It is estimated that by 2018, e-gift cards will grow around $18 billion globally. Today, these virtual gift cards are used as a reward program for employees as well as customers. For instance, platforms like Facebook, Amazon and Apple gives its employees e-gift cards on special occasions.
An e-gift card is a great way to boost employee morale and make them more productive. Provided as an incentive, it makes the customers and employees feel valued. Where an employee might receive it as an award for achieving his or her target, a customer might receive it for being loyal to the brand. There are no limits because an e-gift card can be rewarded to anybody by the company on the basis of loyalty.
Let’s have a look at the trending gifting merchandise that is now being used in the industry to boost employee morale:
Physical and Virtual Gift Cards
E-gift certificates including brands such as Best Buy, Applebees, Nike, Brooks Brothers are just some of the most esteemed names that are rewarded. The features of a gift card have now evolved into more than just a plastic card. No longer confined to the wallet, the e-gift cards can now be rewarded through phones or emails. They can be used then and there with easy delivery.
Another popular gifting merchandise that can be seen in e-gift certificates is electronics. The electronics are mostly limited to health and lifestyle machinery. This motivates the employee to live a healthier life and makes them feel valued that the company cares about their welfare. Few companies even give e-gift cards with rewards on for the latest gadgets or any upcoming technology.
Though not tangible, experiences will soon become the e-gift trend that most employees will look forward to. An experience can be anything from a paid vacation to a week’s stay in a villa with all the modern amenities. An experience has the power to improve employee productivity immensely, as it gives them a competitive environment. It can also lead to the development of unique and high revenue ideas when the employee has returned from the vacation and is free from stress.
Other E-Gift Merchandise
- Open loop e-gift card (Ranked as number one e-gift card universally for all product categories)
- Retail (Second highest e-gift card product in the clothes category)
- Food (Third highest e-gift card product)
- Accessories (Watches and jewelry)
- House wares
Every now and then, an employee needs to be reminded that they are a vital part of the company, same as a customer needs to be reminded that they have not been forgotten for being loyal. These e-gift cards are a great way for the company to show their appreciation for the employees and the customers. There’s still room for e-gift cards to gain popularity and become a means of a competitive and productive work environment, if the company sticks to the favored e-gifting merchandise.