Human Resources

Yiftee blogs about employee rewards and client appreciation

Back to School Shopping Spending Data

by yiftee on August 4, 2017

BAck to school Data

With statistics from the National Retail Federation projecting Back to School spending reaching a total of around $29.5 billion, the months of July and August are now considered the second biggest shopping season of the year. This will be the second highest spending on Back to School supplies since 2012 when spending was totaled at $30.3 billion. This new total is a ten percent increase from last year and is a result of the stabilized economy, rising wages, and increased employment levels.

We are currently in the height of the back to school shopping season. Deloitte’s annual survey on back to school shopping concluded that 71% of spending takes place during an eight week period from early July through late August. An easy way for retailers to anticipate behaviors for this back to school shopping season is to look at projected allocations of spending.

Expected spending graph

The same Deloitte Survey projects that a majority of all shopping will be completed in stores, 21% online, and 22% of individuals are undecided. (graph) Of the undecided, 68% will shop online when online shipping is offered, and 65% will shop online at various points in the summer to take advantage of various deals. A little over half will shop online when they can take advantage of a buy online and return in store deal. 49% prefer a system similar to Amazon Prime where loyalty programs that provide faster, cheaper shipping, instead of discounts on merchandise. Although these 22% may not shop online, a majority will still visit online sites to research Back to School supplies online before purchasing. 

characteristics of undecided shoppers

Social media also plays a role in back to school online shopping as one fourth of individuals will use social media for transactions. Social media is also commonly used to receive coupons, browse products, and read reviews and recommendations.  

social media usage in back to school shopping

Lastly, there are a lot of deals that will help back to school shoppers save money during this shopping season. For example, Amazon has back to school merchandise marked down by 80% this season. This ranges anywhere from children’s apparel, school supplies, and electronics. Apple is also running a promotion where the MacBook Pro and the MacBook Air are discounted up to $300 for teachers and students. Also, a free set of Beats Wireless Headphones will be given with purchase.

Comments or questions?

Give us a call at (650)564-4438 or schedule a demo with us.

 

yifteeBack to School Shopping Spending Data

Food Truck Marketing Tips From Yiftee

by yiftee on July 11, 2017

Yiftee & Food Trucks = No Brainer

As a small business it can be hard to distinguish yourself from the crowd, especially when you have limited resources. So in order to stand out you need to be creative like local coffee shop Prufrock, located in London who came up with the idea of a disloyalty card. Yes you heard that right, this company actually rewarded customers to buy coffee from their competitors. “Customers who patronized eight competing coffee shops and got a card stamped there would get a free Prufrock coffee”. Gwilym Davies, a co-owner of the shop said “I knew it was a good idea when it totally confused a group of city workers who regularly visited for coffee.” This wacky and creative idea garnered a lot of buzz for the coffee shop and helped create more business. “Revenue rose 18% to 20% due to new customers coming in for cards in the first three months”.a

People these days are bombarded with countless ads, this in turn has made it harder to reach your target audience since people just tune most ads out. This has made word of mouth one of the most effective avenues to reach potential customers.  According to “a 2015 Nielsen report found consumers are 90 percent more likely to trust a brand recommended by a friend.” Through Yiftee friends can send each other gift cards with personalized notes, from their favorite businesses. This will allow your customers to not only recommend your business to their friends, but incentivize them to buy from your business too using Yiftee’s eGift cards.

Street foodLocal partnerships, can also be an effective way to gain new customers. The San Francisco based food truck  b. Street waffles found this out when they partnered up with their local Capital One bank to serve their food there once a week. This partnership helped this food truck expand, and now it caters to some of the top tech companies in its region. “Whether its learning from other small businesses and turning to them for advice, or finding opportunities to connect with new customers, small business owners need to capitalize on opportunities to engage with their community, which will ultimately help their business thrive.”

These three marketing tactics are just a few of the many ways small businesses can reach their target audience. Having out of the box and creative marketing strategies can help you small business stand out from the crowd. Sign up for a free trial of Yiftee’s eGift cards today.

 

 

yifteeFood Truck Marketing Tips From Yiftee

Consumer Data Helps Businesses Run Smarter Promotions

by yiftee on July 6, 2017

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In the data driven world that we live in, consumer data plays a vital role in helping businesses enhance their consumer’s experience. Consumer data not only helps businesses understand their customers, but it also helps learn more about the business itself. They can learn the strengths and weaknesses of their business, which can help them maximize their profits and lower their costs. Amazon, which is one of the world’s largest collectors of consumer data, continually analyzes the data that they have on their customers to learn more about their buying behaviors and patterns. This allows Amazon to optimize their customer’s experiences on their various platforms and services.AdobeStock_85595304-min

Data was a key reason why Amazon decided to recently purchase Whole Foods. This acquisition will allow them to gain even more insights into their customer’s buying habits, since grocery shopping is a regular activity for most people. They can use this data to help them predict what items or bands of food shoppers might want to buy; it can also tell them what the most popular days and times are for grocery shopping.analytics-dash

By using Yiftee eGift cards your business will be able to collect important data about your clientele that can give you an edge over your competitors. For example, you can learn when customers are most likely to buy gift cards, or what products/items they use the egift cards for the most. This data can help you enhance the buying experience for your customers. Data from our egift cards is easily trackable since it is all done electronically. Businesses can use our website’s analytics dashboard to find info such as, a graphical display of gift cards sold, value and redemptions. Consumer data can also help with the logistics side of your business. You can use your data to find out what products are the most or least popular and order more or less of those items accordingly. This could help you cut down your inventory costs by eliminating excess inventory of less popular items.

Consumer data is, and will become an even more important part of the business world as technology continues to grow; and becomes more entrenched in our lives. As businesses and consumers shift more towards e-commerce their will not only be more consumers to track, but it will also become easier. Businesses that can not only collect data on their customers, but also effectively analyze their data will be the ones who will thrive in this business climate.  

 

yifteeConsumer Data Helps Businesses Run Smarter Promotions

Boost Your Holiday Sales

by yiftee on October 13, 2016

The holidays are coming quickly.  With a little extra effort and some savvy promotion, you can boost Holiday eGift sales exponentially, which will also drive incremental traffic in 2017.  Here are some things that you can do to enjoy a big bump in holiday gift card sales:

1. Promote your gift cards.  If you have an email list, send out a blast, or two, to let your guests know that you offer eGift Cards, a perfect gift, convenient to buy and to redeem.  Promote gift cards on your social media pages as well.  Make sure that you have your Facebook gift card button activated to make it super simple for customers to purchase.

2. Merchandise yoboost holiday egift salesur gift cards in-restaurant with table tents, check stuffers and posters.  Make sure your hostesses and servers tell guests about your eGift Cards and how convenient they are for easy holiday giving.

3. Offer a BOGO (buy one get one).  Many restaurants and  retailers offer a little something to the gift giver when they purchase a gift card (i.e., Get a $5 gift for yourself when you purchase a $25 gift card).  Yiftee makes offering such BOGOs  easy.  If you don’t want to offer a dollar gift, you can offer a Free Appetizer or Free Dessert.  You are limited only by your creativity.

4. Have a Cyber Monday Sale.  Many consumers dread going out into the crowded malls during the holiday season.  You can offer a special one-day only BOGO sale via e-mail blast, social media and in-restaurant flyer.

5. Appeal to the procrastinator.  The beauty of eGift Cards is that they can be purchased and given at the very last minute with almost no effort from the purchaser.  Send out an email blast on Christmas Eve reminding your guests that your emails make the perfect last minute gift.  And, of course, if you are offering a BOGO, the response will be even greater.

Log in to your Merchant Dashboard and click the “Buy One, Get One tab” to learn more!

If we can help you put together a promotion, or if you have questions, please contact merchantsupport@yiftee.com or 650-564-4438

 

yifteeBoost Your Holiday Sales

Three Finer Points of Gifting Psychology

by yiftee on January 8, 2015

We have all, at some point or another, grappled with questions about gifting such as what to give, how to give it, and even how our gifts will be perceived. And though the Holidays are just behind us, it’s definitely worth taking a look into the finer points of gifting psychology.

yifteeThree Finer Points of Gifting Psychology

Why NOT to Send Plastic Gift Cards

by yiftee on December 16, 2014
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Everyone likes to send plastic gift cards because it’s easy and safe, right?  Wrong.  Here are the top five reasons why not to send plastic gift cards to your friends, family, employees and clients.
  1. They don’t save time or effort.  You or your assistant still need to drive to the grocery store or big box retailer, stand in a line with the ‘central casting’ of holiday shoppers (and their children) to buy the gift cards. They still need to be put in an envelope and mailed (rush delivery costs extra!).  Lines, lines, lines.
  2. Plastic gift card choices are from mega-brands, online stores, or that dreaded coffee shop that is found on all four corners of every intersection, making them impersonal and unimaginative.
  3. They get lost in the back of the sock drawer and forgotten.  They are not exchange-able, nor donate-able… thus, plastic gift cards often get re-gifted along with last year’s fruitcake.
  4. Santa doesn’t like plastic gift cards.  Where’s the magic!
  5. They are passé.
yifteeWhy NOT to Send Plastic Gift Cards

Digital gifting, Millennials, and the Holidays!

by yiftee on November 13, 2014

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For many, physical gift cards are rapidly becoming a thing of the past. Just like how society as a whole has entered a digital era, so too has gifting.

yifteeDigital gifting, Millennials, and the Holidays!

Winter is Coming–and So Are Holiday Cards!

by yiftee on October 23, 2014

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As the holidays approach, so too do the inevitable swaths of cards and holiday greetings. Christmas cards have long been a holiday mainstay, and it’s hard to imagine the holidays without them. It’s a huge industry, with over 1.5 billion Christmas cards sent in the US alone in 2010. In fact, Christmas cards make up 45% percent of all cards sent.

yifteeWinter is Coming–and So Are Holiday Cards!

Quick Tips for Boosting Sales Outreach

by yiftee on October 9, 2014

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While loyal, repeat customers are always vital to a business, ultimately there’s only so much revenue your business can generate from them. Moving forwards, reaching out to new potential customers is just as critical. Here are a few tips to maximizing outreach success.

yifteeQuick Tips for Boosting Sales Outreach

Holidays 2014: The Season of Digital Gifting

by yiftee on September 25, 2014

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With the holiday season rapidly approaching, gift cards are a crucial part of most retailers’ business and strategy. For some, as much as 50% of fourth quarter business comes from gift cards. Worth $120 billion in 2013, the gift card industry is expected to swell to $160 billion by 2016.

But traditional gift cards do have their shortcomings. There is the common issue of gift cards simply being forgotten–left in the sock drawer, and never redeemed. And while some retailers have begun looking into gift cards made from renewable materials, the vast majority of cards are environmentally unfriendly.

yifteeHolidays 2014: The Season of Digital Gifting