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3 Reasons why you need to be selling gift vouchers this Christmas

By December 6, 2018 No Comments

To get more sales this Christmas you need to be selling gift vouchers.  And we’re here to tell you why!

 

1. People spend more at Christmas

 

Spending at Christmas is increasing year on year.

The average British family spends a whopping £821.25 on gifts, food and drink at Christmas.

As it shows, Christmas has a unique effect on people when it comes to buying gifts for someone special. People are happy to spend more than originally budgeted, especially if it’s the right gift.

Choosing the right gift is becoming more and more important to buyers. Gift giving is not simply the exchange of a physical object anymore, it’s a form of communication. “When you give a gift to someone, what you are actually doing is speaking to them”. And when it comes to the right message, the price is almost irrelevant.

To make the most of the spontaneous spending this Christmas, offer your most prized gifts. Provide those gifts that shout, “you are special!” And what better way to do that than to offer an experience voucher?

Our figures show that 60% of annual gift voucher sales are sold in November and December. Half of the November Gift Voucher sales are due to Black Friday and Cyber Monday. And Christmas spending in December sees double the sales of November for gift vouchers.

There’s even more money to be made!

Experience gift vouchers are proven to generate more revenue. Our data shows that 12-25% of all gift vouchers go unredeemed. This can be due to the voucher expiring, so buyers purchase an extension on vouchers. Or simply they never get around to spending it. So as you never pay out a service cost, you keep all the profits from the voucher.

Even more so, we have found that 72% of people spend more than the face value of the voucher. For example, a 3 Course Dinner for Two voucher will have a bottle of wine added on the night.

Gift vouchers are typically brought for other people, over 60% of people say they have been introduced to a new brand through receiving a voucher with 18% becoming regular customers as a result of their experience.

So, pull out all the stops to get your fancy 2 Rosette restaurant and overnight stay package in the form of a gift experience voucher. There’s no time like Christmas to begin.

 

2. People are looking for unique and memorable Experience gifts

 

Experiential gifts are scientifically proven to be preferred over material gifts.

Researcher Dr. Thomas Gilovich, a psychology professor at Cornell University, has found that initially overall happiness with material and experiential purchases is approximately equal at the time of receipt. Then amazingly satisfaction with the experience gifts increases over time. Whereas the overall satisfaction decreases with material things.

And it shows.

36% of consumers will spend more on a gift experience voucher over a traditional gift.  The rest spend the same amount.

The UK’s high streets have had a devastating year. Taking a hit of more than 4,400 shops, pubs and restaurants closures in just the first 6 months of this year. Whereas incredibly, consumer spending on experiences has shot through the roof. Demonstrating a drastic change in consumer buying habits.

The dining industry is proof of this. The restaurants who are offering unique dining experiences are thriving, whereas high profile restaurant groups including Gourmet Burger Kitchen and Jamie’s Italian, are facing many closures.

 

3. People want an easy shopping experience

 

Selling experiences on a dedicated online system will double sales. Our customers The Brookstreet Hotel, voucher sales grow 30% year on year with us. While another customer of ours, The Celtic Manor Resort, has moved from £700k to £2.3 million in annual voucher sales. 

There has been a revolutionary switch to online shopping. It may be the speed, the convenience, the 24-hour availability or the wealth of choice, and even all from your mobile. With E-commerce sales jumping up by 15.5% in the last year, it’s clear an online sales presence is a must.

Many people love hitting the shops at the festive time. but many try to stay away from the mad rush- especially on weekends and evenings. It’s too crowded and the parking is bad. So an increasing amount of consumers are looking for the easiest way to buy gifts, especially ones they don’t need to be at home to receive.

That’s why gift vouchers are perfect. They can be bought easily online, with the easiest delivery of all. Either posted through the letterbox or even sent discretely to an email address. No more heading over to the post office depot on weekends or popping over the neighbors and embarrassingly asking for another parcel.

And even if you didn’t catch the right gift in the run-up to Christmas, you can quickly pop online and save yourself with a last minute gift! 

Gift Experience vouchers and cards are the best last-minute gifts. We even see thousands of gift voucher sales on Christmas Day with Enjovia!

We really do! So join the gift voucher club this Christmas and dramatically increase your revenue.

Want to know how you can promote your gift vouchers this Christmas? Check out a past post of ours that gives you 3 invaluable tips on how to promote your gift voucher sales. 

 

Contact us here.

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