Gift vouchers are a highly effective way for retailers to increase sales and grow their customer base – and the figures back this up. The gift card and voucher market is expected to hit around £10.2bn by 2028, presenting a serious opportunity for retailers.
One of those big opportunities is using gift vouchers to beat seasonal peaks and troughs. By implementing a well-thought-out gift voucher strategy, you can boost business in those off-peak months, and incentivise and encourage customers to visit more regularly – and spend more often.
Here are three very smart ways you can use gift vouchers to beat seasonal lulls.
Upsell at peak times
Every retailer has peak times when cash is flowing in, and stock is rolling out. It could be in the run-up to Christmas, the summer holidays, or a period specific to your sector – or even location.
When times are busy, however, it’s smart to take full advantage. For example, by offering discounted gift vouchers when a customer has spent a certain amount, which can only be redeemed after a peak period, you can help lock future spending in as well as guarantee another customer visit.
Offer personalised gift vouchers
The information you collect about your customers is an integral part of securing future sales – so don’t let that opportunity pass. If you’ve got things in the back end set up well, you can analyse past and current spending patterns, as well as understand the types of products people are looking at online.
By using this information, you can tailor and personalise offers. For example, if you know a customer has been looking at jeans from a certain brand, you can offer a one-weekend-only discount to complete the purchase. You can put parameters in around minimum spend to encourage more sales or rely on that to happen naturally. Either way, by promoting an offer like this on a ‘down’ weekend, you can attract customers in-store and hopefully boost sales figures, too.
Explore B2B corporate strategies
Corporate businesses will often be interested in building their staff incentive schemes, and gift vouchers are an easy way to help corporates boost the package they offer their staff – and increase your sales.
By negotiating deals with local businesses for gift vouchers as staff recognition awards, for example, you can enjoy a regular uplift in sales – as well as put your business in front of customers you may never have seen before.
Using gift vouchers to boost sales – and increase your customer base
By using gift vouchers tactically at slower points of the year, you can help smooth sales – as well as build a whole new customer base.
Find out more about how Giftpro’s gift vouchers can help your business today.
