India Retail News

QwikCilver was selected to be part of a select international team that made an Evaluatory Study in  London in early October 2011 specifically for the Gift Card category. This Study Trip evaluated the performance of the key brands at their flagship stores in the high street locations of Oxford Street and Regent Street, London. This Study was conducted as an initiative of the Global Prepaid Exchange, the leading global body for Gift Cards. The Study team comprised delegates from the Gift Card category from leading  organisations in the US, UK, France, Switzerland, South Africa (apart from the QwikCilver from India).

The objective of the Study was to observe, learn and gauge the comparative brand presence of the Gift Cards Category - with regard to instore visibility, range of Gift Cards, visual merchandising of the Gift Card portfolio, knowledge of the sales staff, ease of purchase of the Gift Cards, redemption of the Gift Cards among other attributes. The Stores studied included Debenhams, Next, New Look, Selfridges, House of Fraser, HMV, M&S, Bodyshop, Forever21, French Connection, Gap, Banana Republic, Boots, Quiksilver, Primark among others.

Successful brands Plan Well Ahead of the Big Gifting Seasons:

The successful brands had already planned and executed the much needed marketing collateral for the key Christmas shopping - almost 2 months before Christmas.

Paper Gift Vouchers are passé:

Most of the brands had all done away with their Paper Gift Vouchers and moved into the more trendier plastic Gift Cards.

Popular Gift card Programs Build a Unique Card Portfolio

The Gift Card Portfolio showcased at the Stores enabled consumers to pick from a wide array of choices.These included designs with unique packaging and shapes needed for specific occasions like Weddings, Christmas, Special occasions etc. Debenhams had already chalked out their strategy for the Christmas season - with specially designed cards, stands and promotions. The Gift Cards are mostly displayed in a Rack placed near the Cash Till- to tap into the last minute impulse behaviour of the shopper. This does help to drive the sales at the time of the billing process.

Gift Card Portfolio is an integral  part of Store Merchandise. Successful brands like Boots and Debenhams also have their Gift Card displayed across the Store - where the consumer can touch and feel the products before deciding to make their choice. This does help to drive sales and awareness of Gift Cards. As much importance is placed to showcase the Gift Card Portfolio as is done for the regular merchandise.

Store Staff Motivation : Gift Card Champions for spirited focus

To monitor and ensure focused attention to Gift Cards, successful brands have designated Gift Card Champions at the HO; at the Regional Sales Level and also at the store level. Such a focused attention has helped successful brands to  sell Gift cards every 3 seconds during the key Christmas Months !

Trusted Consumer Brands rule with Gift Cards too!

iTunes Gift Cards  do significantly well. They are stocked at vantage points at all kinds of large brand stores too.  This is inspite of the fact that these Cards are for use online only.

The iTunes Gift Card appears to be a preferred brand by the outlets and consumers alike.

In fact, consumer promotions are also seen to be run with the iTunes cards.

Coincidentally, this Study was during the week that Steve Jobs passed away.

An ode to this legend who redefined many consumption categories across the world.

This picture was taken by the writer at the Apple Store on Regent Street the day after Steve Jobs passed away.

Article by T P Pratap,

Co Founder - Chief Marketing Officer, QwikCilver.

www.qwikcilver.com

www.giftbig.com