GiftCard Partners Blog

CVS Caremark, along with IBM, announced a commitment to the "Technology Solutions for Smarter Health" grant program, which is in partnership with the National Association of Community Health Centers.  The $1.5 million contribution supports the use of innovative technology among community health centers to improve patient care as well as increase patient engagement.

We talk a lot about employee engagement, but today let’s focus our attention on customer engagement (and as you may know, customer engagement and employee engagement correlate with each other).  The best companies know that acquiring new customers and customer retention are key to real sustainable growth, no matter what industry your company is in.  Jobs follow customers. Without your customers there would be no company. Over the last 5 years, gaining and retaining customer has been difficult and the customer base has changed dramatically.  Customers are more cautious about spending and demanding more in return. Over the next 30 years, roughly
$140 trillion in new customer spending will be up for grabs! The best companies set out to win their customers over for life. They also understand that customer engagement is not something that happens overnight. Each encounter with a customer has a chance to strengthen and even undermine a customer/company relationship. Strong customer engagement creates customers that spend more, visit more, and promote your company, all while resisting competitors and forgiving mistakes. The economic landscape has improved over the last year and companies can make significant progress in growing their customer base. Last year the greatest percentage of customers were fully engaged based on global data analysis – more than at any other point in the last 5 years.  Companies should focus on optimizing every customer interaction, create emotional connections with their customer, and constantly measure customer engagement (a good method is surveying customers either online or in-store). With meaningful data, companies can easily spot positive trends to build on and eliminate negative issues before they become problematic. Want more insight into your customers?  Download the State of the American Consumer:
Insight for Business Leaders from Gallup, Inc.
here!

As we head into the 2024 holiday season, gift cards remain a significant part of retailers’ strategies. The industry has seen incredible growth over the years, and the trend is far from slowing down. With the global gift card market projected to reach over $1.4 trillion by 2027, retailers are paying closer attention to new trends that can enhance customer experience and drive sales during the busiest shopping season of the year.

Although we all know that gift cards are nothing new, it's also clear that they're not going anywhere anytime soon. Much of their stable market has to do with the new digital trends and shifts happening within the gift card industry. With these shifts, comes a change in consumer perception of gift cards as well. Gift cards are a way for retailers to appeal to their consumers, making loyal shoppers out of many of their customers through gift card reward programs. But gift cards have also remained popular as purchases for, well, gifts. Much of this is due to convenience, especially with the growth of digital e-cards, which make it simple to purchase and send quickly and without waiting in line. For those retailers  looking to increase their gift card sales, however, they may have to offer a little something extra along with them. According to a new survey,
17 percent of consumers won't buy a gift card until they see a promotion of some sort happening along side it, and 23 percent take promotions into consideration when deciding where to buy their gift cards between competing retailers. But as anyone in retail or the gift card industry knows, no matter how the technology or promotions change, gift cards will always give customers an incentive to visit your store, a gift that's priceless.
Statistics are courtesy of Incentive -- read the full article here.

Spring has sprung and the winter is finally melting away. Apparently, along with flowers shooting up toward the sky, so is consumer spending. This month, the 
LA Times published an article about the recent surge in retail sales. According to them, retail sales saw their largest growth in one and a half years during the month of March. It's the best figure seen since September 2012. "'Spring is in the air indeed,' Rupkey said. 'The economy is on firm footing today and the future looks bright,'" wrote the 
LA Times. As tax refunds come through, many experts believe that we'll only see a continuous rise in retail spending. Data showed that retail sales, with the exception of automobiles, gas stations and restaurants, went up by 0.8 percent in March over February. According to the Commerce Department, seasonally adjusted retail sales grew by 1.1 percent last month.
The growth in retail sales means good things for businesses all around. It's a sign that the economy is on the rise, as consumers are spending more freely. It's also great for those with loyalty and rewards programs, who now have bigger budgets and more customers than ever to work with. There's no doubt about it, things are looking up for all of us!
Read the full article in the LA Times.