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News & Press: IGCC Press Releases

New study: B2B gift card marketplace continues growth

Monday, July 17, 2017  

IGCC Member Meeting Preview - Wednesday, July 26 2:45 - 4:45pm

   

Don't miss the chance to hear the full results of the 2017 IGCC/IRF B2B Gift Card Buyer Study during theIGCC member meeting. Melissa Van Dyke, President of the Incentive Research Foundation will cover learnings from the survey of B2B gift card buyers in large companies. Building on the 2014 study, the most recent results include a breakdown by gift card source to compare Retail, Online General Retailer, Brand, Agency, and Gift Card Suppliers.

Here is a brief preview of a few key findings, make sure to attend the session to hear all of the details and have an opportunity to ask questions!

  • The majority of U.S. Business choose to use gift cards as a reward tool for not one, but a number of key players: 61% of large companies are purchasing gift cards for an average of 2.4 different rewards and recognition audiences; 69% of mid-size companies are purchasing gift cards for an average of 2.8 different rewards and recognition audiences.
  • U.S. business investment in these tools is both significant and growing. On average, mid-size firms with significant enough gift card purchases to qualify for the study are spending $450,000 per year on gift cards across all programs, the largest firms are spending over $1 million. 71% of mid-size and 52% of large companies say their B-B gift card spend is increasing.

As a developed market with a number of buying options available, U.S. Businesses have firmly developed opinions on the types of partners from which they buy: Within the largest firms, Gift Card Suppliers receive the highest ratings on Choice, Ease, and Service, followed closely by Agencies. Brands are seen as easy to work with, but offer less Choice and Service than alternatives. Online General Merchants and Retailers are easy to work with and offer a variety of options, but lag Agencies and Gift Card Suppliers on Service. 

 

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