In the ever-changing financial instrument sector, gift card issuers have always adopted the change and introduced new solutions with added benefits. Nationwide lockdown in many countries to control the spread of the virus is not only affecting self-isolated and elderly people to get groceries and other essential products but also the retailer’s profitability. Therefore, retailers have started offering volunteer e-gift cards to support self-isolated and elderly people. It is expected that even though the coronavirus pandemic will pass, however, the need for volunteer e-gift cards will remain high over the years to come.
Retailers are gearing up to offer more convenience to customers
Self-isolation and maintaining social distancing have become the preferred way to prevent the virus, especially among elderly people. An increasing number of lockdown days in many countries is also restricting normal retail activities. It is becoming more difficult to get food provisions and other essential goods, particularly for elderly people. Many people are relying on volunteers and local communities to supply groceries and other essential products to them. However, as people are avoiding cash transactions to prevent the contagious coronavirus, therefore demand for non-cash payment instruments, including gift cards is increasing. Retailers are gearing up to offer volunteer e-gift cards which can be easy to buy online and email to volunteers to avoid any direct contact.
New launches will drive the volunteer e-gift card’s growth
The adoption of volunteer e-gift cards is rising along with the increasing severity of the coronavirus pandemic. It is expected that this type of gift card will play an important role to maintain retailers’ profitability and consumer relationships.
Many retailers have started launching volunteer e-gift cards. For instance, in April 2020, Marks & Spencer and Asda launched volunteer e-gift cards in the UK. These gift cards can be bought through companies’ websites.
Similarly, on May 14, 2020, Tesco launched a volunteer e-gift card program to help vulnerable and self-isolating individuals. Once bought from the company’s website the cards can be topped up and the balance can be used within five years from the day of purchase.
In April 2020, Waitrose a supermarket chain launched volunteer e-gift cards for communities and volunteers helping elderly people and vulnerable during the ongoing COVID-19 crisis.
To know more and gain a deeper understanding of volunteer e-gift cards for elderly and self-isolating shoppers globally, click here.