"Careful" "Controlled" Holiday Spending to Come
Even though it is not yet Halloween financial analysts and retail experts are already working to predict holiday spending. With an unstable economy and uncertain times ahead most shoppers will be keeping tight budgets, and not making extravagant purchases. According to a recent Accenture survey "One quarter of shoppers (24 percent) plan to have a 'thrifty' holiday season and one in five (18 percent) admit that they will be 'focused on necessities', just 6 percent admit to planning 'extravagant' or 'unrestrained' holiday spending." In this type of market, where consumers are being conservative with their holiday budgets gift givers want to ensure that they give "targeted" gifts. These are gifts where the givers' dollar is stretched and the giver is sure the receiver is going to use and enjoy the gift. Gift cards are great examples of "targeted" gifts, they are meaningful, and guaranteed to be enjoyed. Allowing a friend or employee to enjoy dinner with their family, or to splurge on a new outfit is a win/win; a low risk purchase for the giver and a high reward for the receiver. With 43% of survey respondents claiming that they have less income than last year, and historic economic swings, it is going to be a year of low risk gift purchases. Remember the value of gift cards as you make your holiday purchases this year, whether it be for your friends, or employees.
For more information on the recent Accenture survey click here.
Unlocking Business Potential: Elevating Sales with Tailored Gift Card Management
In today’s competitive landscape, gift card programs are no longer just a convenient gifting option—they’re a strategic tool to amplify sales, foster loyalty, and expand brand visibility. By partnering with experts like GiftCard Partners, businesses can streamline their gift card programs, driving tangible growth and deeper customer engagement with powerful gift card marketing strategies.
People Over Profits, Could this translate in the U.S.?
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
From our eNews: CVS ExtraCare Loyalty Program, "Doing it Right"
Green Stamps were introduced in 1896 as the world's first customer loyalty program and well ... people still like free stuff or want a really great deal. Buy one get one free, frequent flier miles,
A Raise is No Longer a Sufficient Reward
Employees' satisfaction with their recognition is not truly measured by the company, but by the employee. And, although it is easy for companies to simply give employees recognition by giving a raise, employees are not satisfied with this outcome. Employees want more; they want to feel as though their employer cares about what they want for their efforts, not what the company is willing to give. The top five reward satisfaction points based on a recent poll were:
