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Millennials Driving the Growth of Gift Card Use

Millennials Driving the Growth of Gift Card Use

Because it is the holiday season and the best time of year to offer gift cards, I thought this would be a good article to share with our WashCard readers.

According an article in GlobeNewswire, Millennials and Gen Z consumers are driving the gift card market growth in the US. They have ever-increasing purchasing power, and therefore are creating demand for gift cards for self-use and for gifting purposes.

Important consumers to understand and bring to our car wash locations!

The article states, “Holiday seasons are one of the biggest contributors to the sales of gift cards in the US. Thanksgiving, Christmas, and New Year holiday are the most popular festive seasons where gift cards are used for giving and receiving gifts in the country.”

This should not be a surprise.

Another noteworthy reason for the trend is the percentage of shopping being done online in many retail segments. In the car wash business, we do have a different dynamic: you have to show up at the wash to get your car cleaned up!

Of course, the cell phone is the gateway to the lion’s share of everything that shoppers in younger demographic groups purchase, and they generally do not carry cash and prefer to not even carry a credit or debit card.

That’s why a cell phone app for payment – and the purchase of your gift cards – makes so much sense. It is how most younger people prefer to buy.

Touch-Free payment methods are recommended by the CDC.

On top of that, the Center for Disease Control has advised that touchless payments systems are recommended, and in the COVID-era, more and more consumers prefer touch-free payment methods utilizing their cell phones.

If you are a WashCard customer, you probably already know that WashCard has a complete gift card and loyalty program, and the additional sales (and cash flow) you can generate by selling holiday gift cards makes them a good idea for your end-of-the-year sales planning.

In addition, we introduced our UWashApp in April, in the early months of the COVID pandemic, in order to bring more payment options to our car wash customers.

Check out the article on GlobeNewsWire here and get in touch with the WashCard team if you have any questions regarding gift card programs, or the UWashApp for payments.

The link to the article is here:

US Gift and Incentive Cards Market to Cross 221 Billion by 2024 Despite COVID-19 Related Challenges

Dan Yarusso

WashCard Systems

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