Have you ever struggled to find the perfect gift for a loved one or a colleague? Or maybe you're looking for a creative way to incentivize your employees or reward your loyal customers. Look no further than gift cards! As one of the most versatile and convenient options for gifting and rewarding, gift cards have become a go-to for individuals and companies.
According to a survey conducted by the Incentive Research Foundation, 60% of employees who received a gift card as a reward reported that the experience positively affected their work outcomes. The study also found that non-cash incentives, such as gift cards, have a higher perceived value than cash rewards, making them more effective at motivating employees.
Another research by Blackhawk Network showed that companies using gift cards as incentives or rewards experienced an increase in employee engagement, productivity, and loyalty. Gift cards not only make excellent gifts and rewards, but they can also positively impact employee performance and overall company success.
Keep reading to learn more about this popular trend and how your business can benefit from incorporating gift cards into your strategy.
What are international gift cards?
International gift cards are an effective means of incentivizing and rewarding customers and employees. Essentially, they are prepaid cards that can be used to make puchases from a specific retailer or brand, providing a flexible and convenient way for recipients to access the products or services they desire.
International gift cards can be used at a variety of retailers and establishments worldwide, rather than being limited to a single country or region. These gift cards can typically be used to make purchases globally for a variety of goods and services.
Both physical and digital gift cards are available, with a specific value assigned to them that can be used to purchase items from the issuing retailer or brand up to the value of the card. They can be purchased by consumers or issued by companies as rewards or incentives and are typically redeemable at a variety of locations, both physical and online.
How are gift cards a great option to reward your employees?
Gift cards are a great option to reward your employees for a number of reasons. They offer a high level of flexibility, as employees can use them to purchase whatever they want or need.
Additionally, they are easy to distribute and can be given out quickly and efficiently, making them ideal for employee recognition programs. They also have a high perceived value, so employees will likely appreciate the gesture.
Furthermore, Gift cards are tax-free to the recipient and tax-deductible for the employer as per IRS guidelines.
One of the key benefits of using gift cards as a reward is that they offer a high level of flexibility. Employees or customers can use them to purchase whatever they want or need, which means that they can choose a reward that is most meaningful to them. This increases the perceived value of the reward, and helps to motivate and engage employees.
2. Ease of distribution
Gift cards are also easy to distribute. They can be given out quickly and efficiently, and are convenient for both the employer and the employee. Gift cards can be distributed via email, mail, or in-person, and they can be redeemed online or in-store. This makes the reward process seamless and efficient.
3. High perceived value
Gift cards have a high perceived value, so employees or customers will likely appreciate the gesture. This can help to build morale, foster a sense of loyalty, and improve overall engagement.
Another benefit of gift cards is that they can be tailored to meet your employees' or customers' specific needs and preferences. You can customize the gift cards per your company logo, message, or other branding elements, which can help reinforce your brand and build a sense of community among your employees.
5. Cost-effectiveness and tracking
Gift cards are also cost-effective and easy to track. You can purchase gift cards in bulk and save money, and tracking the redemption of the cards is a simple process. This makes it easy to keep track of your spending on employee rewards and ensures that you get the maximum return on investment.
Additionally, gift cards are tax-free to the recipient and tax-deductible for the employer as per IRS guidelines, making them an even more attractive option.
What all gift cards can be used internationally?
There are several types of gift cards that can be used internationally:
1. Visa Gift Cards
Visa gift cards offer a convenient and flexible option for those who frequently travel or make purchases abroad. These cards are accepted at millions of locations worldwide and can be used for online and in-person purchases, as long as the location accepts Visa.
With the ability to be used at a wide range of merchants, Visa gift cards provide users with the versatility to make purchases for various needs and wants, including shopping for clothes, groceries, paying for a hotel room, or other expenses.
2. Mastercard Gift Cards
Mastercard gift cards are another popular option for those looking to use their gift cards internationally. Like Visa gift cards, Mastercard gift cards are widely accepted and can be used for a variety of purchases at any location that accepts Mastercard.
Whether you are shopping for clothes, groceries, or paying for a hotel room, Mastercard gift cards provide users with the flexibility to make purchases for their needs and wants while abroad.
3. American Express Gift Cards
American Express gift cards are a great option for those looking to use their gift cards internationally. These cards are accepted at millions of locations worldwide, making them a versatile option for travelers who are traveling for business or leisure.
American Express gift cards can be used for a variety of purchases, including shopping for clothes, groceries, or paying for a hotel room. With the ability to be used at a wide range of merchants, American Express gift cards give users the flexibility to spend their money as they see fit while traveling abroad.
4. Amazon Gift Card
Amazon gift cards are a popular way to give someone a gift. One advantage of using an Amazon gift card is that it can be used on the Amazon website in multiple countries.
However, it's important to note that they can only be used to purchase items from the Amazon website selected during the purchase. If the gift card recipient wants to purchase items from an Amazon physical retail store, they will not be able to use the gift card for that purpose.
Amazon gift cards can be used to purchase items available on the Amazon website, including everything from electronics and clothing to books and groceries.
Do gift cards have foreign transaction fees?
It depends on the gift card and the retailer. Some gift cards may have foreign transaction fees, while others do not.
It's important to check with the retailer or read the terms and conditions of the gift card before purchasing or using it internationally. Some gift cards might not be redeemable abroad, so it is best to check the fine print.
Where and how to buy gift cards for your business?
For those looking to buy gift cards for an employee recognition program, there are several options available. Retailers, both online and in physical stores, sell gift cards, making it easy for businesses to purchase them.
Popular retailers that offer gift cards include Walmart, Target, and Amazon. Additionally, gift cards can be purchased online or in bulk, which is a cost-effective option for businesses looking to manage their recognition program.
Buying gift cards in bulk can be a convenient and organized way to manage an employee recognition program. Many retailers offer bulk purchase discounts, making it possible to get more value for your money. In addition, bulk purchases allow organizations to easily manage and distribute gift cards to their employees without having to go through the hassle of purchasing individual cards for each employee.
When purchasing gift cards for an employee recognition program, it is important to consider the specific needs of your employees. This includes the types of gift cards that will be most useful and relevant to them, as well as the amount that should be loaded onto each card.
By taking these factors into consideration, businesses can ensure that their employee recognition program is successful and effective in boosting employee morale and engagement.
Factors to consider while purchasing international gift cards
When purchasing gift cards for employee recognition, there are several factors to consider, including:
- Purpose: What is the purpose of the gift card? Is it for a specific achievement or simply as a thank you for a job well done?
- Brand/Store: Choose a brand or store that is popular and well-liked by employees, and has a wide range of items that would appeal to a diverse group.
- Value: Determine the value of the gift card, keeping in mind the amount of the recognition or achievement.
- Redemption: Make sure the gift card is easy to redeem and has a clear expiration date or policy.
- Customization: Consider customizing the gift card with a personal message or company logo to add a personal touch.
- Distribution: Determine how the gift cards will be distributed to the employees, whether individually or as part of a group recognition event.
- Tax implications: Consider the tax implications of the gift card, as some gift cards may be taxable.
- Company policies: Make sure to check company policies on gift-giving to ensure compliance with any rules or regulations.
- Availability: Make sure the gift card is easily available for purchase, whether online or in-store.
- Feedback: Consider obtaining feedback from employees on their preferred gift card options to ensure maximum satisfaction and engagement.
Xoxoday Plum: A holistic corporate gift cards provider
Xoxoday Plum is a well-known B2B corporate gift cards platform that offers a comprehensive solution for companies to successfully meet their gifting demands. The simple cloud-based platform offers a range of rewards such as gift cards, experiences, and merchandise that can be redeemed based on the individual’s preferences.
The platform provides an easy-to-use interface that allows businesses to quickly purchase and distribute gift cards to their employees, customers, channel partners, gig workers, and more. This streamlined process helps companies save time and resources to a great extent.
Xoxoday Plum offers a wide range of customizable options, including the ability to personalize gift cards with specific branding, logos, and messaging that aligns with the company's brand. This enables companies to tailor their programs to their specific needs, and create an experience that resonates with their employees, customers, and channel partners.
The platform also allows businesses to track and monitor the usage of gift cards and provides deeper data insights for effective gifting outcomes for different levels.
What makes Xoxoday Plum a great fit for buying gift cards?
Xoxoday Plum offers several key benefits that make it an attractive option for businesses looking to manage their recognition program's gift card needs. Some of the key benefits of using Plum include:
- Customizable options: Xoxoday Plum offers a wide variety of customizable gift card options, so businesses can choose the perfect cards as per budget. This makes it possible to find the right gift cards that match the specific needs and preferences of employees, customers, and channel partners.
- Easy to use: Xoxoday Plum's platform is user-friendly and easy to navigate, making it simple for businesses to buy and distribute gift cards. This can save time and effort, allowing businesses to focus on other aspects of their recognition programs.
- Secure: Xoxoday Plum uses top-level security features to protect sensitive information and ensure the safety of transactions. This provides peace of mind for businesses, as they know their information is secure.
- Cost-effective: Xoxoday Plum's bulk purchase option for gift cards can be cost-effective, making it easier for businesses to manage their budget. By taking advantage of bulk purchase discounts, businesses can get more value for their money.
Suffice it to say, gift cards can be a great option for recognition programs, especially for those looking to reward internationally. Visa, Mastercard, American Express, and Amazon gift cards are some of the most widely accepted gift cards that can be used globally. However, Amazon gift cards have limitations and can only be used on the Amazon website.