Gift Voucher Retail
One way which many retailers have driven traffic into their stores is through the gift vouchers route , come to think of it ,this is a great tool .Gift vouchers play a good role in the gifting process first because one doesn't have to break their heads as to what to gift , which is the biggest disconnect mostly among consumers with the standard question "what do we give ".
Gift vouchers come in various denominations and have a deadline for usage ,unfortunately one cant break it into smaller denominations and one has to use the entire value in one go , if you see the spends from gift vouchers , it would be higher than the value of the vouchers ,so its a good cash memo size driver as the users tend to spend more than the value .
Plus like all vouchers , there cud be a size able number of vouchers that don't get redeemed even .
Gift vouchers is a big business line , add an element of institutional sales team and you get going , so along with a walk in model that retail ,is normally , a walk out model with institutional sales for vouchers can do wonders for retailers!
Comments
If you buy a smaller amount than the phase value of GV, LIfetsyle issues a credit note for the remaining amount.
Dont you think it is WOW..!!
Its much better for the receiver also, as that leaves the choice of buying something useful to the receiver.
Some banks have also jumped on the bandwagon of prepaid gift cards, which offer more flexibility as they can be accepted in many more outlets.
Nice blog....keep it up!