Despite the continued economic challenges of inflation and the possibility of a recession, 2022 was the highest revenue-generating year for gift cards since 2020, according to a recent gift card report by Paytronix.

While the total number of gift card sales dropped by 2% last year, gift card revenue rose by 6%. The reason? Consumers increased the amount loaded per gift card by 8%. The most commonly purchased card values were $50 and $100. 

Digital card sales were also up 6%, and the average value of a digital card vs. a physical gift card in both full-service and quick-service restaurants saw increases in dollars loaded on cards by as much as $82. Digital gift cards are a great promotional tool. They often bring guests back, help them purchase more, and increase customer loyalty. Digital gift card adoption will see a 23% increase by 2025.

The National Retail Federation (NRF) reported similar statistics in its annual consumer survey. The NRF found that gift cards are the most popular item on consumers' wish lists for the 13th year in a row.

Spring and Summer holidays are perfect for gift card sales.

There are many holidays and special occasions during Spring and Summer. Easter, Mother's Day, Father's Day, weddings, graduations, Independence Day, and back-to-school are all occasions when gift-giving is appropriate, and gift cards continue to be the most popular gifts. So, what will you do to boost your gift card sales this Spring? Here are several sales strategies.

1. Create unique gift card designs for the season's special occasions. Consumers like to buy gift cards in the spirit of the holiday, and new card designs will catch their attention. You can also encourage impulse buys with a cute and clever gift card display at checkout. You can only count on people buying something if you're actively trying to sell it.

2.  Make more sales. You get two sales in one with gift cards. The customer that purchases the gift card provides you with immediate revenue, and the person who receives the gift card gets an introduction to your business and often spends more than their gift card is worth. In addition, while this new customer is on your site, you can encourage continued engagement through email and social media to keep them coming back again and again. 

3.  Increase your online marketing. Send out a special marketing email focused on your newly designed gift cards. Pictures of your updated card designs are also great to post on your social media accounts. Consider creating special sales promotions. 

4.  Go digital. With Americans spending more time shopping online, there's never been a better time to incorporate digital gift cards into your product offerings. For consumers, the benefits are powerful – digital gift cards are easier to buy, give, and keep track of. For business owners, digital gift cards are convenient and secure, and they help you manage your inventory because they are easily trackable and build customer loyalty. If you haven't sold them before, now is a great time to start.

Whether you want to sell physical or digital gift cards, contact our partner, Card Market, today to get started. After all, the spring and summer holidays are just a few short weeks away.

Since 2005, Quikstone Capital has been a trusted advisor to thousands of merchants needing a cash advance for their businesses. If you accept credit cards, you could qualify for up to $250,000. It's a quick and easy process, and over 80% of our merchants return to Quikstone for additional capital. To learn how Quikstone can help your business, contact us today.