Retailer Gift Cards Remain the Most Popular Item in Reward Programs
Despite the recession, US consumer participation in Loyalty and Rewards programs is on the increase across all demographic segments.
Employees are apparently leaning on loyalty programs to stretch household budgets further by earning rewards for their purchases. The retail category demonstrates the highest positive impact in reward program attitudes, with 75% of the consumers surveyed reporting a net neutral or positive effect on their program participation as a result of the declining economy.
In a recent survey by Colloquy, nearly half (46.4%) of responding young adults rate retail rewards as "more important" during the recession. This outpaces the general population, at 32.3% for the same category.
Retailer gift cards are the most popular item in Reward Programs. They create excitement around a shopping experience. When a recipient receives a gift card and they can spend it on whatever is important to them, so? the recipient always remembers that the item they bought or came to them from their company.
It's important to build a Gift Card based program around a variety of shopping options so that your program can offer your recipients the opportunity to have a personal buying experience.
When you offer your recipient a personal buying experience, the motivational impact of your program increases exponentially.
By buying gift cards from one-stop sources such as GiftCard Partners, companies can create a highly motivating, financially advantageous, rewards program. The best gift card program should include a selection of retailers that serve both the everyday needs of the recipient as well as those they aspire to. For example, if the recipient has always wanted to shop at Express but has not yet done so, offering an Express Gift Card is a great way to reward them with something that would normally be out of reach.
As companies constantly strive to enhance the positive gift-giving experience, a well-chosen array of gift cards from high quality, convenient merchants can add more clout to any program.
*Source: Colloquy's US Loyalty Studies 2007-2009
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