Temecula Businesses Win With Gift Cards
The consumer is constantly evolving and changing their appetite when it comes to shopping preferences and habits, but one trend that has held steady is that consumers simply love gift cards. Gift cards work great as personalized gifts because they essentially eliminate the possibility of the gift card receiver not liking or exchanging the item. This form of consumer spending is easy on the both the shopper and gift receiver, while also generating large amounts of revenue for the merchant. Especially, around the holiday season where gift card purchases tend to peak in sales. Statistics show that retail gift cards are a great way for businesses to capitalize on consumer interest and spending, making it imperative that all businesses no matter how big or small take advantage of this unique form of sales. Here are the top 5 reasons why your Temecula Valley business should consider offering gift cards to customers.
1. Gift Card Sales Are Easy
A company doesn’t need to be Red Robin, Wal-Mart or one of the clothing store giants in the Promenade Mall to offer gift cards. In fact, with resources at the local level every small business can easily offer gift cards to their customers. If a local automotive repair shop, fashion boutique or Thai restaurant doesn’t want to invest in flashy customized gift cards they can work directly with an online partner who specializes in gift card sales. Many of these gift card websites won’t even charge an upfront cost or insertion fee, only taking a small percentage of each gift card that is sold on their online platform. Temecula Gift Cards is one company at the local level that can not only create a digital gift card for any Temecula business but also help promote it to online shoppers throughout the Temecula Valley!
2. Avoid Exchanges
When holidays, birthdays or special events come around it can be a challenge for the shopper to pick out a product, item or service that is exactly what the receiving party wants or needs. Clothing can be the wrong size, people have different tastes in food and most people don’t need a second toaster. Gift cards essentially eliminate exchanges because customers who purchase them give the recipient the ability to have some choice in the products or services they want to buy. Businesses can avoid the costs associated with processing and handling returns by offering indecisive shoppers an alternative with a gift card.
3. Expand Marketing Efforts
Displaying a gift card in your store or restaurant is a good way to let customers know they can purchase them, but this only promotes the gift card to your existing customer base. The goal for any small business is to not only keep returning customers happy, but also attract new customers. That is another benefit of gift cards: they can also be used as a marketing technique. Small businesses in the Temecula Valley can reach a greater audience by partnering up with local Temecula coupon, daily deal or gift card companies that will feature your businesses’ name, logo and services offered in a description beneath the promoted gift card image.
4. Unredeemed Balances
Getting exposure and avoiding the costs associated with returns are reason enough that every Temecula Valley business should offer gift cards to customers, but the primary reason large companies are in love with gift card sales is because of something known as additional interest income. An example of additional interest income would be when a consumer purchases a gift card you as the business owner receive cash in hand. Therefore, even though that money technically hasn’t been earned until the shopper comes in and redeems the gift card, the business can deposit the cash in hand into an interest generating account! Large corporations understand this interest can have an impact on revenues, adding profit to the business.
5. Additional Sales
When consumers purchase a Temecula daily deal or gift card for a pre-determined amount it is rare that the person using the voucher or gift card for redemption of goods/services uses the exact amount available to them. For example, a couple goes to a local Irish restaurant based on the fact that they have a $25.00 gift card for food to the establishment. However, once they are there they order some fish & chips as an appetizer, Shepard’s pie for dinner and wash it all down with a couple cold pints of Guinness. The bill comes out to roughly $40.00. That means not only did the patrons select the restaurant based on the fact they had a gift card, but they also spent more money than they had available on that gift card! This additional sales revenue generated from the initial purchase of a gift card is just another bonus!
Offering gift cards directly to your customers and working with a local Temecula coupon, daily deal or gift card company is the best way to capitalize on the financial and marketing benefits of retail gift cards. Create a simple way for customers to offer gifts to loved ones, expand your marketing reach, avoid product exchanges, encourage return shopping and gain interest with an influx of cash flow. Temecula Valley businesses should take advantage of any and all tools or strategies to increase sales or exposure if they want to have long-term success. Gift cards are one of those easy to launch sales and marketing strategies small business in Temecula can utilize that are not only cost-effective, but also essential to meeting the needs of the changing consumer.