The
gift card industry finds that demand just keeps growing. The National Retail Federation has reported that gift
cards are the No. 1 requested gift during the holiday season for more than 10
years, and it doesn’t look like it will be any different in 2018.
While the incentive industry
has seen continuing growth and interest in electronic and mobile gift cards, new
research indicates that planners should not count out physical gift cards for their
awards programs. New Findings from
National Gift Card show that three out of four incentive recipients still
redeem their loyalty points for physical gift cards.
NGC has thousands of
corporate clients that connect to their inventory of more than 500 physical and
digital brands. According to their B2B
Gift Card Report:
75 percent of the volume in gift card program
redemptions is still in physical cards, while just 25 percent is for digital
gift cards.
Of
the total gift cards used, closed loop cards (retail branded) had 26.8% of the
total volume of gift card programs, while closed loop cards (banks, Visa. MasterCard
etc.) were are 21.8%.
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