GiftCard Partners Blog

Prepaid and gift cards sales are amplified with new activity as technology paves the way to better than expected growth. Mercator Advisory Group recently reported that all segments of closed-loop prepaid exceeded their previous forecasts for 2010. In-store gift cards were forecasted at 4% growth for 2010, but total load volume hit $84.6 billion, up 10% from $76.9 in 2009. The B2B gift card market realizes much of this growth via gift card categories like digital-content (online games and social networking credit) and prepaid mobile; gift cards received more loads for these digital-content activities. Retailers are also doing a better job of integrating their gift cards with loyalty programs and other consumer promotions, which catches the attention of potential incentive and rewards buyers. “Loads on employee and partner incentive closed-loop cards increased 10% and loads on consumer-incentive cards also grew 10%”, states Digital Transactions in their Mercator report overview:
Buoyed by Gift Cards, Closed-Loop Prepaid Grew Faster Than Expected in 2010 “On the whole, what we’re seeing is even the closed-loop market is showing some resilience in the face of the economy,” Jackson says. Consumers seem to be recognizing the true value of their gift cards, and “many retailers are doing a better job of integrating their gift cards with loyalty programs and other promotions, Jackson says. “They’re realizing that gift cards are not just a plastic version of paper gift certificates,” he says. Source:
Digital Transactions: Buoyed by Gift Cards, Closed-Loop Prepaid Grew Faster Than Expected in 2010
 

Canadian small businesses are choosing people over profits, as consumers face the rising prices of everything from food, to gas, and even insurance.  Business owners are saying that they would rather absorb those costs through their businesses, than pass the financial burden on to their employees.  According to the American Express Small Business Monitor small businesses react to uncertain economic times by favoring long term employee and customer loyalty over short term economic gain.  Businesses see their employees as the most important asset to the company, over monetary revenue. Do you think this attitude could or does translate to small business behavior in the United States? Do you feel that the economic climate in Canada is different enough from the United States that small businesses can afford to make a larger investment in their employees? The GCP team found this article particularly intriguing, and are interested in your opinions on this issue, feel free to leave us a comment or tweet us @giftcardpartner.  Looking forward to hearing your thoughts!   For more information check out this
Financial Post article

As employers look for more effective ways to engage their workforce, reduce healthcare costs, and boost morale, corporate wellness programs continue to evolve. One standout example comes from Xceed Financial Credit Union, where leadership built a holistic wellness initiative that blends traditional health goals with community and personal development.

Who doesn’t love a great historical overview of the payments industry? OK, perhaps it’s not a favorite read, but how about in the form of an infographic? Check out this depiction of transactions from 9,000 BC, continuing throughout the history of personal and business transactions. Cattle, cowries, wampum beads, gold…right up to preset day technology.  We’re surprised that gift cards aren’t displayed here, since they are a gifted form of payment, or
in the case of Scrip – simply a retailer-specific form of payment…but perhaps that’s too detailed for such a graphic. Let us know what you think…is the future, implants? Source:
http://www.flowtown.com/blog/

Flowtown - Social Media Marketing Application

The B2B gift card landscape has continued to evolve rapidly, with the first quarter of 2024 presenting new trends and insights that are reshaping the industry. The holiday season of 2023 was particularly robust, exceeding our expectations in both consumer and corporate sectors. This report provides a comprehensive look at the latest trends, statistics, and projections for 2024, based on recent market data and our proprietary survey results.