With the holiday season behind us, retailers are applying their observations about consumer and digital gift card purchase behaviors to 2016 and upcoming gifting occasions. Here are four observations merchants can put to use in the months ahead: 1. Gift cards remain in high demand: According to the National Retail Federation, gift cards were the most…
Ben Kaplan
Gift cards are a tried-and-true strategy for influencing purchase decisions and, as such, have proven to be a lucrative revenue stream for small and big-box retailers alike. Today, gift cards take many forms and represent more than $110 billion in sales. Tomorrow, however, holds something much bigger for retailers with gifting programs. There's a "branded currency" revolution on the horizon; those retailers that can make the transition from a traditional gift card program to a comprehensive branded currency strategy will have the opportunity to increase online and in-store sales, drive new customer acquisition and grow loyalty.
