E-Gift Cards: The new way of Employee Recognition
Gift cards are essentially value-stored money cards given with the intent of gifting and redeemable at the merchant store which is issuing the same. Their rapidly growing usage is attributed to the fact that it weeds out the component of social inappropriateness which is involved while giving cash awards. With this, Gift Cards appear to be a perfect solution for employee rewards and recognition program of the companies in this digital age.
Earlier, when the technology was not so advanced, physical gift cards were distributed but the recipients rarely remembered to use the gift cards as they mostly found a place in the back of the drawers! This situation is not good for two reasons. Firstly, the companies lose out on the capital invested in buying the gift cards which is roughly around 30% of the total purchase. Secondly, the merchants lose out on a lot of sales as the customers always spend 20% to 400% more than the face value of the gift card.
Now, with the increased mobile penetration and technological advancement, we can tackle this two-sided problem with ease and make every gift card count by doing away with the physical gift cards and adopting the digital ones! But you might be thinking that the digital ones will also be forgotten just like the physical ones but wait, there’s a catch here. We can get regular reminders about the unspent gift cards on your mobile or email so that your shopping goes on and on! That’s the technological advancement we are talking about!
We, at Doboz, have developed a great digital solution which will streamline the employee rewards and recognition program of your company. We have E-Gift Cards of over 75+ brands all under one roof and the list keeps growing with time. Our USP of giving cash-back on the “unclaimed gift cards” would definitely help in utilizing the buyer company’s resources more effectively. Also, the timely reminders to the recipients of the gift cards would prompt them to use it without fail. With such an end to end solution, we believe that our solution goes an extra mile in satisfying every problem and is a small step in itself towards Digital India.
Please visit business.doboz.in to know more and connect with us for discussing our solution fit in more detail.