Who Buys E-Certs Anyways?
We know digital gift cards and incentives are popular, based on their ease of delivery and eco-friendly nature, while still providing the same flexibility of a tangible gift card. But what we want to know is who is most likely to buy this new technology? Research conducted by Urban Wallace Associates and sponsored by CashStar provided the GCP team with some insight. In this eGift Card Buyer Study, they interviewed over 6,000 eCert users across a national sample. Here are some key findings: There are 3 different demographic shoppers: 1. Generous Gifter- This is primarily a mom who is responsible for all the family gifting. She works,is part of a two-income household, has children and is very busy. She is looking for an easy way to shop with a personal touch. Giving a gift card or eCert is easy. She spends approximately $35per gift. 2. Metro-Digital Shopper- A young urban professional who is busy, looking for instant gratification, and only shops on-line, via smart-phone or ipad, often on the go. The Metro-Digital Shopper is highly educated, tends to spend over $75 per gift card/eCert and purchases during peak times like lunch time and in the evening. 3. The Grateful Boss- ( This is the segment GCP was most excited about, as we had a little potential for B2B information!) This is typically a front-line manager who wants to provide instant gratification for a job well done. He/She is highly educated, makes over $100K a year, and 98% are married. They tend to purchase gift cards/ecerts an average of 5-7 times a year with an average value of $150- $200! They usually purchase during lunch time between 11 AM and 12PM. The Grateful Boss may have a secret budget for this program, purchase it out of his personal funds, or through a formal motivation program. But in any of these cases it is important to provide quick gratification for the employee and reinforce successful behaviors. The research also discussed that 85% of digital gift cards and incentives are incremental sales over plastic! Which begs the obvious question, why aren’t more retailers using eCerts? Let us know what you think about this by leaving us a comment!
Look for GCP and innovative insights at the IMA Summit
Next week at the Incentive Marketing Association Annual Summit look for GiftCard Partners' Cheif Operating Officer Deb Merkin to moderate a panel entitled: "Challenges of Moving Bulk eCerts/mCerts Through the Distribution Pipeline." The session will discuss the challenges and benefits of eCert and mCert technology and how they can and are expanding the incentive gift card market. Deb will be moderating a panel of industry experts in discussion on this cutting edge topic. The session will take place on Tuesday August 9th from 1:45 until 2:45.
For more information check out the IMA Summit schedule here.
Is Social Clienteling the Future of Retail Loyalty?
This is an interesting topic for our clients (retailers) to follow. When we sell our merchant client’s gift cards into the B2B sector, our client’s wish that they could “know” who the gift card users are. The customer who selects a merchant gift card as reward for doing a great job or through their credit card loyalty program are in fact consumers and therefore, potential brand advocates, and incremental new customers of the future. The consumer who redeems for a gift card is one
As Unemployment Drops, Employee Retention Becomes Crucial
This interesting Canadien article pointed out a seemingly obvious but interesting point. As unemployment rates drop employees gain an advantage over employers in terms of the job search. Employers find during these times of transition, when the unemployment rate is dropping and employees tend to start to look around the job market, that they need to ensure that their employees stay happy. How to keep employees happy? Incentive programs! A poll of 429 businesses found that more often than not, business owners count on employee incentive programs to draw and maintain motivated employees. Increased employee motivation is the top priority of 88% of respondents. Gift cards are an incredibly effective way to motivate your employees. They are easy to administer and use, they hold trophy value, and show true thought when given from employers to employees. How high on your priority list is employee motivation this year? How do you incent your employees?
For more information on employee motivation in the coming year click here.
Potential Pitfalls of the Daily-Deal
Daily deal sites are increasingly popular with consumers across the country, however they are posing increasing problems with the retailers who offer these "too good to be true" deals. Be careful how your company interacts with daily deal sites so they attract more customers, and don't cost your business too much potential revenue. For example, if you give gift cards away at a discount is that too much free money? Here are some tips to success in the daily deal arena:
