According to a new survey from the Retail Gift Card Association, up to 70% of consumers will buy gift cards for friends and family by the end of the summer. This is an important finding for B2B gift card programs as well. Why's that? Because the survey also revealed that 95% of consumers are hoping to
receive gift cards this spring and summer. While this directly applies to celebrations like birthdays, graduations and weddings, the popularity of gift cards can also segue to employees recognition programs, health and wellness programs and employees rewards. Here are key findings from the study:
- Omnichannel Flexibility: The variety of redemption options offered with gift cards, such as online, on mobile or in-store, provides the flexibility consumers are looking for in their shopping experience. When the gift card comes from an employer, this raises the profile and trophy value of the reward. This means more ROI for employers.
- Gift Card Diversity: Gift cards fulfill different needs for different employees. For some, it might be an opportunity to eat out and treat themselves. For others, they might be able to purchase something they've had their eye on but couldn't afford. However they use it, the diversity satisfies each employee's need or want creating greater appreciation for the gift.
For more information on the RGCA and how gift card popularity could affect your employees recognition, rewards or health and wellness programs this summer check out this article from Convenience Store News.