December 17, 2014

Why Holiday Gift Cards Are the Perfect Way to Thank Employees and Partners

The holiday season is a time to say thank you, especially to your employees and partners for their hard work and loyalty to your business. But what is the best way to show your appreciation? A gift that is both practical and useful would be welcomed by your employees and partners alike. This is one of several reasons why holiday gift cards are the perfect way to say thank you.

Here are more reasons why you should consider holiday gift cards for employees and partners:

Employees and Partners are Shoppers

The second reason why gift cards are the perfect gift is because your employees and partners are shoppers. They shop for friends and family just like everyone else, and gift cards are a convenient way to do this. Their popularity is huge and growing. According to a press release from the National Retail Federation, holiday shoppers are projected to spend more than $31 billion on gift cards this year. The reason for their popularity is simple: your employees and partners are shoppers and shoppers love gift cards, so give them what they want.

Gift Cards are a Top Recognition Reward

In addition to being a great way to say thank you, gift cards are also a top recognition reward used by almost half of all U.S. businesses. A new article from meetingsnet.com and the Incentive Research Foundation shows that except for a brief time from 2008 to 2009, the gift card market has shown consistent growth. “While originally thought to be preferred for the choice or value they offer, it now appears they are often chosen for their ease of use and flexibility,” said Melissa Van Dyke, the article’s author and president of the IRF.

Gift Cards are Preferred to Cash Rewards

The debate around which is a more effective reward, gift cards or cash rewards, is ongoing. When you look beyond the obvious reasons and begin to understand some of the psychological impacts, you will learn that gift cards offer much more than cash rewards ever could. For example, gift cards provide trophy value, which cash does not. When an employee uses a gift card, they remember where it came from and why they received it, whereas cash is not distinguishable. For additional reasons why gift cards are better suited for rewarding employees compared to cash, we look at a recent study from the Incentive Gift Card Council.

The benefits that come from using gift cards to show your appreciation make your gift-giving decisions this holiday season easy. But you don’t have to limit the use of gift cards to the holidays. The reasons that make them a great holiday gift also make them a great addition to your rewards and recognition programs. To learn more about gift card rewards or to inquire about adding them to your rewards and recognition program, contact a Marketing Innovators representative today.

 

Sources:

  1. “2014  Incentive Merchandise/Gift Card Survey: The IRF Perspective,” by Melissa Van Dyke, Meetingsnet.com, Sept. 9, 2014.
  2. Press release, National Retail Federation, Nov. 13, 2014, “Holiday Shoppers Spend More Than $31 Billion on Gift Cards This Year, According to NRF Survey.”
  3. Incentive Gift Card Council White Paper: “Corporate Incentives – 10 Reasons Why Gift Cards Are More Compelling  Than Cash

By submitting this form you agree to receive electronic messages from Marketing Innovators containing news, updates and promotions. You can unsubscribe at any time.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form