Plastic Gift Cards Market Analysis - How They Can Bump Up Your Profits

Plastic Gift Cards Market Analysis - How They Can Bump Up Your Profits

Does your business offer gift cards? Many companies, especially small with limited time to spend on administration, look short as another administration fee and a system they do not have time to drive, check and assess. The reality is that card printing can actually make you much more money than the cost of the product or administration - heres how.

Gift cards offer extra choice

If you have ever met the dilemma of which products promote leading to a presenting season (Christmas, Mothers Day, Fathers Day, Easter etc), you can offer cards that solve it for you. They offer the customer a method to customize his gift without risking anything completely inappropriate. For the business owner, the plastic gift card design solves the dilemma of whether to advertise your best-selling product, a new up-and-comer or something that is underperforming. You can simply market your store as a brand - create an atmosphere and experience surrounding it, and expect gift card sales based on it.

Gift cards encourage extra expenses

Research shows that when customers spend a gift card, they almost always spend more than the cards nominal value. This is a fairly understandable method - they feel that they get many different products for just a few dollars from their pocket. Not many people are proud to fork an extra $ 5 for something they like. The more plastic gift cards you sell, the more your profits will be affected positively by this little quirk of human nature.

Research shows that spending 20% ​​more than nominal value is the average - not an external fall. Plastic gift card manufacturing can pay off quite quickly!

Gift vouchers encourage different timed expenses

Research found that 40% of all purchases made with plastic gift cards occurred before Christmas, beginning of December. Merchandise is usually fully priced - and you have plenty of staff to handle the extra load - this is a good time to increase sales.

The remaining portion of gift card card customers, approximately 60%, redeems all or part of the cards value in the January-February period. This is a time when sales and operations are slow everywhere. While you are not making any cash from redeeming the cards nominal value, keep in mind that people spend an average of 20% more than their nominal value on their gift cards! Just having people in the store can provide exposure and oral promotion to your campaigns at the time as well.

Plastic gift cards give your mark up to the quality end of the spectrum

Lower prices are not always better, in the eyes of the customer. Sometimes customers are expected to pay more for an item, and if priced under what they expect, they will not pay it. If you have run low margins on your warehouse, hope you can bring people to your store, you can sacrifice dollars at checkout for a small reason. Record the image of your store to match the margins you would prefer to pay on your inventory, and your winnings can jump. Using plastic gift cards rather than paper, handwritten is a great way to get that picture up. Plastic gift card card manufacturers can tag your cards with your own logo and product images, and also include a repeat business bid to encourage people to come back to the store after they have spent the card at the beginning.

If you have ever wondered whether custom printed loyalty cards would increase your business like a local store, chain or store, there are three reasons why plastic loyalty cards can increase revenue for your business. The answer is a soothing yes. There are reasons for that.

The three reasons are: Loyalty / gift cards increase the amount of individual sales by an individual customer, You take back the individual customer more often and increase the number of customers. There are hardly any corners of earning revenue as a well-made custom printed gift card would not cover. Lets see how. After reading this article, you should have a better idea of ​​introducing plastic loyalty cards in your company.

© Copyright 2019