Know Why Gift Cards are the Best Gift For you and your Customers
What is a gift card?
A gift card is a prepaid stored value money card which is sold out (sometimes gifted as a loyalty reward) by retailers (and e-tailers) as part of a promotion strategy, to lure the recipient for making them a new entrant or return to the store.
Why your eCommerce Store needs digital gift cards with traditional gift cards?
There are several important pillars of a brick and mortar business. But e-commerce is known to capture and confine every module of brick and mortar business into the digital format. If it fails, why would anyone use an e-commerce platform? It is its extensive ability to work in each area of traditional businesses and offer its users the same if not a greater experience.
Digital gift card is one of the major modules of e-commerce nowadays. It holds the upper hand over physical gift cards. Get the Best Gift Card Solution for Magento 2 store.
- Lower or no manufacturing cost
Manufacturing physical gift cards involve a decent amount of cost, from magnetic strips production to the cost of plastic, it only works as an overhead burden for the store, however, there is a slight modification in the flow of the wind as consumers and large retailers are moving towards e-commerce.
Digital gift card has successfully replaced the overhead costing, with a code. The code undergoes the verification procedure and the value appended to it is deducted from the digital card.
- Available in attractive formats
With the help of UI tools and designing platforms, eye-catching e-gift cards can be made. Custom gift cards are way more appreciated than the generic gift cards. You can create your own customized gift cards and manage gift card images at a nominal price on M-Connect Media.
- Ease of accessibility
Digital gift cards hold the quality of easy-to-use and need no extra space for carrying it. E-commerce stores efficiently sell e-gift cards which are stored on users’ phones and tablets. Hence, there is a remarkable rise in its preferences.
- Eradicates the chances of misplacement
There came a phase when customers complained of misplaced cards and couldn’t redeem it. This apparently questioned the proficiency of such cards. Digital codes eradicate the susceptibility of card getting lost.
Why gift cards for your business?
- Economical behavior of gift cards over gift cash
Greenish, hard cash… Or a shimmering gift card? Ask your customers and make yourself a point. It is a conundrum every festive season. It really depends on how your customers want to gift their relatives. The behavioral economics of gift cards over cash is worth a catch. In the case of gift cards, the chances of mindless and rampant splurging are very bleak and plausibility of allocating the resource responsibly increases, contrary to the poorer allotment and frivolous spending of a wad of a green plastic. If you are able to explain the affirming benefits and behavior of gift cards to your clients, you can easily pursue them to buy these cards.
- Easy to buy gift cards
Buying a gift card is a piece of cake, today. They’re mostly sold at the checkout gate of every store. A large group of retailers has been benefited from the easy-to-redeemable cards and I see no valid reason for why wouldn’t you opt it for your e-commerce store.
- Gift cards enhance the profit
Gift cards not only give you a good share of profit but considering the many cards that are forgotten, misplaced, and/or have an outstanding value that is never used, stores can really make a great difference in these circumstances. You can either listen to the grievances of your customers and give them a chance to make a purchase (despite the lost card) and make a virtuous glory for yourself in their eyes or enjoy the benefits of the unused balance. Either way, you are rewarded.
- Gift cards bring new customers
Gift cards also compel the new customers to visit your store who would otherwise not have entered the store. Best of all, in major cases, those who use gift cards end up spending more than the value of a card, magnifying your turnover. The extra sale would be an icing on the cake.
There is no denial of the fact that people are hungry for gift cards. All you need to do is market them sagaciously and bring your product in their radar.