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Feature: Show Them Your Cards |
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The numbers are in: Gift and loyalty cards are must-haves for consumers, and according to industry insiders, they are the latest way to add some punch to your sales portfolio.
The closed-loop market will generate $239.9 billion, up from $171.2 billion in 2006, and network branded cards will garner $181.6 billion, up from $26.8 billion in 2006, according to a recent report from The Mercator Advisory Group. Industry observers estimate that gift cards made up 6 percent of holiday spending last year by bringing in more than $35 billion—nearly double what was spent in 2005.
“My passion is gift and loyalty cards, but I feel so conflicted even speaking publicly about it because the industry has neglected the prepaid market so extensively that I may be waking up a giant,” says Jared Isaacman, president and CEO of United Bank Card. “At UBC, our 2008 game plan has gift and loyalty right up there as one of the most important projects of the year. It’s a fantastic market.”
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