GiftCard Partners Blog

The first trulyomnichannel auto repair system is upon us as AutoZone partners with Openbay. The partnership, launching this month, will allow consumers (beginning in the Boston area) to comparison shop service and maintenance packages with local repair shops for their specific vehicles. The service combines AutoZone store parts with Openbay's online marketplace for auto repair. Learn more details about the partnership on Openbay's blog. The partnership enables true omnichannel retailing from both parties, combining the online comparison shopping enabled by Openbay and the in-store experience consumers have come to know and depend on for both parts and service from AutoZone.

When it comes to millennials and technology e-gift cards are growing in popularity. A recent article from Loyalty360 discussed how millennials prefer e-gift cards to their plastic counterparts. 14 percent of millennials have given or received an e-gift card in the past year compared to only 7 percent of 30-49-year-olds and about 8 percent of 50-64-year-olds who have given or received an e-gift card. So why do millennials prefer e-gift cards? While not specifically asked if they preferred e-gift cards over plastic, millennials did offer a hint; millennials are twice as likely to have lost a gift card before they could spend the entire balance. About 40 percent of millennials have admitted to losing a gift card. E-gift cards are appealing to those who worry about losing cash. They are harder to lose since they exist in your email as opposed to a physical piece of plastic that may never make it into your wallet and are easier to track. E-gift cards also save time on the part of the 'gifter' as they can be purchased with just a few clicks from your computer, tablet, and mobile device from anywhere at any time. Many retailers can scan and redeem e-gift cards directly from your mobile device, some retailers even offer rewards programs for doing so. Electronic gift cards are growing more common for retailers. 59 percent of gift cards are available electronically, up from 41 percent back in 2010. It's also good to know that most retailers will also accept electronic gift cards (as well as plastic) online, great for the online shopper to complete their whole transaction seamlessly online without having to open their wallets. While for some, e-gift cards may seem like an impersonal gift, many retailers are combating that by offering personalization to electronic gift cards. Multiple designs,  personal photos, and videos can all be uploaded directly to the e-gift card to really improve the buying and giving experience. Here's what the Washington Post had to say on, "Why millennials prefer electronic gift cards."

Employee wellness initiatives have taken many forms over the last 5-10 years. They have ranged from biometric screenings to company exercise groups to discounts on health insurance. Each company does it differently, depending on what is most effective for their specific organization. But according to this Washington Post article, employee wellness is taking a new turn and it's compelling for both employers and employees. Employee wellness is becoming part of company culture. With a growing millennial component to the American workforce, employers are focusing on enticing younger employees with perks and attractive cultural components in the work environment. Wellness programs are shifting to be a component of these types of company culture and positioning efforts. So what does it mean for employers? How can they measure ROI when they take tangible metrics and transition them into the "intangible benefits" so important to difficult-to-please millennial? Here are a few ways:

Small business incentive programs are growing rapidly. According to a recent article from Incentive Magazine, research conducted by the Incentive Federation revealed that a substantial amount of small businesses are now using rewards and recognition programs. The study asked businesses with at least $1 million in annual revenue about their goals, programs, awards they use, and how they measure whether or not their incentives are successful.  Most of the smaller firms that responded to the survey spend less than $50K annually on sales incentive programs, whereas firms with revenue of over $10 million spend significantly more annually on their incentive programs. When it comes to the type of reward, electronics came in as the most requested merchandise reward, followed by food and beverage and apparel. Other popular choices were sporting goods, luggage, watches, and home decor.  

According to Incentive Magazine, the number one reason employers and managers give for not practicing employee recognition is time. They don't have time, they can't find the right time, it's not effective if you do it too much or too little. There are a million reasons. But the reality is, employee recognition shouldn't take a lot of time, and with some planning and scheduling employee recognition can extend the time employees remain loyal to their organization.
1). Timely Employee Recognition- If an employee does something worth recognizing, make sure you execute on employee recognition in a timely manner. If you wait too long the recognition becomes stale and ineffective. Ensure ROI and trophy value for rewards by recognizing employees as soon as possible.
2). Doesn't Need to Take A Lot of Time- There's a misconception in the market that employee recognition is time consuming. However, if you have a regular recognition program, and rewards on site, recognition only needs to take a few minutes. Whether it's public or private employee recognition, it doesn't need to be a time suck.
3). Deliberate Frequency- Make employee recognition programmatic. That way employee expectations around recognition and rewards are set and can be met and/or exceeded. From a time perspective, deliberate recognition builds recognition into your calendar, rather than being disruptive. Making time for employee recognition will ensure ROI into any program that is approved and endorsed by management.