Do you have a few gift cards leftover from the Holiday Season? You are certainly not alone here. Inevitably, many shoppers will give up on finding the “perfect gift” and buy their family and friends gift cards. And it’s not just a lazy gift. The National Retail Federation says that 61% of Americans ask for gift cards for Christmas. In fact, gift cards have actually been the most requested present for more than a decade.
Why This Is Good News for Retailers
Just as people love receiving gift cards, retailers love selling them. When a retailer sells a gift card, they receive revenue right away. It is up to the gift card holder to redeem the gift card for any goods or services the retailer offers. It might be surprising, but some people actually never redeem their gift cards. And those that do often spend more than the actual gift card amount. Two-thirds of people who redeem their gift cards will spend, on average, 40% more than the gift card limit, making it a lucrative promotional tool for retailers.
However, in order for brick and mortar stores to maximize these benefits and many others, they will need to optimize the process at the point-of-sale. These stores will hire POS providers to develop a custom solution that includes gift card integration. This is where Chetu, a company that offers world-class software solutions, can help. Chetu has worked with a number of POS providers to develop custom software solutions for their clients. Chetu has no complaints from these POS providers because its engineers have industry-specific experience and maintain real-time communication throughout the process.
With the help of Chetu, these providers can deliver solutions that will benefit their retail customers in a number of ways in addition to gift cards. Consider this scenario. Someone comes into a store with a gift card, and they go up to the front with the item they want to purchase. While checking out, the customer service representative pitches them about their loyalty card, which provides additional discounts and perks. The customer agrees to sign up for the program, and the store has a repeat customer.
Cash register software enables stores to offer a loyalty program that can track customer data and offer discounts and other promotional items. It is a must for brick and mortar stores that are looking to compete in this increasingly competitive environment, which is why POS providers must partner with the best.