Increase in impulse purchases
Gift cards can cause consumers to buy more that they intended. This is because gift cards offer consumers an amount of money to spend. 
 
For example, if a person receives a $50 gift card, they are more likely to spend more that $50 in your store. This is because thay don’t have to worry about spending their own money, so they feel free to spend.
 
  • Customer loyalty
In addition to the above, gift cards can also be a way to reward your store’s regular customers and encourage repeat purchases. When a regular customer receives a gift card from the store, it increases their loyalty to the store by making them feel valued and appreciated.
 
gift cards and rewards programs
 

Rewards Program

 

Rewards programs are a way to build customer loyalty and encourage repet business. Customers earn point with every purchase and can exchange them for discounts, free products, or special experiences.

This system gamifies the purchase by providing rewards for spending, creating a sense of urgency in the customer to move up levels and points to get better rewards and forge a stronger connection with the brand.

According to a study by RetailMeNot, consumers who participate in loyalty programs spend 17% more than those who do not.

Points programs can help increase your store’s sales in many ways:

  • Customer loyalty

This is also an important factor in gift cards. As we mentioned earlier in this article, points programs make customers feel valued and rewarded, which encourages them to return to your store. When customers know they can earn points for shopping at your store, they are more likely to do so.

Points are a form of reward that customers can exchange. This makes them feel valued and appreciated, which encourages them to make repeat purchases.

  • Increase average spend per customer

Customer who participate in loyalty programs tend to spend more per purchase. Points give customers an incentive to spend more.

For example, a customer participating in a points program that offers 1 point for every $1 spent may be more likely to spend $100 rather than $50. This is because they know they will earn 100 points for the purchase, rather than 50. 

  • Customer data generation 

Points programs can provide valuable data about customer buying habits that can help you improve your marketing strategy.

For example, you can use data from your rewards program to find out which products are most popular with your customers, what days of the week they shop, and what times of day are busiest in your store. 

All of this data can help you optimize your marketing strategy to reach your customers with the right message at the right time. 
 
gift cards and rewards programs
 

Tips for increasing the impact of gift cards and rewards programs

 

Points programs can provide valuable data about customer buying habits that can help you improve your marketing strategy.

For example, you can use data from your rewards program to find out which products are most popular with your customers, what days of the week they shop, and what times of day are busiest in your store. 

This data can help you optimize your marketing strategy to reach your customers with the right message at the right time. 

Tips for increasing the impact of gift cards and rewards programs
 

For gift cards and rewards programs to have a positive impact on your sales, it is important that you promote them effectively. Here are some tips:

  • Make your gift cards attractive: Offer a wide variety of designs and prices so consumers can find the right card for their needs.
  • Promote your gift cards: Let consumers know you have gift cards available through your usual marketing channels, such as your website, social media and mailing.
  • Customize your rewards programs: Offer rewards that are relevant to your audience.
  • Make your rewards programs easy to use: Make sure customers understand how to earn and use points.

partners cosin intersolve gift cards and rewards programs

Meet Intersolve

 
Amoung the various gift and loyalty card solutions on the market, we at Cosin have chosen Intersolve.
 
Intersolve is a leading provider of gift cards and loyalty program solutions, offering a wide range of products and services that help merchants increase sales and customer loyalty. Headquestered in the Netherlands, the company works with a wide range of partners and customers around the word.
 
Amoung his solutions are:
  • Gift cards: From physical to digital. Intersolve gift cards can be customized with your logo and brand colors.
  • Point programs: Intersolve has both simple and complex point programs.
  • Management platform: Efficiently manage your gift cand and rewards programs through a platform available from any browser. Get real-time information on gift card and rewards program performance. 

Working with the Intersolve solution with Cosin Consulting means having a high quality product and service, with two expert partners in the retail sector, and quality support and assistance.

Would you like to implement a loyalty system in your retail and gift card business?  Contact us and our team of experts will help you improve your customer experience and improve the profitability of your business.