Trends Gift Card Promotions and Preferences – Part 1
Gift cards continue to be popular as the go-to option for gifting, offering recipients the freedom to choose their own desired items. In recent years, various promotional strategies have emerged to enhance the appeal of gift cards, attracting both buyers and receivers. Let’s take a closer look at the most popular gift card promotions according to a survey conducted by Fiserv Q22023:
Bonus Gift Card with Purchase:
The majority (74%) of respondents expressed their preference for receiving an additional gift card as a bonus when making a purchase. This promotion adds extra value to the gift card, giving buyers and recipients a pleasant surprise.
- Bonus Amount Added to Gift Card:
Similarly, this approach involves adding a bonus monetary value to the gift card. It appeals to consumers who enjoy receiving more than they paid for, making the gift card more enticing.
- Dollar Amount Discount on Gift Card Purchase:
Another popular promotion is offering a discount on the purchase price of the gift card. This strategy encourages consumers to buy gift cards by providing them with savings on their purchase.
- Free Item with the Purchase of a Gift Card:
Some gift card promotions go beyond monetary incentives and offer a free item along with the purchase of a gift card. This appeals to consumers who appreciate receiving a little extra when they buy a gift card.
Sustainability is an increasingly important consideration for consumers, and this extends to gift cards as well. The survey revealed several interesting findings regarding sustainability preferences:
- Returnability of Used Gift Cards:
Half of the respondents expressed their interest in the ability to return used gift cards to a recycling program. This shows a growing concern for reducing waste and ensuring responsible disposal of gift cards.
- Gift Cards Made from Recycled Materials:
Nearly half (46%) of the participants indicated their desire for gift cards to be made from recycled materials. This preference aligns with the broader sustainability movement, emphasizing the importance of using eco-friendly materials.
- Plastic-Free Physical Gift Cards:
Consumers are increasingly conscious of the environmental impact of plastic waste. Consequently, 45% of respondents expressed their interest in physical gift cards that don’t contribute to plastic waste, suggesting a desire for alternative materials.
As the gift card industry continues to evolve, it’s important for businesses to stay attuned to these trends and consumer preferences. Part Two coming soon ….