Paper Vs Card
admin posted in Uncategorized on October 16th, 2009
Paper and Card, which to choose…
There are 2 primary differences between Paper and Card.
SECURITY and SALES
Facts about Paper Vouchers…
- must be kept under lock & key
- are effectively cheque books in the hands of criminals
- can be duplicated and are hard to cancel
- require far more security precautions and paper work
- are time consuming to handle and result in “less than value” purchases
- are seen as “old hat” and not sophisticated
- are difficult to market at remote or multiple-store or host locations
Security should not be underestimated, in this era of computers and desktop publishing almost anyone “computer literate” can make or copy their own paper vouchers. At least to the level of tricking your staff or scamming your business when it is too busy to recognize the theft. Yes, you can purchase the high security ones but by the time you have done that, you could have had bought real Gift Cards, sold more and had less trouble filling them out, not to mention how your staff might mis-treat /mis-use / mis-take those credit notes.
The critical difference is one system relys completely on staff to write, process and redeem (AND KEEP) the vouchers and the other on an external system of high security nation-wide banking. Using our EFTPOS Gift Cards means they have to go through the highly secure EFTPOS network, essentially ELIMINATING any chance of fraud or error by staff or customers. We call this… having Peace of Mind.
Because they hold no value until they are loaded CARDS CAN BE ON DISPLAY anywhere in the store.
Cards are on the banking platform and as long as the card can be identified it can be suspended, canceled or transfered PROMPTLY if lost, etc. We call this…. having Control
Gift Cards are secure because they…
- hold no value until the customer purchases
- linked to external system of high security nation wide banking (EFTPOS)
- cannot be readily reproduced, altered or copied
- rely on simple systems you already use (EFTPOS transactions)
- the remaining value on card remains on the card
Sales, Cards will always outsell vouchers. It is a simple fact that in retailing, if you hide stock out of the reach of customers, it will not sell. By placing a product in direct sight of a customer, you will immediately increase sales, isn’t that what retailing is? With our highly secure EFTPOS Gift Cards, they can be next to the register (picking up bonus sales) and throughout the shop, without any risk of fraud or misuse. They are able to sell themselves and are a highly in-demand product.
Because they hold no value until they are loaded CARDS CAN BE ON DISPLAY anywhere in the store.
Even stores with good sales of Paper Vouchers, see a burst of activity when they introduce a better product – easy to use, more attractive and on-display. Customers love them for their look and convenience.
Gift Cards SELL because they…
- are an easy choice for the consumer
- are on-display, the customer can see the product, handle it and bring it to the register to purchase
- simple, attractive and a perfect solution for a gift
- are in-demand NOW
Gift Cards are PROFITABLE…
- Liquor Land NZ sales increased dramatically when they sold 10,000 Gift Cards in the first two weeks of release, which was 7 times more than their voucher sales
- Anglers Warehouse (single store small business) sold $5000 in 2 weeks after having the product for only 2 weeks
- Gift Card sales have grown by 22% per year in the USA, Australia, etc. since 1995
other benefits of CARDS…
Facts about Cards…
- average value loaded in Australia is $80
- 70% use the entire card value
- 30% use the entire card value with a month
- over 80% discard their Gift Card when its value is depleted
- Men spend 25% more than Women
- Women are more likely to buy a Gift Card
- Cost in USA – $5.95 per card for value upto $300, $7.95 per card for over $300
- 48 of the top 50 retailers in the USA offer Gift Cards
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In the USA approx 60% – 6 out of 10 people purchased or received a Gift Card in 2003