Today I saw one of the largest racks of gift cards at Kroger and it totally caught my attention, because of the great variety they had.
Some interesting facts:
- According to Google, the first gift card was invented by Blockbuster in 1994.
- Most gift cards range between $25 USD up to $500 USD.
- The gift card industry as a whole expected to reach $160 billion by the year 2018.
- Gift cards can be used for online stores (people are getting used to buying more online).
As a customer
It is a great experience because it gives you the opportunity to choose.
As a business
- It is an interesting strategy to implement if you´re willing to expand your brand/business and the distribution of your products/services.
- It is also a fast and easy way to reach new markets. Gift cards nowadays are everywhere (mostly in all stores).
- It doesn´t cost much! There are several companies that do gift cards for cheap prices, you just need to get creative with the design!
- People love giving! 93% of American consumers have purchased a gift card at least once.
- Get noticed! It is a great way to get new customers. Just think about this…If your gift card is at a supermarket, those people are already buying and consuming, so…it is easier to catch their eye with a nice design and a great gift for their beloved ones, rather than waiting for a customer to arrive at your local business.
THINK OUT OF THE BOX…
Some companies may say that their product is high quality and that they shouldn´t be at a rack at a supermarket…but I would say to them what a mentor used to tell me:
IMITATE FIRST, INNOVATE LATER…
Why don´t you try… the art of giving…and being smart 🙂
So… I encourage you to think about this idea for your business.
It is never too late to start thinking differently and with a larger vision.
My top 5 Gift Cards: