Reduce brand switching as consumers struggle with rising costs

It’s a widely-held belief that winning new customers costs you more than it does to keep existing ones. We can infer that retaining customers and working on increasing customer loyalty decreases your chances of facing the problem of customers who switch brands. According to a recent McKinsey & Company report, 80% of Australian consumers have ... Read more

Offer gift cards to your customers. Here’s why –

According to a recent McKinsey & Company report, 80% of Australian consumers have sought out different brands or retailers in the past 18 months, seeking better value as prices continue to rise. 59% of Australian consumers found gift cards an appropriate reward for brand loyalty. Brand loyalty can be increased by offering gift cards to consumers.

Gift Cards – Business Use Cases

Adoption of gift cards in Australia has recorded strong growth in recent years across both retail as well as corporate segments. Due to the pandemic, Australian consumers have shifted to online shopping which has benefitted the gift card industry with the growth of digital gift cards. The corporate gifting sector has seen huge traction as corporates choose to reward and recognize employees by giving digital gift cards as rewards.