By Bernadette Wilson
Gift cards are an important sales and relationship-building tool, especially for small retailers. In this exclusive interview with John Nail, senior product manager for stored value solutions at Mercury Payment Systems, discusses some of the benefits of a gift card program and its potential ROI.
BSM: How can gift cards help a merchant encourage new customers to visit their locations? What are the other benefits?
Nail: Gift cards can allow customers to earn rewards, give gifts, and pay with their smartphones or with a plastic card creating convenience and incentive to return more often. Merchants should think of gift cards like a “billboard” in their customer’s wallet. Gift cards are an unbeatable sales and relationship-building tool (64 percent of consumers purchased a gift card in the last year). Not only can merchants leverage their gift/stored value cards as promotional tools within their stores, but they should also offer plastic and digital cards from their websites to attract new customers.
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