Gift Card Program Basics and Features Every Business Needs
The gift card industry is projected to increase to more than $400 billion in 2019, with a 10% average annual growth rate. That means by 2025 the gift card industry will surpass $700 billion. As a business owner, this may be something you want to keep an eye on. If you haven’t, already, you may want to consider starting a gift card program.
What Is A Gift Card Program?
A gift card program gives customers an option to buy gift cards that carry a balance and can be used at your retail store or restaurant at a later date. Similar to a plastic credit card, gift cards can be loaded using a Point-of-Sale (POS) system like Bepoz that has gift card capabilities.
Business owners like this concept because it allows for an increase of cash flow without losing inventory right away, and more than 1 billion dollars is unspent in gift cards each year. As the business owner, you keep that unspent money by the consumer in your pocket.
How Does a Gift Card Program Work?
It’s a very simple process to purchase a gift card. First, the cashier collects the payment up front in a transaction through a POS system. Bepoz allows for a plastic gift card with a barcode if you choose. The barcode is easy for scanning at any POS terminal or a number can be keyed in. The employee keys in the amount on the POS system and processes it. A receipt with the card is printed. The customer can now give the card away, and the receiver of the gift card can use it at a later date.
What Are the Top Features of Bepoz’s Gift Card Program?
- Add any dollar amount to the card when sold
- Third-party software integration
- Easy to sell and redeem
- Offers real-time tracking, simplifying reporting
- Easy to sell, redeem, and pull data at the POS terminal
- Can be reused.
- Can be redeemed in person or online
Whether you are a retailer or a restaurant owner, growing a business is tough. It’s key that all angles of increasing revenue is explored, and with the gift card trend expected to grow, it’s clear that a gift card program is something that should be considered. It is simple and easy with Bepoz. Give us a call for a demo today. Let’s talk about how our gift card program can help your business grow.