Posts Tagged ‘Gift Card Trends’

Using Gift Cards to Prompt Consumer Behavior

Friday, April 4th, 2014

thGift cards are a great incentive to get employees to perform a certain behavior at a certain time, aligning your customers to advance your business goals. A great example of gift card use for mutual consumer and retailer benefit is currently being displayed by Microsoft with relation to the phase out of Windows XP. Microsoft will cease providing support and updates for the operating system next week, so the software giant is providing gift cards to any consumers who purchases a laptop running Windows 8.1 and can prove they previously had a computer running Windows XP. The gift card is good for laptops over $599 and also include a limited amount of tech support.

Windows needs consumers to phase out use of Windows XP to prevent security issues for their customers. And if you’re running a computer with Windows XP, chances are you could use a new laptop. The leverage gift cards provide solve both issues, while still offering consumers a choice in which product they upgrade to and giving them a wide time range to take advantage of the offer. How could you use gift cards to leverage your consumers’ behavior?

For more information on the Microsoft offer or to learn how to use gift cards to prompt consumer behavior check out this article from Incentive Magazine.

The Buzz About Gift Cards

Monday, January 13th, 2014

In 2013, $118 billion were loaded onto gift cards in the U.S, up almost 8% from 2012. This spending is segmented to cover open-loop cards, restaurants, retail, egifting and miscellaneous categories like BMW and Spa Envy.

I can see first-hand the popularity of gift cards as I have about 3 in my wallet waiting to be spent.

Check out the infograhic below, taken from CEB TowerGroup’s annual gift card report, and see the evolution of gift cards, as well as some of the challenges and opportunities to come.

CEB TowerGroup   2013 Gift Cards Report Infographic

Holiday 2013: Gift Cards Top Shopping Lists

Thursday, January 9th, 2014

Gift cards were at the top of shoppers’ lists again in 2013, and while we are still waiting on total evaluation of the 2013 holiday season there are some stand-out data points from NRF’s initial holiday survey in October. Gift card spending was up again, with consumers averaging $45.16 per card, up from $43.75 last year. Men were forecast to be bigger spenders  than women, averaging $171.35 vs. $155.42 respectively.

Gift cards’ continued popularity lies in the 43.1% of consumers who think it is more meaningful to allow the gift recipient to choose their own gift. 25.3% of consumers still find gift cards too impersonal, but the former group hold the largest share of the buying power. Gift card popularity looks to be a big part of the holiday mix, and doesn’t seem to be at risk of losing popularity in 2014.

For more information on gift cards’ holiday popularity check out this article from the NRF.

2013 Key Holiday Gift Card Trends

Wednesday, December 11th, 2013

The Retail Gift Card Association (RGCA) recently released their Holiday Gift Card Trend Tracker Survey results, and there are some great notes for our retail and merchant clients, and for our B2B gift card customers as well.

How are retailers approaching this year’s news that consumers will spend less during the holidays  this year than last? The RGCA states, “…despite the tight wallets, there is a silver lining for many retailers: retail gift cards.” They found in their survey that 73% of consumers will spend less this holiday shopping season, while 74% will buy and give at least one, and as many as five, gift cards as gifts.

GCP’s customers, B2B gift card buyers, purchase gift cards in bulk and can also be pleased with these trends. Whatever consumers are doing, B2B buyers will want to be aware of and follow suit.

Key Trends for Retail Gift Cards graphic

 

Whether you are a retailer looking for the latest gift card trends
or a B2B gift card buyer, you’ll want to
check out the RGCA’s Full White Paper and Report.

 

GiftCard Partners U.S. Survey on Gift Card Usage On-Demand Webcast

Monday, October 28th, 2013

Please join GiftCard Partners (GCP) as we present results from a U.S. poll we commissioned with Shapiro Research to gain a pulse on gift card usage featuring Melina Balboni, vice president marketing and business development, GCP. Attendees will learn about:

  • Incidence and frequency of gift card receipt and redemption
  • New insight on how gift cards motivate store visits and purchases
  • Gift cards acquired through B2B channels, and
  • The answer to the all-important question: do gift cards generate incremental business for merchants?

Spot Rewards – Old School vs. New School

Monday, February 18th, 2013

Written by Forrest Richardson, GCP's Safety Incentives GURU

Fall of 2011 OSHA regulations begin penalizing incentives or disincentives that use lagging indicators.  Since most programs had two main components:  1) spot rewards, and 2) rewards for no injuries; the one item left standing is spot rewards which often wasn’t compelling enough at the time to warrant the initiatives.  Spot rewards in the classic example–where safety manager walks up to employee and hands gift card for wearing of safety glasses–will always present an occasional and valuable opportunity for amplifying the message in a safety culture; but the range of strategies and influential program designs can go much further.

Instead of having safety management handing out gift cards on the floor or daily, save rewards for your safety meeting to employ a strategy of praise in public, coach in private.  While maintaining record of which employees have received a workstation inspection recently and systematically observing production throughout staff evenly, have an objective approach by not mixing incentives during that time.  But take good notes for the safety committee to review for recognition at next week’s meeting.  Old-school way might have been a practice that lends itself to “here comes the safety sheriff”.  New school ways reinforce safe behaviors by giving recognition publicly at safety meetings so the workforce individuals each know what gift card their peers received and what behaviors they were observed doing correctly and when, and then got surprised with reward and recognition at the meeting.

How to Bring Wellness to Your Workplace

Wednesday, August 22nd, 2012

Loking to learn how to bring wellness to your workplace, looking for the latest corporate health trends, or how to motivate and reward your employees? Check our this month’s Incentive and Wellness eNewsletter for the latest tips, trends, and research for how to make your workplace more efficient and productive.

The incentive and wellness landscape is ever changing. Click here to register for our eNews, you can unsubscribe at any time.

GCP’s Q1 2012 Gift Card Industry Trend Report is Here!

Monday, April 23rd, 2012

The first quarter of 2012 included GCP’s visits to and participation in many meetings, conferences and events, including the PrePaid Expo, the InComm Partner Alliance, the South Florida Success Expo (SWFL), and the Loyalty Expo. In Q1’s trend report, we captured a pulse on 2011 B2B gift card sales results, key gift card market expansion trends for 2012, and an update on the effects of New Jersey’s gift card laws to our industry.

Read the full B2B Gift Card Trend Report here.

 

 

 

eGift Cards: On the Rise, But How are They Perceived by B2B Buyers?

Wednesday, November 2nd, 2011

eGift and mobile gift cards are a popular topic as excitement grows around digital technologies. CreditCards.com reports that one half of the major gift card brands that offer eGift cards only started offering them this year. Retailers and merchants are ramping up to take advantage of growing mobile and tablet buying segments, as they are quickly becoming some of the most valuable online shoppers.

Interestingly, when GCP recently surveyed B2B gift card buyers; we found that the B2B market still prefers to purchase physical plastic cards over

do you prefer egift cards or plastic

GCP's Survey Finds Plastic Most Favorable

digital. 86.5% of B2B gift card buyers surveyed are still more comfortable with traditional plastic. We know that trophy value plays a part in the B2B buyers’ strategy, but perhaps eGift cards are still somewhat too mystical for buyers.

CreditCards.com breaks it down simply and clearly with 3 Digital Gift Card Varieties

  • Email gifting is the most widespread, accounting for about 95% of the digital gifting market, recipients receiving the gift card in their
  • Mobile gifting lets consumers use a smartphone app to send a gift card or have a gift card sent to a mobile
  • Social gifting lets consumers send gift cards via social media sites. For example, Amazon.com lets customers send friends gift cards by posting the cards on their Facebook walls. CashStar’s CEO David Stone states that “Social gifting is growing at a rate of about 400 percent”

Are you ready to buy digital or are you still a fan of plastic? Why or Why NOT? Click here for the full CreditCards.com E-gift cards take center stage story

Source: CreditCards.com

Incentive’s Latest Gift Card IQ Survey Results Published

Friday, August 26th, 2011

What’s the high level? The 2011 Gift Card IQ Survey reveals good news for retailers when it comes to “bigger” incentive gift card budgets. The five largest budget categories (all above $75,000) all increased.

For example:
-    Budgets “more than $100,000 nearly doubled to 15 percent this year, compared with 7.8 percent in 2010.”

Incentive Magazine Online

Always Keeping us Apprised of Gift Card Trends

-    “The most dramatic gain was in programs with budgets between $250,000 and $499,999, which jumped from 0.4 percent to 3.9 percent—nearly 10 times the number seen in 2010.”

This is also good news for customers (incentive/gift card buyers), as maintaining or increasing budgets mean job security for incentive program managers and staff.

It appears that the downside comes for low-budget gift card programs (less than $1,000 segment and even less than $25,000 segment), as this segment dropped more than 10% from 2010 survey results.

Many interesting data points, charts, and research in this report; read the full report here:  Turning It Around: Our 2011 Gift Card IQ Survey

Source: Incentive Magazine Online