Why Small Businesses Should Sell Digital Gift Cards
As small businesses continue to evolve and respond to the demands and expectations of modern consumers, more are turning to digital gift cards as a complementary addition to their gift card offering. With a recent study showing that small businesses who sold digital gift cards too saw a 20% increase in revenue compared with businesses who only sold physical cards, it isn't difficult to see why! In this post, we will discuss why small businesses should sell digital gift cards.
Digital gift cards offer a lower cost option compared to physical gift cards. Businesses that only sell physical gift cards have to incur the costs associated with printing and mailing them (unless they are happy to be restricted to only selling them in-store). This can be expensive and time-consuming, which can ultimately reduce the profits of the business eating into the return on investment.
Speed and convenience
Digital vouchers are a faster more convenient option. While physical cards may take several days before they arrive at their doorstep if posted out, digital gift cards have no physical restrictions so can be delivered instantly to a recipient's inbox. Perfect for last-minute shoppers and ideal for businesses who want to sell online but don't want the additional administration that comes with mailing physical cards.
Small businesses can increase profits by selling digital gift cards, according to a study by First Data. The study found that small businesses that sold digital gift cards saw a 20% increase in revenue, compared to those that didn’t sell them. This is in no small part a result of the digital vouchers being available anytime, anywhere. Customers have no need to wait for the store to open, and no need to wait days for postage.
Digital gift cards are less likely to get lost or stolen than their physical counterpart. This is because a digital gift card is stored electronically and does not have to be printed and mailed.
Digital gift cards offer a number of advantages over physical gift cards for both small businesses and their customers. They are cheaper to produce and mail, faster and more convenient to receive, and less likely to be lost or stolen. In addition, small businesses that sell digital gift cards see an increase in revenue compared with those that don't. If you are looking for an easy way to boost your sales, consider adding digital gift cards to your product offerings!