Once upon a time, you would buy a gift card as a present if you were short on gift ideas. It was generally a last minute thing, and it was convenient for a person short on time. This has all changed and with gift card sales reaching the $110 billion mark, there is a huge opportunity for retailers to exploit the ongoing growth.
The amazing thing is that only the top retailers are exploiting it and the small businesses are missing out. Top retailers are taking advantage of the growth in online gift card sales, with 97% now selling gift cards online.
Why is it that only 3% of small business owners sell gift cards online? Small business owners have a hard enough time competing with big businesses as is, and these little adjustments to their strategy could help some small businesses to survive.
This infographic from will give encouragement to small business owners who are looking to add something extra to their business. Gift cards are cost effective and they are experiencing rapid growth at present, so why not try them out in your business?
Author: Christopher Landry has extensive Marketing and Sales management experience within the automotive and customer packaged goods manufacturers. He developed and ran his own business for 15 years and is the current Director of Marketing for Colourfast Inc.