Businesses are injecting omnichannel gift card strategies into their business models to elevate the shopping experience

Print

Email

Most businesses are adopting omnichannel strategies to bring consistency across both online and in-store buying experiences to provide a seamless shopping experience to the customers. Supply chain management, payments, product availability, and gifting are all components of the customer experience that require consistency; therefore, businesses always look for new, innovative solutions to encourage omnichannel adoption. Though digital gift cards do not solve integration problems, they offer a packaged payment solution. Thus, gift card technology processing providers are attracting clients from several sectors due to their flexibility of design, making sending, delivery and redemption easier for the gift giver as well as the gift receiver. For instance,

• In July 2022, Givex Information Technology Group Ltd., also known as Givex, a key leader in omnichannel processing of gift cards, loyalty, and digital merchandise credit, announced the launch of a gift card program with a retail chain, Pague Menos. Notably, Pague Menos is a Brazilian pharmacy retailer which offers around 16,000 items, including prescription and over-the-counter medications, multivitamins, hygiene, beauty products and more, from 440 different providers.

The result of the partnership, the Pague Menos gift card, will now be sold through mobile wallets and can also be purchased through the GivexHub partners, namely, PicPay, Meliuz, and Kabum! capturing more than 70 million users. Notably, GivexHub is the central platform of the gift card technology processing company connecting all major sales channels and partners. This gift card will be launched in two phases. Initially, customers will be able to redeem their Pague Menos gift cards on the Pague Menos website post the first phase launch. While in the second phase, customers will be able to purchase and redeem the cards at Pague Menos locations in the country.

This will enable Givex to track the real-time performance of the Pague Menos gift card program in all major B2C and B2B sales channels partners in Brazil with its integrated business intelligence. This will enable Pague Menos to maximize the reach of the brand and product presence capacity in Brazil. Additionally, the integrated health hub will also be able to use data intelligence in order to measure the numbers in each and every sales channel, thereby employing an appropriate sales strategy to generate revenue in the country. 

Givex has been revolutionizing the payments industry through its omnichannel platform for processing gift cards, loyalty, and digital exchange vouchers throughout the Americas, EMEA, and ASEAN markets. Specifically in Brazil alone, the platform had processed around R$7 billion in transactions through partnerships with the country's retailers, service providers and hospitality service providers. Therefore, this expansion into the pharmaceutical industry is expected to provide Givex with diversity in its range of merchants through its technology and business intelligence tools.

Likewise, the company also entered into strategic partnerships with companies in several other sectors, helping them expand their market share in their respective fields. For instance,

• In February 2022, Givex announced a digital gift card program with Canada-based professional sports company Maple Leaf Sports & Entertainment Ltd. (MLSE). Through the gift card program, the sports company will be able to turn physical gift cards into digital versions and will roll out the gift cards in two phases for its teams' fans in all the stores of MLSE.

Initially, the fans can redeem the gift cards on the company's site and the mobile app in phase one. Notably, the company's season ticket members will be able to use the gift cards to buy products, including food, through the member credits. Scotiabank Arena, BMO Field, E11even, Real Sports Bar, and Real Sports Apparel are the venues applicable to this provision. In the second phase, there will be provision for the fans to buy digital credits from the MLSE website as well as from their mobile apps, helping them to use them in the company's venues. In addition to the above venues, the fans will be able to use the digital credits in OVO Athletic Centre, Coca-Cola Coliseum, Ford Performance Centre, TFC Academy, and Lamport Stadium.

Since most customers, especially millennials prefer engaging in experiences, the omnichannel strategy has become indispensable for brands and businesses. Moreover, with the rise of smartphone usage and the internet, offline communications take a back seat and thus, this digital, online component of this type of mission-specific gifting renders the whole process more convenient, instantaneous, and tactful. Additionally, these digital gift cards possess the ability to influence consumer behavior and drive sales. Thus, more businesses are viewing gift cards as the backbone of a business initiative to drive different behaviors and spending patterns, seeing top-line growth.

To know more and gain a deeper understanding of global gift card industry, click here.