How to Cash In on the Benefits of Selling Gift Cards
3 Benefits of Selling Gift Cards for Gourmet Popcorn
Gift cards offer many advantages for retailers that should not be overlooked – especially during the holiday season. It’s an easy-to-implement option that adds another level of convenience for your customers and can benefit your business in the long run. Here are 3 ways adding gift cards to your inventory can improve your business.
1. Gain exposure to new customers.
It’s quite possible that the recipient of a gift card for your store is entirely unaware of your business and products. When a current customer gives that person a gift card, you suddenly become top of mind to them, through no effort of your own.
Think of it as word-of-mouth marketing but with an even higher rate of return: a friend or family member not only recommends your product but also provides a means of trying it out for free – there’s nothing to lose.
2. Make two – or more – sales instead of one.
Gift card users commonly spend more than the designated amount on the card. They might make a large purchase and go over the gift card amount immediately, or they may make a smaller purchase at first, leaving a remaining balance on the card. In this case, on their return visit, they’re almost certain to spend more – and they’ve come back to your store for a second time.
3. Become a resource for struggling gift-givers.
During the holidays especially, but also throughout the year, gift purchases can be difficult for a lot of folks. Whether it’s an acquaintance who the gift giver doesn’t know well enough to choose a personalized present or it’s for the person who has everything, specialty food items can fill this gift gap nicely. Offer gift baskets for all occasions and include gift cards for small amounts in the baskets to encourage the recipient to return.
Due to COVID-19, some people prefer not to shop, but still want to give gifts that are thoughtful and meaningful. Gift cards offer a nice and safe alternative and give your customers options.
Gourmet popcorn and/or gift cards for recipients to choose their own preferred flavors can be perfect for teachers, service providers, and corporate clients. And once they’ve been impressed by your product, these recipients, in turn, may just be interested in purchasing your popcorn for their own fundraisers, events, or customer appreciation.
How to Get Started with Gift Cards
To start a gift card program, first, check with your merchant bank to see if they offer any options that could work for you, and also find out what they will support if you choose to go elsewhere. Think about what you’d like for your program in the long run: Do you want multiple designs on gift cards? Do you want to be able to redeem gift cards online? Not all vendors provide every option, so do your research.
You can start preliminary investigating with this list from Small Business Trends.
Once you have your program up and running, make sure you’re continually creating and displaying fun, innovative flavors to entice customers to come in and purchase for themselves and for others. Use our gourmet popcorn recipes for inspiration!