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Can Gift Cards Increase Revenue and Customer Satisfaction?
Home » Small Business » Gift Cards » Can Gift Cards Increase Revenue and Customer Satisfaction?When purchasing a gift card, many consumers will make additional purchases while in the store. These purchases can be considered increased revenue. Likewise, when the gift card recipient makes their selection, they will often purchase more than the value of the card and supplement that purchase with another payment method. This, too, is revenue that is directly related to the gift card.
Many consumers purchase gift cards for family members, friends, and co-workers. The flexibility offered by the gift card allows the giver to present just the right gift without knowing what that might be. This flexibility increases customer satisfaction for both the gift giver and recipient.
In our culture, it is still unacceptable for the gift-giver to announce the value of the gift to the recipient. Because of this, it is very rare for a gift to be accompanied by a receipt. Since most returns require a receipt, gift cards offer another way to avoid returns and the possibility of a negative experience related to a return. Ironically, the stigma of letting the recipient know the value of the gift given doesn’t seem to apply to gift cards.
Not only do returns increase the possibility of a negative experience, they also reduce sales figures. By avoiding returns of unwanted items, both store sales and customer satisfaction stay up.
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