The holiday season is in full swing and seasonal shopping reports are showing a key trend that could boost your business into the new year. For the 16th year in a row, gift cards are projected to be the #1 preferred holiday present, for both gift-givers and receivers. With concerns supply chain issues and the impact inflation is having on the cost of goods, many consumers are looking to purchase gift cards, which allow gifters to have more control over their spending and avoid the inflation of physical gifts. Check out a few other projected trends for the 2022 holiday season:
- On average, consumers plan to purchase 36 gift cards – both physical cards and digital e-commerce gift certificates – up from an average of 15 gift cards in 2021
- Shoppers plan to spend 46% of their holiday budget on gift cards, up 18% from last year
- Consumers are looking to stretch their dollars by seeking out deals such as additional gift card value (ie extra $10 when you spend $100)
WHAT SHOULD YOU BE DOING TO GET READY?
- Website Updates: If you offer gift cards online, be sure to have the purchase button easy to find for the user. Only offer gift cards in-store? Add a call-out on the main portion of your website letting customers know (especially if you are offering a deal!)
- Direct Mail: What better way to stand out from the mounds of emails customers receive each day than with an oversized mailer, sent directly to their home! Promote your top services, gift card offering, or even send an offer to drive traffic to your location now.
- Addressable: Boost your sales potential by pairing a direct mail piece with geofencing ads. With a hyper-targeted digital campaign, you can increase customers’ awareness of your business without a large increase to your budget!
- Run a Promotion: Shoppers are looking for deals that get them more with less. Consider offering a “bonus” gift card value, where shoppers can earn extra dollars for themselves or others. A popular promotion is a free $15 gift card with the purchase of $100.
- Social Media: Your social channel content and ads should reflect any holiday specials you are offering, as well as the ability to purchase gift cards or certificates. Try telling a story of why the gift-giver should choose your business to give their friends and family this year.
