From large chain stores to nail salons to your local hardware store, more and more establishments are offering gift cards as an option for their customers. Not just for the holidays anymore, gift cards are a great way to increase revenue and profits for all retailers, restaurants and other merchants year round.
Some of the many benefits that gift cards can bring to your business are:
• Increase Revenue Profits And Cash Flow
• Acquire New Customers
• Upsell Card Recipients At POS
• Increase Impulse Purchase Purchases
• Reduce Cash Back On Returns
• Build Your Awareness Through Word Of Mouth Advertising
So how does it all work?
Well let’s say you buy a packet of 100 gift cards customize customized with your logo and brand in branding. If your average gift card sale is $50,that’s $5000 in revenue you can generate. If you run at an average of 50% profit margin, that is $2500 of pure profit in your pocket. In many cases, card recipients add their own money at the point of sale, increasing your revenue even more!