Gift Card and Customer Loyalty Program
A crucial aspect of every business is keeping its current customers happy while continually gaining new customers and increasing sales. EBA Financial understands the unique challenges of competing with larger retailers and we specialize in providing customized payment solutions designed to increase customers.
Gift card programs help businesses boost their sales by not only bringing in new customers but also by increasing each sales total and encouraging repeat visits. They are also a cost-effective and affordable marketing medium for building brand loyalty.
There are several benefits of adding Gift Cards to your business:
1. Expands customer base - Almost 50 million adults purchased gift cards for their friends/ family in the last year
2. Increases sales - 61% of consumers often spend more money than the gift card's original face value amount
3. Builds brand loyalty - Both existing and new customers become more connected to your business
4. Boosts up-selling - Adding gift cards at your check-out counter inspires customers to purchase for their friends/ family
5. Decreases cost - More efficient to issue gift cards electronically compared to manually creating gift certificates
6. Increases efficiency - Gift cards are electronically charged and funded through your credit card processing terminal
7. Saves Time - Electronic "stored value" function automatically updates unused balance eliminating the need to reissue
8. Adds Convenience - Ability to reissue a lost gift card if consumer has kept the original purchase receipt
9. Builds Value - Affordable & cost efficient marketing method
Gift Card Facts & Trends:
We've partnered with Tender Card, a pioneer of gift cards and loyalty programs, to offer the most cost-effective gift cards available, with quantities as low as 100 cards available for smaller merchants who don't require as many cards as national chains. They are available either pre-designed in a variety of colors or customized to build upon your businesses brand.
As gift cards become increasingly convenient, more personalized and more sought after, retailers can expect to see a significant increase in gift card sales this year. Additionally, the average consumer will spend more on gift cards than they did last year.
According to the National Retail Federation (NRF), the inaugural NRF Gift Card Survey, conducted by BIGresearch:
- Gift card sales are forecasted to increase 5.7% to $217.4 billion, representing the largest increase since 1999
- Survey showed 48% of consumers are planning to purchase at least one pre-paid card or gift certificate this year and 29% of consumers will buy three or more
- Of those planned purchases, 35% will spend $25-$30 on each card while 25% will spend $50 or more
- 48% of consumers said they would like to receive gift cards this year, up from 41% the previous year
- Gift card sales this holiday season are forecasted to total $26.3 billion, compared to $24.8 billion in 2006