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.
Australia is a challenging market for any business to grow for the advancement in technology they possess. The Gift industry will never stop growing. The number of occasions for gifting are increasing day by day. Initially only birthdays, weddings, anniversaries, Christmas etc were seen as the gifting occasion.
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.
Gift Cards are the modern gifting solution for all occasions and all ages. Gift Cards address a variety of common problems that arise when gifting. Gift Cards today are also a strategic tool of many loved brands across the world.