We live in an increasingly digital world. According to Invesp, 62% of US consumers with Internet access shop online at least once a month on average, and that number has increased to 76% in the recent months due to more people staying home during the COVID-19 pandemic. This online growth has become an opportunity to recognize employees and thank customers by using eGift cards as loyalty rewards in order to increase retention, drive long-term business and increase the lifetime value of customers.
The cash vs. gift card debate in the reward and incentive world has a common misconception that cash is more appealing, therefore more motivating, to someone receiving it. However, studies show that gift cards are not only more intrinsically appealing, but also more effective at creating positive associations and changing behavior.
For those in need, covering basic, everyday expenses can be a constant struggle. All nonprofit organizations and charities helping at-risk populations should place an emphasis on providing the essential items and services needed by those they assist.
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