The passing of Labor Day signals the symbolic end of the summer to many and now we look forward to what lies ahead as September is underway. Fall colors, seasonal Starbucks drinks and Halloween are all fun things that highlight this time of the year, but something that requires a great deal of preparation is also rapidly approaching in the coming months: the December holidays!
Purchasing the perfect gift for every person on your personal list of family members and friends is difficult enough, but figuring out what to give your employees, customers and channel members is a completely different situation. If you operate a relatively small company with a short list of clients, then you may have the appropriate amount of time and knowledge to purchase something tailored to their preferences, which is the ideal option. If you are tasked with gifting for a large corporation, then personalized gifts are virtually impossible.
Thankfully there is a gift available that is easy to distribute to a large audience, cost-effective and allows you to thank your audiences by offering them the freedom of choice!
Gift cards are that gift!
Corporate gift cards come in several different forms. The typical Best Buy or Starbucks card you may think of when you hear the words “gift card” is merely one type.
“Open loop” cards can be used virtually anywhere major credit cards are accepted, allowing the recipient the freedom to purchase practically anything that their heart desires. MasterCard® is a common issuer of open loop gift cards. This category accounts for 56% to 62% of the market.
“Closed loop” gift cards are issued by a specific retailer, such as Best Buy or Starbucks. Closed loop cards fall into the following categories (ranked from most to least popular): food & beverage, department stores, exclusive online retailers, music and movies, fuel, electronics, sporting goods, apparel, travel, jewelry and accessories.
Both types of gift cards carry low fees and are easy to distribute. Open loop cards can be personalized and branded with your company logo and both will make virtually any person happy! We all love the freedom to choose right?
The gift card industry is not just relevant to businesses during the holiday season though. Corporate incentive and loyalty programs are valuable tools to utilize year-round and can center on distributing rewards and incentives for greatness in sales, performance, safety, loyalty and other achievements. Holiday gift cards are only the beginning.
Below is a profile of gift card intentions among companies who frequently use them as some form of incentive, according to Incentive Magazine:
For more information on how to implement a gift card program to thank employees and customers, optimize channel sales, increase safety or reinforce and reward just about any other positive behavior, please give us a call at 949.476.2788, send us an email at firstname.lastname@example.org, view our website or check out the relevant links below.
Suggested Gift & Rebate Card Readings:
Written by Kristopher Hewkin
JNR Incorporated is a results-based, globally recognized leader that specializes in creating custom travel, meeting, event, prepaid card and merchandise programs that motivate, engage and inspire the employees, customers and channel members of our clients. We have over 30 years of experience working with Fortune 500 companies of many diverse industries. Our programs are tailored to fit the specific needs of marketing, sales, management and human resource professionals. The unique solutions we apply are measurable and proven to increase performance, loyalty and revenues.