Industry Study Reveals Growing Incentive Gift Card Market
A study released mid-August 2017 by the Incentive Gift Card Council underscores the growing adoption of gift cards as the iconic marketing and relationship building tool throughout businesses.
While no surprise to those at National Gift Card who make it their business to respond to the growing desire for clients to use gift cards for a variety of reward and recognition audiences, the study confirms the gift card as a tactic that is continuing to lead in the loyalty and rewards space.
Ashley Harris, vice president of education at the IGCC and senior director of strategic partnerships at National Gift Card, says it succinctly: "Gift cards are an important option for incentive programs and will continue to grab a significant market share."
The study released by the trade group shows most U.S. businesses—61 percent of large businesses and 69 percent of mid-size companies—are purchasing gift cards for an increasing number of reward and recognition audiences.
On average, 71 percent of mid-size firms and 52 percent of large companies say their business to business gift card spending for employees and customers is growing, according to the study.
A significant finding in the study is the higher rating respondents give to suppliers of gift cards, including National Gift Card, particularly when it comes to choice, price, ease and service.
It's valuable information that brings into focus the importance of "ease of use" for customers who recognize the effectiveness of gift cards to drive loyalty and recognition especially for touchpoints like employee rewards, holiday perks, annual bonuses and spot rewards, and health and wellness rewards.
National Gift Card has made online direct business ordering even easier at www.ngcdirect.com, a one-stop shopping experience for businesses needing gift cards.