Gift cards are not a new concept. They have been in circulation for decades across the retail, food and leisure industries for gifting or, at times, refund purposes. According to Capital One Shopping research, the gift card market is currently valued at $899.3 billion and is expected to reach $2.3 trillion by 2030 globally.
Every shopper knows the benefits of a gift card. They are suitable for several purposes, from wishing a family member Happy Birthday to saying Thank You. Mageplaza writes in their ‘Gift Card Statistics Blog’ that “This gifting culture will positively lead to the expansion of the global gift card market…”. Based on these statistics, it is safe to say gift cards will continue to be a key offering within the retail sector.
Why Choose a Gift Card Programme?
Our Director, Brian McAreavey, says “In the UK & Ireland, we are seeing a renewed energy in shopping centre Gift Card programs as demand continues to increase and place managers take advantage of new sales channels and technology to reduce operational costs”. Introducing a Gift Card Programme is a way to maintain, and often improve, gift card sales, mitigating barriers to purchase through introducing a gift card kiosk, for example. A Gift Card Programme comprises an end-to-end SaaS (Software as a Service) offering that provides software, sales hardware (POS till or kiosk), technical support and account management.
Great for Marketing
Private-label gift cards act as “mini adverts to your business” as the person gifting your card feels the shopping centre is worth recommending and trusting, encouraging the recipient to shop there (Rotacloud). As well as increased visibility through word-of-mouth promotion, gift cards can increase brand awareness whilst offering the flexibility to redeem in any store in your shopping centre, providing a greater scope for spending than a retail store card.
Benefits for Shopping Centres
As demonstrated above, gift cards are growing in popularity with your customers. Shopping centres and their tenants can benefit from the use of a Gift Card Programme because they:
- Provide revenue upfront.
- Act as an invitation to the business.
- Guarantee at least one customer visit, driving footfall.
- Reduce the time staff spends on sales, maintenance, and management of current programmes.
- Offer alternative POS options, such as an online web shop, kiosk or till.
- Can be managed by a single supplier, meaning there is only one point of contact should any issues arise.
Why Choose Clearhill?
Trusted by more than 400 shopping centres and grocery locations across the UK and Ireland, the Clearhill Group offers a range of services to help create a better retail experience for your customers. Cleargift, Clearhill’s gift card solution, can be tailored to support your marketing strategy. Our comprehensive and seamless solutions include our extensive service infrastructure and unrivalled account management, offering a complete end-to-end SaaS solution for your gift card requirements. Visit our website for more information or contact our team to schedule a call to find out more.