Blog

Beyond the Payment Play—Thinking of Gift Cards as a Product

By Monique Brown, Director, Client Success

When put to strategic use, gift cards have the power to acquire new customers and increase foot traffic while increasing revenue.

Acquire new customersWhen I think of the evolution of the gift card I am reminded of my early days in online marketing and the advent of the banner ad—the concept which led to numerous new revenue streams for advertisers and launched several online media companies. The idea of online advertising was so new that while advertisers were envisioning what a banner ad would look like, they were simultaneously trying to figure out how these new ads would lead to conversions and increase engagement.

Today, we’re at a similar inflection point with gift cards. Retailers are creatively utilizing gift cards outside of the straightforward payment play. When put to strategic use, they have the power to acquire new customers and increase foot traffic while increasing revenue. Ben Jackson of Mercator Advisory Group notes that the average amount spent beyond a gift card’s face value has increased steadily over the past three years and industry data shows that customers spend 44 percent more than the face value of the gift card they receive.

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NRF17: Perspectives from a non-retailer

By Tim Ermlich, Senior Product Manager

As younger people are entering the consumer world, technology and connectivity advancements have transformed consumer expectations on all fronts.

Consumer expectations are changing.As my colleague Dann Gardner mentioned this time last year, The National Retail Federation’s Big Show is a massive three day-long event. The amount and variety of content is rivaled only by the number of attendees, which tallied more than 35,000 this year. As a large percentage of CashStar’s clients are retailers, understanding the struggles and opportunities many of them face is critical to our shared success. I spent the three days taking in as many presentations as possible.

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NRF 2017: Three Themes We Hope to See at Retail’s BIG Show

By Gerry Gilbert, Vice President, Product

Here at CashStar, and throughout the retail industry, we’re gearing up for the NRF’s Annual Convention & EXPO, Retail’s BIG Show, coming up on January 15-17 in New York City.

NRF 2017: Retail's BIG ShowEvery year, a few popular themes emerge from NRF that tend to dominate the industry over the coming year. It is always interesting to see what merchants are prioritizing for the next 12 months and how the rest of the industry responds. Here’s what I think (and hope) the main themes will be this year:

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Employee Q&A: Get to Know Abigail Skelly, Senior Manager of Solution Delivery

Agile SCRUM Master for the Solution Delivery team by day and avid telemark skier on winter weekends.

Abigail Skelly, Solution Delivery ManagerHow did you come to work at CashStar?
I worked at a startup in Massachusetts for eight years. I loved the company but spent a lot of time commuting. When I moved to Maine for a lifestyle change a former supervisor from the Massachusetts start up connected me with his son who worked at CashStar. I really like the energy and excitement that comes from working at a startup, so I applied for a job and the rest is history.

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