In a post-pandemic era, as consumers start socializing, the shopping pattern of the consumers is exhibiting some interesting changes regarding gift card usage, which the retailers and brands are taking into account before adopting any strategies. Now consumers are opting for buying products online, taking deliveries from stores or buying in-store. Since gift cards have always been an important tool for retailers to tackle the shifting trends, more gift card providers are observed to enter into innovative partnerships to attract more retail clients. For instance,
Providing digital payments such as digital wallets and pay later increases the chances of a shopper’s return significantly. Therefore, the gift card provider strategized to attract more brands and retailers through this new partnership. Under this partnership, both the merchants and consumers will be able to make payments using their digital wallets, and even pay through buy now, pay later (BNPL) options. Together with this, the partnership also opens the payment option of cryptocurrency. Apart from this, Aurus platform also supports payment options for food stamps and cash benefits. Therefore, it is expected that post-partnership, Blackhawk Network will be able to attract a significant number of retail and grocery companies through its innovative gift card and payment programs.
Since gift cards are also increasingly becoming part of customer loyalty experiences, employee recognitions, marketing promotions, and even sales incentive programs, rewards and incentive platforms are also plunging into the B2B gift card space to attract more customers. For instance,
Gift card services in the United States are generally very slow in responding to their clients. AAeGift Rewards target this issue through its one-on-one account management staff to solve the queries with follow-ups, together with 24 hours customer service. Additionally, the platform successfully streamlined its order, payment, and delivery, all into a single platform to deliver a seamless user experience.
AAeGift Rewards, which was running promotions where new signees can receive rewards upon registration together with bonuses for completing their first purchase, is expected to see strong adoption amongst the businesses in the United States. Since gift cards are recognized as a growth strategy tool to advertise their brands, draw in new clients, raise brand recognition, reduce fraud, and boost sales, the B2B gift card market is projected to witness continued growth globally.
Giftcardsby.com, a 360-degree platform, helps small and medium-sized local businesses attract customers through innovative gifting solutions. Since customers are increasingly cutting back on spending, retailers and brands are investing in new strategies to attract and retain customers through gift cards. Therefore, it is expected that more businesses will adopt this new platform to build consumer engagement in the region.
With the change in the economic climate, the preference for digital gift cards in the B2B gift card market is increasing as these can be issued instantly at very little cost. Moreover, as compared to other rewards, gift cards are less labor-intensive and also cheaper. Along with this, gift cards allow businesses to transfer savings to their customers and provide them value in long run, thus helping businesses to retain their customers. Therefore, over the next four to eight quarters, not only the gift card providers but also loyalty solutions providers are entering the B2B gift card space to tap the increased demand
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