Gift cards are the most attractive form of rewards across demographic groups, with 68% of consumers considering them an enticing incentive. Their appeal routinely edges out brand discounts, charity donations and premium tangible or intangible features. And unlike those other options, they’re an instant carrot that can be used immediately to please employee populations without any redemption problems. In short, they just work.
To differentiate themselves in a highly competitive market, rewards and recognition providers that serve employers must offer more than just the traditional benefits, which are now table stakes. Having said that, benefit brokers and advisers should know that digital gift cards can be a strategic, game-changing addition to any such program.
