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A thoughtful corporate gift is a great way to appreciate your employees, customers, and channel partners. Adopting a consistent corporate gifting strategy can help in creating your brand awareness and most importantly forge lasting business relationships with these key stakeholders.
One of the most popular corporate gifting options is a gift card. With businesses reopening, retailers are looking for innovative ways to win back customers to their stores. Keeping this in mind, adoption of gift cards is seeing a massive increase as it supports retailers with upfront cash flow and an assurance that the customer will make another purchase during the validity of the card period.
Qwikcilver, a subsidiary of Pine Labs is one of the leading names in the gift card space. Talking to TOI, co-founder and CEO, Qwikcilver, Kumar Sudarsan said, "Last year, we did around Rs 14,000 crore of gift cards. The lockdown did impact sales in the first quarter. But now we are back to 70% of pre-Covid-19 levels." 1
Recently, Qwikcilver joined hands with brands like Taj Hotel, Tanishq, PVR Cinemas, and Big Basket. As a limited-time offer, PVR Cinemas is offering its gift cards at a discount of 30 percent, Hidesign is offering a discount of 15 percent on purchases made on its gift card, and post September, Croma will be offering a discount of 5 percent on purchases made on its gift card. 2
Benefit of gift cards
#1. Improve brand awareness
Gift cards extended to customers and channel partners help in building your brand's image. For instance, imprinting the company's logo on gift cards can constantly remind your customers about your brand, in addition to the word of mouth impact it can create to attract new customers.
#2. Help in relationship building
Gifts leave a lasting impression on the receiver and help in building a cordial business relationship between the giver and the receiver. Be it your employees or customers, showing appreciation through gift cards helps in strengthening business bonds and ties.
#3. Secure modes of transaction
Gift cards are convenient to offer and are far more secure modes of transactions and can be easily redeemed.
#4. Build customer loyalty
Earning the loyalty of your customers and employees is important to make them stick around your brand and organisation in the long run. Offering gift cards will keep them happy and satisfied and they are likely to stay with you for a longer time.
The magic of gift cards
With the world going contactless, e-gift cards are a great option for all reasons and seasons. When we talk of gift cards, one of the key parameters that should always be kept into consideration is the personal touch. Personalisation can do wonders and can help in further strengthening the bond.
Pine Perks, our reward and gifting solution is customisable and redeemable at online stores and retail outlets. Your customers can choose from multiple gifting modes redeemable at retail outlets and online stores.
So, if you are looking to forge lasting business relationships corporate gifting is one good option to consider. For more information, do visit our gifting product page.
1 Source: https://timesofindia.indiatimes.com/business/india-business/retailers-use-prepaid-gift-cards-to-get-assured-biz/articleshow/76842732.cms
2 Source: https://timesofindia.indiatimes.com/business/india-business/retailers-use-prepaid-gift-cards-to-get-assured-biz/articleshow/76842732.cms
By Vinisha Kataria | on February 28, 2021
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