Newsletter

January 2015

Season’s Greetings and a Happy New Year from all of us at QwikCilver!
It has been a good start to the new year, with consumer sentiment looking up and all retail indices showing a positive trend. With the market gearing up for or already in End of Season Sale mode, this is likely to continue over the next few weeks.

A new year brings with it new beginnings, fresh hope and a lot of good cheer and positivity. For us at QwikCilver, this is a good time to remind ourselves of our raison d'etre, and to reaffirm our commitment to what we stand for. And so we begin another year, bright and positive…

New Launches and Updates

Snapdeal, one of the leading online marketplaces have launched their e-gift card program and QwikCilver is proud to have been the technology partners for the same. This program comes under the Semi-closed Loop Program (SCLP) classification as defined by the Reserve Bank of India (RBI).
International fashion retailer Splash, part of the Landmark Group, launched their Gift Cards and e-gift cards recently.

Compelling Reasons to go the Gift Card route…

1. Benefits to the Brand/ Retailer are:
-Pre-paid "Float" which improves cash-flows,
-Bottom-line infusion through “breakage” from un-redeemed or expired cards.
-Significant sales "uplift”- significantly higher bill amount at the time of redemption of the card.
2. Promotes both Self-use and Family use:
-Consumer friendly because anyone in the family can use the card to pay
-Home Delivery friendly – especially in cases where the person doesn’t have change or cash to pay up
3. Promotes Consumer Retention:
-Offer a simple percentage "Top up" on the card purchase above a pre-defined value
-With A Pre Paid instrument consumer is “Lazy” to move away to other Brands
-This has been done very successfully by Starbucks.
4. Promotes Consumer Retention:
-Offer a simple percentage "Top up" on the card purchase above a pre-defined value
-With A Pre Paid instrument consumer is “Lazy” to move away to other Brands
-This has been done very successfully by Starbucks.
5. Smart as debit card
-Compact, portable & stylishly packaged
-Pre-loaded with value and usable
-Whenever & wherever convenient
6. Safer than a gift voucher
-Debit cards are fast replacing hard cash
-Gift cards are fast replacing gift vouchers
-Gift cards are also a lot more secure
7. Better than currency
-It’s awkward and inelegant to gift someone cash
-Gift cards are a far more elegant
-Flexible choice- It’s your brand’s own currency
8.Security Compared to Paper Vouchers Pre Paid Cards usage are tracked in real time hence Operational Efficiency increases with no pilferages

QWIKCILVER @ NRF 2015

NRF is the worlds largest retail trade association representing retailers from United States and more than 45 countries. Retail's BIG Show is NRF's flagship industry event held annually in New York City. The four day event offers unparalleled education, collegial networking, and an enormous EXPO hall full of technologies and solutions. QwikCilver is happy to have participated in the event. Here are some snippets from the event for our readers:
-“Consumers are going away from Brick and Mortar traditional Retailer shopping to E-commerce and Mobile. In order to mitigate that, I think it incumbent upon the responsibility of the Retailer to create these fantastic experiences that is going to sweep them away”- Howard Schultz, CEO of Starbucks
-4% of consumers who placed online order selected in-store pick up over delivery in 2013. In 2014, 64% of consumers did the same, reasons being no tax, no delivery charge, fast and convenient.
-10,000 card payments are processed worldwide per second
-An average of 3.7 cards per card holder are carried by Americans
-Over 73 Billion payment card transactions are processed in the United States per year

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