Why Are Gift Cards Useful?
There are several reasons why a merchant might want to initiate a gift card program for their business. In addition to the above mentioned benefits, it is important to note that from a business prospective, gift cards can increase your sales beyond the purchase of the card. For example, 3 out of four consumers will spend more than the amount available on their gift card when they shop at your store. On the flip side, up to 21 percent of individuals who receive a gift card will fail to redeem the entire balance, which is still beneficial to the business. Refunds can be in the form of a gift card, therefore cash refunds can be eliminated for customers making their purchase with gift cards. Any business that has a credit card processing system in place can benefit by gift card programs with minimal added expenses.
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