Order those gift cards now to be ready for the holiday rush
Elavon • Article • U.S. Payment Smart (September 2024)
1 min. Read
Gift cards will make up a significant portion of consumers’ holiday spending, consistent with the growth of the industry in recent years.
The Gift Cards market is projected to grow* from $980.7 Billion in 2023 to $3,736.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 18.2% during the forecast period (2023 – 2032).
Now is when you should reorder your stock of gift cards, so you are ready to tap into this revenue stream in time for the holiday shopping season.
Promotional cards can also be a way for your retail operation to incentivize shoppers and build repeat business. They are more than a last-minute gift option, according to a report in Payments Journal.* Retailers can offer them as a reward when a customer purchases a high-value item, for example.
Give yourself the gift of time
Don’t delay placing your gift card reorder, as production timeframes become longer during peak seasons. For those with an existing gift card program with Elavon, please follow your usual gift card reordering process. If you don’t offer gift cards but would like to begin, contact your Customer Account Manager to get started.
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