Gift cards remain one of the most popular gifting options. Yet programs operationalizing gift cards are being met with significant dissatisfaction among retailer decision-makers who are lukewarm, at best, about their current gift card solution providers. In a recent RetailDive studioID Survey, sponsored by GiftNow, 68% of respondents responsible for e-commerce operations reported that they are only somewhat or less than satisfied with their current gift card program and provider.
Why So Much Gift Card Dissatisfaction?
This dissatisfaction may indicate there is a need to enhance the gift card experience across retailers’ e-commerce operations. The survey also found that 44% of respondents are making investments in gifting technology this year to improve their digital gift card offerings.
The research findings are based on data analysis from an online survey conducted in May 2021 of 187 retailer decision makers with e-commerce responsibilities.
Retailers are Evolving Their Gifting Strategies
Gift cards have served as the primary gift offering for decades, and retailers are evolving their gifting strategies to make more of their merchandise giftable. Unfortunately, legacy gift card solutions have not kept pace with the increase in digital commerce and continue to live in an analog world. Gift cards need to evolve with retailers focusing on making them a more frictionless, personalized and omnichannel experience. Thankfully, retailers are upping their investment to ensure that happens.
25% of retailer decision-makers surveyed said they are not satisfied with their brands’ approaches to ensure that digital gift cards represent the majority of total gift card sales in 2022. This result is motivating retailers’ increased investment in enhancing the digital gift card experience.
New Gift Card Research
Recent gift card research from Incisiv found that there are four pillars for improving gift cards in digital commerce, including:
- Differentiate digital gift card programs by making gift cards more visible and easier to purchase on websites and mobile devices
- Offer more flexible sending options and personalized unboxing experiences
- Integrate gift cards into omnichannel offerings
- Enable recommendations to help the shopping experience.
You can learn more about how retailers can inject some needed innovation into their gift card programs here.