Gift cards are proving to be a game-changer for retailers, offering a dual advantage of attracting new customers and driving incremental spend. Brands participating in multistore gift card schemes or offering their own gift cards are reaping the rewards, particularly from younger demographics like Millennials, who are embracing gift cards for their convenience and flexibility.
The latest research from the Gift Card & Voucher Association (GCVA) and Global Data highlights how gift cards are effective tool for channeling consumer behaviour by not only introducing new shoppers to brands but also encouraging them to 'upgarde' their purchase beyond the card's value.
Posted: 4 December 2024
