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November 21, 2023
With the holidays quickly approaching, now’s the time to prepare for the busiest shopping season of the year. Whether you own a small retail store or local restaurant, you can boost profits and bring in new customers with the one thing on everyone’s holiday wish list—gift cards!
According to Deloitte, this holiday season is set to be more extravagant than 2020, 2021, and 2022 as life returns to pre-pandemic levels:
While consumers are ready to spend again this holiday season, inflation is still a concern and is set to drive spending habits:
Once again, gift cards are topping wish lists this holiday season. According to Deloitte, many consumers plan to buy fewer gifts this year but spend more on gift cards (around $300 vs. $217 in 2022).
Civic Science provided statistics that reveal more about who is buying cards and why:
There are plenty of tried and true gift card tips that apply all year long, but this year, Fiserv offered some data to help hone your holiday strategy:
Remember to place gift cards where consumers expect to find them and be sure to position them alongside items (like envelopes) that buyers often want at the same time. It will also make sense to order plenty of cards in $25 and $50 denominations!
With so many reasons to offer gift cards all year round, but particularly at the holidays, turn to eGiftSolutions®.
eGiftSolutions® also makes it easy to switch from your current gift card program—and even offers a free QuickStart™ Program. Get started today!
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