09 Dec Gift Cards: The fastest growing giveaway for the last 10 years
By this point in human history, almost everyone in the modern world has received a gift card. It is wild to think about, but it’s true. We give gift cards as employee incentives, to picky family members, and they are bought at non-profit auctions. As a business owner or manager is your business getting the advantage of the fastest growing and most popular purchased item on the market?
Gift cards continue to be on the top ten wish list of everyone for holidays and special occasions. This simple plastic item allows for the single easiest return on investment for restaurants and retail establishments. With the average card costing less than $1.50 and the average gift card load being around $40, it is a no-brainer. This coupled with 23% non-redeemed rate means a gift cards’ instant ROI makes perfect sense for business owners:. Let’s take a look at the math:
$40 card load x 23% unredeemed rate = $9.20 non-redeemed per card
$9.20 non-redeemed card value – $1.50 per card average cost = $7.70 per card profit
With this basic equation, businesses engaging in the gift card space always end up on top. Either through non-redeemed cards or the marketing value of gifting to a new customer; the return on investment for gift cards is unmatched.
MPI Point of Sale is a full-service point of sale company offering custom gift cards for terminals, Vend POS, and Lavu POS . MPI prints and designs all cards in-house so you get a white glove experience and even help to design a program.
MPI – MPI Point of Sale provides credit card processing, check processing, payroll solutions, ATMS, gift/loyalty and point of sale services. MPI works with small businesses, restaurants, hotels and seasonal merchants to enhance their operations using technology and by providing top-notch customer service. For more information, please visit our website: http://mpipos.com. Feel free to contact us At 1-800-518-5020