GiftCard Partners Blog

Wellness challenges are becoming all the rage at workplaces across the country and are encouraging employees to become happier, healthier, and more energetic at work.

Requiring little to no investment, the challenges help to promote a supportive, positive climate of camaraderie and fun.

A recent study from the Incentive Research Foundation, Engaging Outside Program Support for Incentive and Recognition Programs, is full of ideas on how to use outside firms to optimize your incentive programs this year. There are a number of ways to go about outsourcing an incentive program, from working with gift card providers as a cost effective reward solution, to having your program fully administered by an outside firm. Here are a few unique ways to outsource efforts, while keeping costs low and increasing your program(s) success rates:

Throughout 2015, many companies were faced with similar issues around engagement, recognition, acquisition or retention, wellness, and more. As you take the time to evaluate efforts, here are a few trends that speak to the integral part incentives and rewards play in the success of your program in 2016.

2015 gift card sales in the U.S. reach $130 billion, a 6% increase over 2014.

2015 gift cards sales are just the beginning as gift card sales are predicted to reach $160 billion by 2018. E-gifting had the largest increase, rising to 26% in 2015, representing $7.1 billion in volume. E-gifting is also expected to support the overall payment industry growth. Long-term prospects for e-gifting remain promising as more payment services become mainstream and plastic cards make the switch to digital.

What is third party distribution?

You have seen third party distribution when you’ve walked past the gift card displays at your grocery or pharmacy but may not know it by name. Third party is a common term in the B2B Gift Card Industry. It’s the opportunity to sell gift cards in retail locations that are independent of the brand represented on the gift card. By definition, third party sales refer to the three companies involved when selling to the consumer: the brand on the gift card, the company that sells the gift card, and the company that manages the operational component of the transaction. For most gift cards programs, third party represents their largest sales channel and the greatest opportunity for consumer awareness and marketing. Why’s this? Consumer traffic!