E-commerce is emerging as one of the top strategic priorities for retailers in 2024. Retail continues to evolve at a rapid pace. Consumers are increasingly demanding when it comes to online shopping experiences and ease of payment. As an e-merchant, you need to stay ahead of market trends to drive your online sales. To do so, one of the e-marketing levers to activate quickly is the e-gift cards:
- a booming tool, fueled by declining purchasing power
- an attractive payment method to acquire and retain customers
- a must-have marketing lever to boost your revenue
Read this article to discover the major upcoming trends for digital gift cards in retail!
The gift cards
A booming market
An estimated 9 million people receive gift cards each year. It’s a significant and growing market, expanding at an average rate of 10% annually.
French consumers are especially fond of it: 47% say they prefer receiving a gift card over another type of gift. It ranks among the top 3 most popular Christmas gifts in France. Secure, divisible, and omnichannel, it offers freedom of choice for both the giver and the recipient.
Digital gift cards are particularly standing out and becoming one of the most popular online payment methods. By the end of 2023, digital gift card purchases had increased by 13%. At the checkout stage, 16% more payments were completed using a gift card.
One major reason is inflation. According to an Adyen study, 78% of French consumers spend time hunting for good deals. And since it’s faster, they stick to e-commerce sites. So, online shopping it is.
E-gift cards
A major asset for retail brands
Customers now expect satisfying, seamless, and frictionless shopping experiences. According to Adyen’s retail study, 55% of shoppers say they abandon their online purchase if their preferred payment method isn’t available. And gift cards are among the essential payment methods. Losing those orders would be a shame.
In this digital age, not being able to offer or use a gift card on an e-commerce site is becoming unthinkable.
Petit Bateau experienced this firsthand. Before switching to an omnichannel program in 2022, this iconic French brand only sold and accepted gift cards in physical stores.
“We received a lot of customer calls, not to ask if we accepted gift cards online, but to ask how to use them.”
Myriam VAN DE CASTEELE – Omnichannel Customer Experience Project Manager at Petit Bateau
e-gift cards
What are the advantages?
The e-gift card provides a convenient and flexible shopping experience, perfectly suited to modern lifestyles. By integrating gift card purchase and payment options into your e-commerce site, you give your customers complete freedom. Freedom to choose the perfect gift for their loved ones, and freedom to choose a new payment method at checkout.
Simplified payment
Digital gift cards streamline the payment process for your customers. In just a few clicks, they can spend all or part of the card’s balance and check the remaining amount. It’s a smooth and hassle-free shopping experience.
Online flexibility
E-gift cards offer unmatched flexibility for online shoppers. For birthdays, weddings, births… it’s the smart gift, the last-minute gift, the guaranteed-to-please gift. And the cherry on top: the customer can send it instantly or schedule it for later, no matter where the recipient is in the world.
Loyalty driver
When integrated into your online sales strategy, the e-gift card is a great tool for customer retention. Don’t hesitate to offer special deals or rewards to gift card holders. It encourages them to come back to your site and spend more.
Online gift cards: a revenue booster
Digital gift cards are emerging as an essential marketing tool to grow your online revenue.
By investing in digital gift cards, e-commerce players unlock an additional revenue stream. And here’s something you should know: on average, a gift card recipient spends 1.4 times the initial card value. With free shipping, that’s a full cart guaranteed.
You’ll be boosting your online business growth.
A concrete example: King Jouet.
In 2020, the brand launched its omnichannel gift card program using the Easy2Play solution.
Since its launch, the digital gift card has shown exceptional annual growth:
- +150% revenue in 2021
- +60% in 2022
- +40% in 2023
By the end of 2023, digital gift cards accounted for 2.5% of King Jouet’s total revenue.
in 2021, Nature & Découvertes launched its digital gift card. the result? the brand saw an average top-up rate of 30% on its website.
Petit Bateau launched its digital gift card in october 2022. just two months later, online revenue increased by 33%.
What are the 2024 retail trends for digital gift cards?
Advanced personalization
retailers are increasingly turning to digital gift card solutions that offer advanced personalization features. it’s a way to create unique and memorable customer experiences.
features like adding personal photos or videos make the gift card experience even more special for the recipient. the recipient accesses the sender’s message by scanning a QR code—a simple and memorable moment that leaves a lasting impression.
promotional benefits linked to the use of these cards can also play a key role in attracting new customers. these marketing and commercial actions contribute to the sustainable growth of digital revenue.
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Omnichannel usage
Brands are aiming to offer a seamless experience to customers, regardless of the sales channel. With a gift card that can be used both online and in-store, retailers strengthen their presence and customer engagement on all fronts.
In 2024, retailers will go even further — beyond traditional sales points like physical stores and ecommerce websites. Posters, social media, live shopping… The race for profitability is accelerating.
Every communication channel must become a direct sales channel. Every consumer, from anywhere and at any time, should be able to make a purchase. And the gift card is no exception.
Vitreen
The digital gift cards, accessible anywhere, anytime, with no limits
Thanks to a QR code present across all customer touchpoints, any passerby, online visitor, viewer, or guest can purchase your digital gift card in just three clicks.
The digital gift card is far more than a simple online payment method. It’s a catalyst for success for retailers committed to an ecommerce strategy. It’s a powerful marketing lever for brands looking to boost sales, build loyalty, and stay competitive in a constantly evolving market.
By adopting this solution, you pave the way for exponential online growth. Don’t wait any longer!
