How To Increase Gift Card Sales – 6 Merchandising Tips
Gift card sales accounted for $130 billion in revenue last year, so it’s safe to say that it is an important sales channel that warrants some of your attention. Just like everything else in your retail store, gift cards are a product and require some form of merchandising in order to maximize sales. Here are a few ways to get your gift cards noticed and into the pockets of your customers:
Location. Location. Location. Think like a consumer. If you walked into a store, where would you head to purchase a gift card? Right – in the checkout area. Consumers have come to expect gift cards at checkout, so don’t disappoint. Display your cards in a place that is easily accessible for customers. Hanging cards below the customer service desk (which people stand directly in front of) is probably not the best place if you want customers to see them and access them.
Easy on the Eyes. Make sure the gift cards are visually appealing. If you have multiple cards to display, design a planogram for your employees so that they understand how to display and refill them. Employees should also keep the gift card display neat and faced so that customers can easily find the perfect gift card to purchase.
See the Signs. Use signage, and the words “Gift Card” on your signage, so that they can be easily located. Also, add additional signage around your store to remind customers that you offer gift cards. Signage can come in the form of buttons that your employees wear, a mirror cling in the fitting rooms or a shopping cart sign. If you don’t advertise that you sell gift cards, your customers will assume that you don’t offer them.
All-in-One. Make your gift card area a “one-stop shop” by also including card carriers or packaging in your display. Carriers can be a value-add or an additional purchase. You may also want to display some additional gift card ideas that will build incremental sales, such as a nice folded shirt with a gift card tucked in the pocket.
Give Them Options. Offer multiple card designs. It is no secret that consumers like personalization and this is true of gift cards as well. They want to buy gift cards that relate to either the occasion for which they are purchasing or to the gift recipient themselves. For example, offer plenty of options for popular holidays and celebratory occasions instead of just a basic branded card. More options equals more chances of winning business over your competition. Also, consider adding card designs that speak to the hobby or profession of the recipient. A gift card with an image of a man fly fishing may instantly trigger a purchase for someone looking for a gift for their dad who is, you guessed it, an avid fishermen.
Been Seen. Use end caps and free-standing displays to gain extra visibility for your gift card program and elicit impulse purchases.