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the online gifting revolution

 

A growing market for digital gifting

The demand for digital gift cards, e-gifts and vouchers increased exponentially throughout the pandemic, and data shows that the market will continue to grow. With the UK gift card industry in the UK estimated at more than £7bn, and with sales up 17.1% on a rolling year basis from 2019-2021, the UK Gift Card & Voucher Association reported that ‘GlobalData forecasts that the market is set to grow 24.7% over 2019–25, with the total value of the market hitting £8.71bn by 2025’. Of this, Digital/E-vouchers have shown a growth rate of 90% (2019 vs H1 2021) and now enjoys a 50/50 share of the market.

Retail and beyond

Where traditional gift cards were predominantly used by retailers and restaurants, online gift solutions are now being implemented by brands and businesses across multiple sectors to bolster their ecommerce offering and drive new revenue streams. Solutions that were implemented before and during the pandemic were crucial sources of income for those businesses that had them during lockdown, but brands are now realising the long-term advantages of this function.

Theatre Tokens Technology Awards - Solution by Reuben Digital
Theatre Tokens e-Gift website by Reuben Digital

 

Technology to power your digital gifting

At Reuben Digital, we’ve provided the technology to power e-gift solutions for our partners that provide B2B and B2C gift card services for the likes of Nike, Costa, and many more, as well as directly to our own clients such as Theatre Tokens and National Book Tokens. Our solution is robust, secure, and scalable, but it’s not just for the big retailers. We’ve helped organisations of every size implement a solution that has helped them quickly tap into new revenue streams. Our offering includes:

  • Hosted eGift Ecommerce platform
  • Connection to processor solution existing or new
  • Full suite of APIs for Ordering & Redemption
  • Redemption plug-in for Open Source eComm such as WooCommerce
  • Accounts integration (XERO) and other leading accounting software platforms

And we work with trusted partners for:

  • Processors (Jigsaw Business Solutions, GIVEX, EAGLE EYE, FIS, SAVVY)
  • Network Providers (Blackhawk Network Solutions, INCOMM)
  • Physical Card Production & Fulfilment
  • Payment Providers (Stripe, Paypal, OPAYO, WorldPay, Barclays, Cardstream)

The benefits of implementing a virtual gift card solution

  • Increase Sales
    This must be the most obvious benefit. We know that implementing an online gifting solution will increase sales – just like when we implemented the solution for Theatre Tokens and they saw an 83.2% increase in sales over 2-years.

  • Attract new customers
    Not only does a gift card have the potential to introduce a new customer in the form of the individual it has been gifted to, but it might also attract new customers purchasing that e-gift for someone else – while they’re on your site, they’re bound to have a look around and you could win them over.

  • Increase brand awareness and engagement
    These types of solutions provide the opportunity for both brand awareness and further marketing opportunities to individuals. With those purchasing the gift being an advocate of your brand and those receiving it starting a new or repeat experience with you.

  • Capture useful data
    Virtual gift solutions can provide a way to collect useful data that will help you better understand and serve your customers. And once you’ve collected this data and start to offer a more personalised experience, you build trust and increase loyalty.
National Book Tokens Personalised Gift Cards
Gift Card Statistics By Reuben Digital

 

Join the e-gift revolution

As the digital gifting market continues to grow, more and more consumers will expect brands and businesses to have these solutions on offer. If you’re ready to find out how Reuben Digital can implement a solution to revolutionise your business, speak to us today.

Get in touch and find out how Reuben Digital can revolutionise your business in 2022.


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