Tis the season for office rewards and gifts! Many businesses give some kind of end-of-year bonus to employees, and rewards like this have shown to improve morale.
Are you waiting to buy your business gifts and rewards? No need to fret—you're in the same boat as a lot of shoppers this time of year.
The National Retail Federation (NRF) estimates that 90% of shoppers wait to buy last minute gifts, food, decor and/or other holiday items. The biggest reason people list for waiting is that they were still trying to figure out what to buy.
- 45% are still weighing choices
- 29% are still waiting on ideas from friends and family
- 22% are waiting for the best deals
- 21% admit to just procrastinating
If you're struggling to find the right kind of business gift for everyone on your list, consider the benefits of giving a gift card.
Attitudes towards gift cards
There's debate around gift cards as a gift idea. Every holiday season, shoppers ask if gift cards are still valued by recipients. Many times gift cards may be given the cold shoulder with the fear that they come off as impersonal or lack creativity.
However, 70% of business across the country actively use gift cards in their ongoing reward programs due to their flexibility, ease of use, and lasting satisfaction, compared to cash and other merchandise. And in a 2018 Deloitte Survey, gift cards were reported to be the most popular gift item.
That's to say gift cards are incredibly popular during the holidays, and we're accustomed to buying and receiving them. The fear that they're impersonal comes from the giver, not the receiver.
How the receiver feels about getting gift cards
A 2015 Gift Card Christmas Study from Field Agent—a Fayetteville-based agency who focuses on data collection from consumers—reports that gift cards are viewed as a popular choice. The study revealed that most believe gift cards make "fine holiday presents." Of the 500 shoppers surveyed, 86% of women and 75% of men more or less agree with the statement, "I believe gift cards make good Christmas gifts.”
With gift cards always in-stock, and with few exceptions placed on the cards, there is little incentive for shoppers to buy early making them an ideal candidate for that special last minute gift. Gift cards represent favorite brands and can show the recipient that you know what they like. They also represent restaurants, entertainment, and services that otherwise couldn’t be gifted.
Where you can buy last-minute gift cards
The answer may seem simple: checkout aisles at convenience stores. However, in a recent survey by the Incentive Research Foundation, most managers who go to stores to buy their gift cards don't know there are dedicated gift card agencies that sell gift cards at bulk prices. Upon discovering an alternative way to buy gift cards in bulk, those managers were overjoyed and began searching for agencies on their phone.
Gift card agencies save companies money and minimize the hassle of shopping and fulfillment. Instead of waiting in long holiday checkout lines, you can make an order from the convenience of your office at your computer. Consider using new technologies to offer a greater range of choice in selecting rewards. This can be done through ordering portals and redemption platforms, like our Engage2Reward® Ordering Portal.