Tag: Gift Cards

  • Marketing Tips for Selling More Valentine’s Day Gifts

    February has begun. The month has a special day in it, Valentine’s Day, So, the month’s arrival brings the vibe of love with it.

    It is not just celebrated as a day; the occasion is celebrated for an entire week. It has Chocolate Day, Teddy Day, Rose Day, and more.

    This is the time when everyone is looking for gifts to give their loved ones. All this makes for a perfect opportunity for getting businesses.

    Today, the markets of gifting are super wide. Be it online or offline, one can find a variety of gifts everywhere. So, it is important for businesses to indulge in ways to stand out from the rest.

    About Valentine’s Day
    Tips for Selling the Valentine’s Gifts

    About Valentine’s Day

    The day is celebrated every year all around the world on the 14th of February. It is the day to celebrate love. The history of it ages back way too long than we could think of.

    The day is also known as Saint Valentine’s Day. St. Valentine was an actual person who gave birth to the romantic concept for the day.

    It was back in 269 A.D.; a Roman priest was in jail. He was about to be put to death. Before his execution, he wrote a letter to the love of his life. The letter ended with ‘From your Valentine’. This was the root that bloomed into the tradition of sending cards and gifts to lovers on this day.

    The priest died on 14th February. Many years later, Pope Gelasius declared the day as St. Valentine’s Day. It was in the 1800s that this day started gaining popularity in the world. People began to celebrate the occasion with cards and gifts.

    It took several thousand years for the day to gain the popularity it has today. At present, the day holds great importance in people’s lives.


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    Tips for Selling the Valentine’s Gifts

    It is a day of celebration for many and for some, it can be a day to make fun of. In both ways, the day holds significant importance for everyone.

    When we think of this day, we also think about gifts. It is the time when almost everyone is looking for something to gift their loved ones. It is a great opportunity for the businesses in the market. But at the same time, businesses need to know how to take advantage of this opportunity.

    So, here are certain tips for selling the gifts during Valentine’s:

    Dip in the Theme

    This is the most important thing to consider while selling gifts. The day represents and celebrates the bond of love. So, the first thing that every business must do is to dip into this theme.

    Try to showcase your products in a way that represents the idea of love. Add the red colour, some hearts, and make it look like it is made for Valentine’s. If you have a physical store, make sure to add some decorative elements to show the theme.

    For example- If you are a bakery, you can make customized heart-shaped cakes during the season. This shows that you can cater to customers’ needs according to different occasions.

    Discounts and Freebies

    Discount on Valentine's Day gift
    Discount on Valentine’s Day gift

    Almost everyone is looking for gifts during this time. One thing that customers love is discounts. Along with this, there is another thing that makes people happy that are free gifts.

    It is quite obvious that you cannot sell the gifts for free. So, it is time to opt for a mid-road. This is to offer discounts to your customers. Be it 5 or 10%, make sure to offer some discount on your products.

    Another popular thing is to add in a small free gift. For example, you can ask customers to make a purchase of a certain fixed amount and offer a free gift. You can also add some chocolates with every sale for a limited period of time.

    Encourage Pre-orders and Early Shopping

    Valentine’s Day shopping is simple when you can grab some chocolate or flowers from any store, but it’s even easier (and less stressful!) to order gifts in advance. Encourage your customers to plan ahead by promoting products with a reminder to pre-order gifts for timely delivery on Valentine’s Day. Offer a discount code or other incentive to make it more attractive.


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    Offer Free Shipping

    When planning your Valentine’s Day campaign, focus on the right audience and timing. Target customers who are likely to buy, and choose the best time to send your messages—like when they’re relaxing at home watching a game. Offering free express shipping ensures their gifts arrive on time. If they didn’t respond to your first message, set up a reminder campaign to let them know about the free shipping and that the offer is ending soon.

    Include the Singles

    This is the season of love. But love doesn’t always have to be in a romantic sense. It can be towards friends and oneself as well. So, it is important for you to keep your strategies in a way that also includes the singles.

    Keeping the marketing only towards the couples is not a good idea. There are so many people out there who don’t have a partner to celebrate the day with. So, when you do your marketing, make sure to keep it relatable for all.


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    Event Organization

    Everyone loves the events on special occasions. This is a great strategy to increase your sales of gifts during the festivities. You can organize a big or small event depending upon your preference.

    For example- you can organize a fun competition and give your gift as a prize to the customer. In this way, you will attract more potential customers towards yourself. You can also conduct online polls or giveaways on social media.

    It is a lucrative marketing strategy that can give a great boost to your gifts’ sales.

    Personalized Gift Cards

    Valentine's Day gift cards
    Valentine’s Day gift cards

    When you add a personalized touch to a gift, it becomes more special. During this season, you can add on a personalized card with every gift sold.

    You can make a personalized card on behalf of the person gifting for their loved one. Adding this personal element makes your gift stand out from the rest. Thus, helps you to gain more popularity and customers.

    Keep Updating Your Listings

    Another important tip to sell more gifts this season is to update your listings. You should add keywords related to the day in your descriptions, titles, and tags. This will help buyers to find you easily on the internet.

    This digital tip can help you appear in more searches. Hence, you gain more potential buyers for your gifts.

    Apart from the tips mentioned above, it is important for any business to start planning early. It is the time when you need to get your work out there for the people.


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    Conclusion

    Valentine’s Day brings love and celebration with it. Along with this, it brings more work to the businesses. It is a great opportunity for businesses that want to take advantage of the festivities. This is the time when various different gifts get sold. For example – flowers, jewelry, clothing, fragrances, customized gifts, etc.

    So, it is important for every business to go along with the theme of love. It is time to make your business appear more special by making your customers feel special.

    FAQs

    What to sell on Valentines Day?

    Some of the best Valentines Gifts are:

    • Flowers
    • Soft toys
    • Chocolates
    • Perfumes
    • Jewelry
    • Greeting Cards
    • Electronic Gadgets
    • Photo frames

    What is the most sold item on Valentine’s Day?

    Red roses are the most sold item for Valentine’s Day.

    Why is Valentine’s Day celebrated?

    The day is celebrated on on February 14 to honour the early Christian martyr named Saint Valentine. The day is associated with tradition of courtly love.

  • Exploring the Rise of the Gift Card Industry

    A prepaid stored-value money card, issued by a retailer or a bank that is used as an alternative to cash, for purchases within a particular store or related businesses is known as a gift card. They can generally be redeemed for purchases at relevant retail stores and, often, be subject to fees or expiry dates. Such gift cards are given by individuals to friends or family members in place of an object as a gift. They are also given by employers or organizations to their employees as rewards linked to either festivals or performances. There are generic gift cards available, usually issued by banks like American Express or even Visa, for cashback marketing strategies. Other companies like airlines, cruise ships, hotels, theme parks, and restaurants also offer gift cards in an effort to earn repeat business.

    History of Gift Cards
    Gift Card Market Insight
    Factors Impacting the Growth of the Gift Card Industry
    Advantages of Gift Cards
    Areas of Concern for Gift Cards

    History of Gift Cards

    Gift Certificates were the predecessor of the more modern gift cards. They were first invented in the 1930s by department stores. However, gift certificates were available to only limited customers, and that too only on request. Gift certificates gained popularity in the 1970s when McDonald’s first ran the campaign by giving out Christmas Gift Certificates. The trend caught on quickly with many stores, restaurants, and retailers joining the gift certificate bandwagon.

    However, as beneficial as gift certificates were, there were a few issues attached to them. The process of issuing and redeeming gift cards was time-consuming and there were a lot of fraudulent activities which resulted in retailers losing a large amount of revenue. It was in the 1990s that gift cards entered the market that addressed the issues faced with gift certificates.

    The Smithsonian magazine states that gift cards were first produced by the luxury departmental store Neiman Marcus in 1994. However, they did not market them to their consumers and hence, Blockbuster is officially considered the first company to market plastic gift cards to the masses. They test-marketed them in 1995 and launched them in the USA the next year. These gift cards replaced Blockbuster’s gift certificates and were processed by Nabanco of Sunrise, Florida.

    From then, the gift card industry witnessed significant growth as the concept of gift cards extended to different renowned brands. Many other retailers adopted the gift card program in a bid to remove their gift certificate programs. Issuing cash cards instead of cash for non-receipted returns became a popular practice with merchants. In the year 2001, Starbucks was the first company to launch reloadable gift cards.

    Gift Card Market Insight

    Gift Card Market Revenue Worldwide

    The global gift card market size was recorded at USD 437.78 billion in 2020. It is estimated to grow at a CAGR of 15.4% to reach a market size of USD 1396.01 billion between 2021 and 2028. According to regional market analysis, during the same period between 2021 and 2028, the Asia-Pacific Gift Card market is predicted to grow by a CAGR of 16.0% to generate a revenue of USD 301.54 billion. Between 2022 and 2027 India’s gift card market is expected to grow at a CAGR of over 19.1% to reach a market value of USD 93.96 billion by 2027.

    Factors Impacting the Growth of the Gift Card Industry

    Covid-19 Pandemic

    The pandemic resulted in global lockdowns which in turn resulted in travel restrictions and financial market disturbances. It adversely affected every industry severely disturbing supply chains and production levels. The gift card market was no exception as the focus shifted from physical gift cards to digital gift cards as demand increased due to convenient availability and ease of use.

    Increase in the Use of Smartphones

    The rapid evolution of smartphones has ensured the increased innovation of gift cards. Smartphone penetration has provided customers with flexible and convenient payment options which, in turn, has boosted the gift card market. Modern technology and marketing strategies have created different ways for users to purchase digital gift cards as the industry moves from plastic cards to digital cards.

    Advantages of Gift Cards

    Be it digital or plastic cards, gift cards are a marketing strategy that is beneficial to businesses in multiple ways.

    Raising Brand Awareness

    Gift cards are a cost-effective promotion technique that keeps the brand at the forefront of the customer’s mind. Virtual gift cards can promote brand messages with online customers. As people purchase and deliver gift cards to friends and family for special occasions, the brand achieves higher visibility and more customers. Gift cards work as an effective marketing tool.

    Increased Customer Engagement

    The gift Card program is a customer engagement exercise that not only encourages and builds customer loyalty but also further markets the brand to new potential clients.

    Boosts Sales

    Gift cards have a set specific amount loaded onto them. However, most often, customers will purchase items higher in value than gift cards. It is a bargain for the customer as they pay for only a fraction of the value and the experience leaves them fulfilled.

    Convenience and Reliability

    The digital gift cards available today are reliable and convenient to use. They can be accepted online, in-store or in-app which makes them safe from loss, theft, or fraud.

    Provide Useful Data

    Data is equivalent to money in any business. Gift cards help collect vital customer data as brands learn about customer preferences through their usage.

    Areas of Concern for Gift Cards

    The primary area of concern for gift cards is their lack of security. The case in point was Distil Networks which discovered GiftGhostBot that attacked almost 1000 websites to find gift cards which led to a breach of access to their balance. Additionally, many companies, in an effort to roll out gift cards quickly and cheaply have, inadvertently, overlooked security risks that can allow any shopper to use money that is loaded on another shopper’s gift card. These security threats can prove to be a major hindrance to the gift card market growth.

    Conclusion

    The evolution of the Gift Card industry has been revolutionary. Their functions and benefits are immense. If the concern areas are addressed strongly, this is an industry that is set to grow exponentially in the coming years.

    FAQs

    What is a gift card?

    A card entitling the recipient to receive goods or services of a specified value from the issuer is known as a gift card.

    Who are the top online gifting startups in India?

    Some of the top online gifting startups are Qwikcilver Solutions, Indigifts, Wedtree, BigSmall, Giftsvilla, and more.

    What transactions are permitted by gift cards?

    It can then be used to make any purchase for which payment is made electronically.

    Can gift cards be used as cash?

    You cannot use gift cards to withdraw cash.