The Holiday Season is a $626.1 billion revenue stream for merchants and Holiday sales have increased 3% from this past year. With so many businesses vying for customers’ attention, what are YOU doing to set yourself apart from big retail and eCommerce players?
In this post, we will cover:
- Selling eGift Cards
- Interactive Gifts
- Birthday Club
Alternative sales methods and promotions have become one of the best ways to distinguish yourself from competitors. Most notably, holiday gift cards are a great way to boost revenue. According to Card Hub statistics, about 50% of gift card buyers purchase them for the holiday season, and in total, 1 in 4 gift cards are bought between December 21st and December 24th. The holiday market has a value of over $30 billion, a sizable chunk of revenue. With technological advancement, eGift Cards have become particularly popular among consumers looking for convenience and simplicity.
Even though the market is quickly accelerating, holiday gift cards with compatible promotions have gained more and more popularity with consumers looking for the best deals. Buy One Get One deals are loved by customers, and the AMG Shopper Panel found that 66% of shoppers prefer these promotions to other offers such as 50% off. These promotions run during the holiday season have been extremely successful. For example, select Yiftee merchants sold over $40,000 of gifts over the holiday season as a result of the campaign.
Other promotions have also had successful results, especially those that require customer interest. While the rush to get gifts characterizes the holiday season, customer interaction provides a unique opportunity to captivate. Text-in prompts that send gifts to interested customers provide the perfect opportunity to impress new and returning customers. These gifts are also great at securing up sell. Most importantly, interactive gifts provide the best way of tracking your advertising. On media such as direct mailers and social media, there’s no guarantee that your customers pay attention to your ads. A text-in prompt will allow you to really see who is engaged by your product!
In the meantime and in the months approaching the holiday season, create a Birthday Club to gain loyal customers to market to. If you require an email address to sign up for your VIP list, you can create an important marketing tool to contact your consumers. During the holiday season, this is especially important because spending is much higher.
Overall, the holiday season is coming up, and it’s time to prepare! Consider tapping into the power of holiday gift cards and promotions to secure your chunk of the rapidly expanding market.