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The B2B Gift Card Market is Changing, Are You Keeping Up?

The B2B gift card market is ever changing, especially in the Business-to-Business or B2B sector of the market. The B2B sector, which includes third party gift cards, loyalty and incentive programs, corporate wellness and more, now stretches to make up a significant piece of the gift card market.

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Corporate Summer Gift Card Ideas for 2024

As the days get longer and the temperatures rise, summer presents the perfect opportunity to show appreciation to partners, program members, employees, and colleagues. Gift cards are increasingly becoming the go-to gift, offering flexibility and the ability to choose the perfect present. In 2023, the Retail Gift Card Association (RGCA) reported that 70% of shoppers planned to buy gift cards for special occasions like Father’s Day, weddings, graduations, and birthdays. If you're considering giving a gift card this summer, here are some top ideas that will make your recipients' summer even brighter.

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Employee Wellness Is Now Company Culture

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:

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Summer Gift Cards are the Go-To Gift

Summer gift cards are gaining popularity in the gift market this spring and summer. As individuals look for gifts for moms, dads, grads and newlyweds, gift cards continue to be the catch-all gift that's easy for the gifter and always a pleasant surprise for the giftee. The  infographic below from the Retail Gift Card Association reveals that 80% of gifters want their recipients to have the option to redeem online or in-store, showing that omnichannel flexibility is an overwhelming consumer concern. Since gift cards are flexible in nature, consumers want to ensure that recipients have as much flexibility in how and where they redeem as they do in what merchandise they redeem for.

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Gift Card Popularity Continues to Rise

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:

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