How Valuable Are Gift Card Programs?
Jun 5, 2017
Plastic gift cards are some of the most popular, in-demand items from retailers, restaurants, and hotels. Just how much can they benefit your business? The numbers tell a clear story.
Gift Card Statistics
Since 2015, more than 93 percent of American consumers had either given or sent a gift card to someone. This kind of market saturation is the stuff of an advertising executive’s dreams. In addition to sales revenue, the reach and value of marketing that comes with a gift card program are essentially priceless.
Broken down by category, you can see the percentage of gift card purchases each market sector receives:
- Restaurants: 34.8 percent
- Department Stores: 34.4 percent
- Prepaid gift cards: 22.7 percent
- Coffee shops: 20.1 percent
- Entertainment: 17.2 percent
Businesses in these categories stand to benefit substantially from gift card and loyalty key tag programs. You may already have a gift card program in place, or may just be considering one. To understand just how much plastic gift cards can improve your business, consider the following statistics:
- Gift cards are the most requested holiday gift, and have been for ten years in a row.
- Gift card sales volume is projected to reach more than $160 billion by 2018.
- 65 percent of gift card recipients spend an average of 38 percent more than the value of their card when they redeem it.
You can take advantage of your brand’s marketing and revenue potential by getting your plastic gift card program off the ground, or improving it with customized cards. Contact a representative at Plastic Resource today to learn how you can create a custom key tag and loyalty program for your business.
