In a time when competition for customers is intense, many business owners face the choice between offering gift cards or discounts as a sales strategy. With modern solutions like WeOrder and an efficient POS system, both options are easy to implement, but which strategy provides the most value for your business?
Gift cards represent more than just a prepaid value. They create a range of unique business opportunities:
Gift cards provide your business with several significant economic advantages. You receive payment upfront, which improves your cash flow. Statistically, customers often spend more than the value of the gift card, which increases your average order size. Additionally, around 10-15% of gift cards are never redeemed, which directly impacts your bottom line.
Gift cards act as little ambassadors for your business. They:
Discounts can be a powerful tool for driving sales and customer engagement:
Discounts have a direct and measurable effect on sales. They can:
Discounts allow you to be agile in your marketing. You can quickly:
To choose the right strategy, it is important to understand the different effects:
Regardless of which strategy you choose, successful implementation is crucial:
A modern POS system makes it easy to:
Timing is crucial for both strategies:
To maximize the effect of your chosen strategy:
The choice between gift cards and discounts does not have to be an either-or situation. The optimal strategy often combines both tools at different times and for different purposes. The most important thing is to:
With the right tools and a well-considered strategy, both gift cards and discounts can become valuable instruments in your toolbox for customer attraction and revenue growth.