Australia has seen a massive ramp-up of gift card usage in the last few years. With the onset of the global pandemic forcing every store and business to hold transactions online, the implementation of gift cards throughout the country skyrocketed. As a result, it isn’t uncommon for individuals to request a universal gift card for online payments and purchases, mainly because gift cards are slowly becoming the new norm. With Australia’s gift card market expected to reach a total estimate of about 5391.7 million dollars by 2021, take a look at some of the best benefits of utilising gift cards for both customers and businesses.
Benefits For Customers:
Freedom of Choice: With a universal gift card, customers are free to purchase a product of their preference instead of sticking with something they don’t like. With thousands of stores and brands under its belt, gift cards give customers a chance to explore unlimited options for purchase.
Easy To Carry: It can be a real hassle to fill a wallet or a purse with the necessary cash for daily purchases. Not only is this a nuisance, but also during payments, it’ll take some time to count the change and pay the correct amount. Gift cards do away with cash bundles, and instead, customers can make payments with just a swipe. Having eftpos gift cards can transfer customers’ paymentf rom their bank account to the shop’s bank account easily.
Legal Protection: Many governments and financial bodies across Australia encourage citizens to use gift cards and even offer incentives and other rewards for regular customers. Moreover, many legal policies are in place to protect the customer’s privacy and secure monetary transactions if the card gets stolen or lost.
Track Spending: Gift cards can help customers track their spending as they go on various shopping sprees. Every purchase made is recorded and stored for future references, and customers can even add daily limits for the card. It is a great way to track the budget and a safer means of payment for kids.
Better Means Of Gifting Someone: Want to give a special present for that friend and avoid unnecessary confusion? Get a gift card! It’s that simple!
Benefits For Businesses:
- When customers purchase a universal gift card, they automatically improve the brand image and awareness of the company. There is nothing more effective than a plastic card that offers better advertising prospects than a regular billboard.
- Customers can purchase many products under the brand and use hundreds of holiday deals and offers. This increases the number of consumers for the company and enhances cash flow.
- Companies can use gift cards to track useful information regarding sales and purchases. They can pinpoint sectors having high customer demand and shift or adapt marketing strategies accordingly. As a result, companies can stay two steps ahead of their competitors in product sales.
- Customer satisfaction and trustworthiness is also a major benefit when it comes to gift cards. It can be enhanced through rewards, handsome deals and offers and other benefits for regular customers. This encourages them to stick to the brand for the long run.
With all these benefits mentioned here, it is quite relevant to see how gift cards can shape the way customers make cashless transactions. For businesses, it is a cost-effective means of advertising and market strategising that will enable them to serve their consumers very well and, at the same time, reap huge intel on the market demands and supply flow of products and revenue.