December 05, 2017
Givex®, the cloud-based customer engagement solution that helps to streamline business operation from end-to-end, is using innovation to help retailers reach more shoppers than ever before this holiday season.
The $124 billion global gift card industry means big business during the holidays. Gift cards are the most-requested gift and are so desirable because they provide flexibility for consumers, but can also create headaches for retailers who aren’t prepared. With 80% of consumers having either given or received a gift card in the last year, the stakes are high. Gift cards can offer valuable cross promotional and loyalty opportunities, drive new customer acquisition, and boost retail sales, since 72% of recipients spend more than the value of their card.
Givex has been a pioneer in the gift card space since its founding in 1999 and the brand’s experience in the space has resulted in critical new innovations that have shifted the industry’s thinking on what it possible from gift card technology. From processing to production and fulfillment, Givex makes it easy for retailers to start a gift card program tailored to their specific needs. Givex also ushered in a digital revolution, transitioning traditional plastic gift cards to e-gifting, allowing instant delivery, better fraud protection, online balance management options and boosting the ability to turn a gift card into a mobile wallet.
“This year, consumers will spend an average of $213 on gift cards, creating an incredible opportunity to boost loyalty and repeat visits,” said Don Gray, CEO of Givex. “More than 55% of gift card recipients require more than one shopping trip to spend the entire balance of their gift card, and it’s a more convenient option for shoppers who are worried about choosing the wrong size, style or model for someone else. Ultimately, gift cards create more profit for the retailer and waste less time for the consumer. It’s a win-win solution for both sides to help avoid holiday season shopping stress.”
Givex has completed more than 16 billion transactions across its global network of data centers and operates in 55 countries worldwide, continuing to grow its influence in the gift card space. By directly linking e-gift cards to a retailer’s loyalty program, Givex further boosts engagement, increasing the chance that consumers will visit the location or website again. This also provides retailers with the ability to surprise consumers by offering unexpected rewards or discounts around the holidays.
All of these transactions contain valuable data for retailers as well, and Givex’s Vexilor™ POS system is designed to capitalize on that. Created to integrate seamlessly with Givex’s full suite of gift card and loyalty products, Vexilor presents an advanced new end-to-end option for retailers to help better target their customer base across all interactions, not just gift card redemptions.
“Mobile shopping, browsing and e-gift cards are a critical part of holiday retail strategy and tying them together with best-in-class loyalty programs and point-of-sale technology makes those transactions truly powerful for both retailers and consumers,” said Gray. “By facilitating these seamless connections we’re making it easier for retailers to create stronger, more meaningful relationships with consumer base. The same advanced technology and analytics built into Givex’s cloud-based gift card platform nearly two decades ago now provides endless possibilities to improve the conversation for retailers for many holiday seasons to come.”
Givex is a global cloud-based operations management solution designed to streamline business efficiencies and generate valuable and actionable customer data. Since its founding in 1999, Givex has provided operational intelligence across a wide of variety of industries, from restaurant and retail to hospitality and the service sector, offering a fully integrated suite of customizable products, including gift cards, loyalty, Vexilor™ point-of-sale (POS) system, Tiqer™ Tableside Ordering and Rx Analytics. Givex’s Uptix™ ticketing solution transforms traditional sports or event tickets into a mobile interactive platform, providing event managers with new insights into their customer base and the ability to elevate the fan experience. With more than 16 billion transactions conducted across more than 55 countries, Givex is at the forefront of how brands will compete for customers now and in the future. For more information about Givex please visit http://www.givex.com/.
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