According to the CEB TowerGroup report gift card sales are projected to reach $160 billion by 2018. But why are gift cards growing?Ease
It’s never been easier to pick up a gift card. From the in store stands for consumers through to SVM Global who can offer gift cards in bulk for businesses, it’s easy to pick up the phone or grab a gift card whenever the need strikes.Growing ranges
From cards for individual retailers through to cards for shopping centres, multiple retailers and charitable contributions, there is a wide range of choice.Reward and recognition growth
As we come into 2017, there’s a real focus on rewards and recognition within businesses. As recruitment surveys show that people would leave for a role that offered more recognition, businesses are looking to Gift Cards to incentivise. This could be social corporate responsibility programmes, sales activities, or they could be used as a data collection incentive.People ask for Gift cards
Time and time again people ask for Gift Cards. In the 2016 Global Gift Card survey by SVM Global of over 300 professionals, over 80% of people said they would be happy/ very happy to receive a Gift card. Of the people who had purchased a Gift Card in the last 12 months, 17% of people had purchased after being asked specifically for a Gift Card.
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