Gift cards are popular for birthday gifts, holidays, and many other occasions, and providing a gift card option could elevate your business by increasing customer spending, expanding your customer base, and building brand loyalty! If you are not yet issuing gift cards at your business, consider these benefits:

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  1. Expand Your Customer Base: As a business, it is important to consistently grow your customer base. Since gift cards are typically given to a different recipient than the buyer, gift cards have the potential to assist in expanding your customer base and increasing traffic to your website or brick-and-mortar location.  Gift cards are a great way for existing customers to promote your business and broaden your reach.
  2. Increase Sales: Research has shown that consumers who receive gift cards tend to spend more than the gift card’s value upon its redemption. When customers use a gift card, they feel like they are getting something for free, which creates increased spending on additional items for a boost in sales.  As existing or new customers choose what they will use their gift card to purchase, they will experience the business; thus, gift cards can also be a marketing tool.  This tool can make your business a preferred gift location or option for seasonal and holiday shopping.
  3. Utilization for Rewards and Promotions: Gift cards combined with well-designed rewards or loyalty programs can help your business utilize promotions and retain customers. Gift cards can be given away if they spend a certain dollar amount on products (or services), earned through a points program, or used for customer appreciation. Additionally, customers can have the option to reload their gift card; thus, creating additional opportunities for spending.

Gift cards could be an important aspect in enhancing your business and its success.  With gift cards, you have the potential to expand your customer base, boost your sales, and much more. To learn more about Arvest Merchant Services and how you can utilize gift cards for your business, click here.