The Ultimate Guide to Preparing for the 2024 Holiday Season: Gift Card Promotions Should be on Your Radar

The Ultimate Guide to Preparing for the 2024 Holiday Season: Why Gift Card Promotions Should be on Your Radar for Hotels, Restaurants, and Retailers

The 2024 holiday season is just around the corner, and hotels, restaurants, and retailers everywhere are gearing up for the busiest time of the year. With holiday sales projected to reach $1.3 trillion in 2024, according to the National Retail Federation, it's essential to ensure that you're not overlooking one of the most critical aspects of holiday sales: gift cards. In this post, we'll explore the importance of running gift card promotions and provide you with some valuable tips to help you make the most of this lucrative opportunity.

Why Gift Cards are a Holiday Goldmine for Hotels, Restaurants, and Retailers

Gift cards are a staple of the holiday season, with over 70% of consumers saying they prefer to receive a gift card over a physical gift. This is because gift cards offer the recipient the flexibility to choose something they really want or need. For hotels, restaurants, and retailers, gift cards are a golden opportunity to drive sales, increase revenue, and build brand loyalty.

Here are just a few statistics that highlight the importance of gift cards during the holiday season:

• $212 billion: The estimated amount spent on gift cards during the 2023 holiday season. (Source: National Retail Federation)
• 82%: The percentage of consumers who say they plan to purchase gift cards during the holiday season. (Source: National Retail Federation)
• $130: The average amount spent on a single gift card during the holiday season. (Source: GiftCardGranny)
• 52%: The percentage of gift card recipients who spend more than the face value of the card. (Source: CEB TowerGroup)

The Benefits of Gift Cards for Hotels, Restaurants, and Retailers

Gift cards offer a range of benefits for hotels, restaurants, and retailers, including:

• Increased Sales: Gift cards can help drive sales and increase revenue during the holiday season.
• Improved Customer Loyalty: Gift cards can help build customer loyalty and encourage repeat business.
• Flexibility: Gift cards can be used across multiple channels, including online, in-store, and on mobile devices.
• Convenience: Gift cards are easy to purchase and redeem, making them a convenient option for consumers.
• Data Collection: Gift cards can provide valuable data and insights on consumer behavior and shopping habits.

The Value of Gift Card Promotions for Hotels, Restaurants, and Retailers

Gift card promotions are an excellent way to drive sales, increase revenue, and build brand loyalty. Here are some statistics that highlight the value of gift card promotions:

• 42%: The percentage of consumers who say they are more likely to shop at a store that offers gift card promotions. (Source: Nielsen)
• 32%: The average increase in sales seen by retailers who offer gift card promotions. (Source: GiftCardGranny)
• 27%: The percentage of consumers who say they would purchase more gift cards if offered a discount or promotion. (Source: Nielsen)
• 22%: The average increase in customer loyalty seen by retailers who offer gift card promotions. (Source: CEB TowerGroup)

Types of Gift Card Promotions for Hotels, Restaurants, and Retailers

There are many different types of gift card promotions that hotels, restaurants, and retailers can offer, including:

• Buy One Get One Free (BOGO): Offer a free gift card with the purchase of a gift card of equal or greater value.
• Discounted Gift Cards: Offer discounted gift cards for a limited time to drive sales and increase revenue.
• Free Gift Card with Purchase: Offer a free gift card with the purchase of a specific product or service, such as a hotel stay or dining experience.
• Gift Card Bundles: Offer bundles of gift cards at a discounted rate to incentivize customers to purchase multiple cards.
• Limited-Time Offers: Create limited-time offers, such as "24-hour sales" or "flash sales," to drive sales and increase revenue.

Tips for Running Successful Gift Card Promotions for Hotels, Restaurants, and Retailers

So, how can you make the most of gift cards this holiday season? Here are some valuable tips to get you started:

• Start Early: Begin promoting your gift cards early to capitalize on early holiday shoppers.
• Offer Incentives: Provide incentives, such as discounts or free shipping, to encourage customers to purchase gift cards.
• Make it Digital: Offer digital gift cards to make it easy for customers to send and receive gifts.
• Personalization: Allow customers to personalize their gift cards with names, messages, and custom designs.
• Limited-Time Offers: Create limited-time offers, such as "buy one get one free" or "free gift card with purchase," to drive sales.
• Promote Across Channels: Promote your gift cards across all channels, including social media, email, and in-store displays.
• Track and Analyze: Track and analyze your gift card sales and redemption rates to optimize your strategy.
• Integrate with Existing Systems: Integrate your gift card program with your existing point-of-sale, loyalty, and marketing systems.

eGiftify: Your Partner in Gift Card Success

At eGiftify, we understand the importance of gift cards in driving holiday sales and building brand loyalty for hotels, restaurants, and retailers. That's why we offer a comprehensive digital gifting, loyalty, and engagement solution designed to help businesses like yours succeed.

With eGiftify, you can:

• Sell Gift Cards Online: Sell digital gift cards on your website or through our platform.
• Personalize and Customize: Personalize and customize your gift cards with names, messages, and custom designs.
• Track and Analyze: Track and analyze your gift card sales and redemption rates to optimize your strategy.
• Integrate with Existing Systems: Integrate our solution with your existing point-of-sale, loyalty, and marketing systems.

Get Ahead of the Game

The 2024 holiday season is just around the corner, and hotels, restaurants, and retailers who are prepared will be the ones who come out on top. Incorporating gift card promotions into your holiday strategy can drive sales, increase revenue, and build brand loyalty.

So, what are you waiting for? Start preparing for the holiday season today and make eGiftify your partner in gift card success. Contact us to learn more about our digital gifting, loyalty, and engagement solution and how it can help you achieve your holiday goals.