Gift card solutions provide a one-size-fits-all option for gift-giving. The challenge in today’s retail environment, however, is that consumer behavior isn’t “one-size-fits-all.” Consumers shop in-store, online, at kiosks, and on mobile apps, and they expect to be able to use gift cards however they engage.
Merchants need omnichannel gift card solutions to meet consumers’ demands for buying custom gift cards for others or using gift cards for personal purchases. According to a Fiserv survey, four out of five consumers plan to purchase gift cards this year. In fact, with the holiday season in full swing, 58 percent of consumers plan to buy more gift cards than they have in the past due to inventory shortages of physical products.
Help Your Clients Drive Sales, Build Loyalty, Find New Revenue Streams
As trusted advisors, ISVs, VARs, and other solutions providers can help their clients grow their businesses with a gift card revenue stream. However, they can also use gift cards in other ways, such as campaigns centering on gift card promotions. This year, 62 percent of consumers plan to take advantage of a gift card promotion:
- 33 percent respond to promotions that add to the balances of their own loyalty cards
- 28 percent prefer a bonus gift with the purchase of a gift card
- 24 percent prefer a free item with their purchase
Merchants offering custom gift cards have greater flexibility to meet their customers’ demands for options such as employee gifts:
- 90 percent of consumers view gift cards as an appropriate reward for employees
- 75 percent say a gift card from their employer allows them to buy what they want
- 79 percent say gift card incentives make them feel valued
Omnichannel and Custom Gift Cards Enable Creative Offerings
Your clients that have used traditional gift card solutions in the past may not be aware of the options they have by upgrading to a custom, omnichannel gift card system – and implementation can be just as easy as a traditional solution. With a modern system, your clients can:
- Combine gift and loyalty rewards
- Allow consumers to spend gift cards in-store or online
- Process with or without the card being present
- Integrate their gift cards with mobile wallets
- Feature different designs for different occasions
- Allow consumers to buy gift cards online or in-store
- Deliver cards virtually or as a physical card
In addition to this functionality, custom gift cards allow merchants to order the physical cards that they need when they need them without any friction. Intuitive merchant-facing tools also provide custom templates and design services (ideal for corporate partnerships and branding cards to promotions) as well as real-time reporting and multi-location management.
Capture Gift Card Sales Everywhere
Consumers have become increasingly omnichannel, so they expect gift cards to support the omnichannel experience. When merchants implement custom, omnichannel gift card solutions, they can capture gift card sales on every channel:
- At the Point of Sale: The traditional physical gift card is still a desirable purchase option, particularly for giving inside a greeting card. However, consumers may want to send virtual cards to recipients who will store them in mobile wallets and use them in contactless payment transactions.
- Online: With the rise of e-commerce, consumers desire the ability to purchase gift cards online and have a virtual or electronic card delivered to an email inbox.
- For alternative gift-giving: Modern gift card solutions allow consumers to purchase and send a virtual card via a text message or QR code. The link opens an online page where the recipient can select their card and receive a link to redeem it.
- For multiple merchants: Merchants with multiple locations, brands, or partnerships can sell gift cards that allow consumers to use them anywhere and provide the credit to the right location upon redemption.
- For multiple merchants: Merchants with multiple locations, brands, or partnerships can sell gift cards that allow consumers to use them anywhere and provide the credit to the right location upon redemption.
Deliver the Omnichannel Gift Card Solutions Your Merchants Need
The ease of gift card purchases and use can be a competitive differentiator for your clients. Merchants need the ability to elevate their brands with custom gift card solutions and omnichannel functionality that allows consumers to purchase physical and digital cards from any platform. Additionally, gift card solutions must integrate with payment solutions to provide the best customer experience and cross-platform redemption.
