The only thing constant in the B2B gift card market is that it’s constantly evolving. This can leave retailers scrambling to keep up with the flow and not get left behind. One such evolution is digital gift card growth in the B2B market. Retailers are taking a closer look at the effect this growth in digital has on the bottom line of their B2B gift card program.
In a recent interview with
GiftCard Partners, Madeline Wong, President of Haven Rock Consulting, specializing in strategic consulting services for Gift Cards, Digital Gifting, and Mobile Payments, and Kathy Cook, a current Gift Card Consultant to major retailers across the U.S., provided a retailer’s perspective on how digital gift card growth is now shaping the B2B gift card landscape.
“Digital is a critical component to growing a B2B gift card program. The immediate gratification of a digital gift card is very appealing to the recipients and the convenience of delivery appeals to the incentive companies,” says Madeline.
Each retailer’s involvement in the B2B market is different: from a team’s size and expertise to their operations and payment options. In such a complex, quickly-changing market, it is clear that there is no silver bullet for success. Digital gift card growth for retailers comes in many shapes and sizes, depending on a number of factors. Kathy explains,
“Every retailer is at a different stage of adoption, and where they are can dictate how they go about setting up their digital strategy.”