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<pstyle="font-size: 12px;">The global gift cards market size was valued at $619.25 billion in 2019, and is projected to reach $2,076.51 billion by 2027, growing at rate of 16.2% from 2020 to 2027 based on market trends, according to a recent report by Allied Marketing Research.The culture of gifting specific items has evolved over time towards buying gift cards to give the recipient more choice and flexibility. Businesses such as Starbucks, Target, Macys, Nordstrom’s and even grocery stores have leveraged this growing trend to successfully grow their revenues, brand awareness and customer base. In the past couple of decades, the internet has made it very convenient to send gift cards electronically to loved ones. With recent travel restrictions due to Covid, we have seen this drive even greater growth in gift card sales. The increasing availability of gift cards in fully digital formats where they can be sent, tracked and used online, has driven an increase in demand among consumers, including young adults, who conduct most of their transactions online</p>
<h6class="survey-heading-2">3 out of 4 millenials</h6>
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<p>would rather spend their money on an experience than buy something desirable and this “experience generation” is now a third of the U.S. population.</p>
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<p> While experience can cover a broad range of activities, <b>beauty and wellness experiences are amongst the most meaningful experiences that can be accessed by people in a city at almost any time and within easy reach.</b> There is tremendous and growing interest in wellness and rejuvenation to combat the stresses and impact of everyday life, and there is a very significant opportunity for salons and spas to capture this market through gift cards. When your core business is around making people look and feel good, you are one of the best places for consumers to buy a gift of experience for their loved ones.</p>
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<p><b>This growing trend in gifting beauty and wellness services is also validated when we look at our customer data.</b> We looked at our top 10 customers with a focused gift card program and found that their gift cards grew by XYZ percent over last few years, making up ABC% of their overall revenue. Clearly these gift cards are having a big impact on their overall revenue and profitability.</p>
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<p><b>Gift cards can be brought to life with creative promotions and strategies that bring in new customers and make existing ones more satisfied. For example, when a salon offers a customer a bonus value or bonus gift card when they buy a gift card, they make the offer even more compelling. The gift receiver usually spends more than the value of gift card and gets exposed to more services or more high-end services, which makes it more likely that you will retain them. That makes the discount worthwhile. Such creative strategies have worked very well for our key customers and made gift cards a particularly important strategic tool for beauty and wellness busine</b></p>
<h6class="sub-heading mb-3"><b>Why are gift cards important to your business?</b></h6>
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<p>When used to their full potential, gift cards can significantly increase profits and draw new customers to your center. How? By turning existing customers into brand loyalists and expanding the market through their influence</p>
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