Thing – Digital gift cards, also known as electronic or e-gift cards, are codes from retailers usually delivered to clients via email. Digital gift cards work similarly to physical gift cards. For instance, both are usually loaded up with a specific amount of money that can cover the cost of purchases from a particular retailer or business. The difference is that digital gift cards are usually delivered using technology like email, smartphone apps, social media, or SMS texts. On the other hand, the physical ones are usually given in paper form. Depending on the retailer or the card provider, you can use a digital gift card online or at a physical store.
Digital gift cards are fast becoming a thing. Below are some reasons why this is the case.
Table of Contents
They help increase sales for businesses
Digital gift cards are becoming more accepted in this current era because they help businesses increase their sales. According to research, digital gift cards are the most popularly requested gift during various holidays like Christmas. Therefore, businesses with digital gift cards have a better advantage over their counterparts. It has also been reported that, more often than not, when people use digital gift cards, they end up spending more than the card’s worth.
It is also worth mentioning that digital gift cards can help increase a brand’s awareness, increasing a business’ revenue. Additionally, they also help businesses gain customer loyalty, which increases their sales and revenue. More businesses have started realizing the benefit of digital gift cards for their business growth. Therefore, more and more companies are adopting the application of these cards as a marketing strategy.
They are convenient and secure
Digital gift cards are also fast, making physical gift cards obsolete because they are more convenient and secure. Unlike physical gift cards, digital ones cannot be stolen or lost. They cannot get damaged and are also easier to purchase. Therefore, they can achieve the purpose for which they were applied. For instance, the fact that they cannot get lost means that they will most definitely be applied, benefiting the retailers as intended.
They are a good substitute form of payment
Digital gift cards are also becoming popular because they are an excellent form of payment. For instance, they are safer than conventional money and using credit cards. They are significantly safer for online shopping, where cyber theft and attacks have recently become rampant.
Their link to the crypto market
In the current digital era, the crypto market is perhaps the most significant thing to happen. Cryptocurrencies like bitcoin have become the subject of conversation in the finance industry. In fact, bitcoin is fast going mainstream. For instance, many businesses are moving towards allowing their clients to pay for products and services using crypto payments. The link between crypto and the gift card phenomenon has played a significant role in digital gift cards increasing in popularity.
You can use the crypto payment, buy cryptocurrencies, or buy bitcoin and use it to buy gift cards. Many platforms like Coin Gate allow clients to buy gift cards with cryptocurrencies. This has opened up digital gift cards to a new market. For instance, more people have an easier time buying gift cards because of the versatility of cryptos. Therefore, this is a primary factor contributing to the fast-rising popularity of digital gift cards. As more people buy cryptocurrencies, other niches associated with it also keep growing.
Digital gift cards also make appropriate gifts for holidays and special occasions. They are also easy to acquire. You can, for instance, buy Walmart gift card using crypto payment and use it at any physical or online Walmart store. A lot of other businesses are offering digital gift cards for their customers and partners. For this reason, businesses should consider digital gift cards as part of their marketing strategies.