Incentive - June 2008 - (Page 87)

AWARDS One Card, Many Options Gift card incentive rewards now feature multi-merchant models By Maya Dollarhide s the market for gift cards continues to rapidly expand, with sales estimated to reach the $100 billion mark this year, companies are continually searching for creative ways to enhance the cards. A decade ago, gift cards functioned in a single way— redeem a single-ticket item, much like old-school gift certifi- A Illustration: Mark Armstrong cates. But today’s cards go far beyond one-shot gifts. Now some companies are offering one card with many options, which some experts say is a better way to confer spot rewards. “One card with several purses on it is a real trend right now,” says Jean Lansberg, research specialist, First Data Corporation, a provider of payment solutions based in Greenwood Village, Colo. “People don’t want to carry around five different gift cards they received as spot rewards in their wallets. They want one card that can be used in a variety of ways, even at a variety of merchants. For example, they could have a Starbucks/Apple card or a gas card attached to a McDonald’s card. Right now, our company is piloting a couple of merchants to offer a card that can be redeemed at any of their stores.” Lansberg could not reveal the merchants involved in the pilot program, but the card will be a multi-purse that contains many shopping options. While cobranding on a card is not a new phenomenon, five or more | June 2008 | Incentive | 87 incentivemag.com http://incentivemag.com

Table of Contents for the Digital Edition of Incentive - June 2008

Incentive - June 2008
Contents
Editor’s Note
In The News
Cover Story: Seventh Annual Industry Roundtable
Incentive Interview
Case Study
Soft Incentives
Empowerment and Engagement
The Incentive Career
Incentive Primer
Travel News: Where To Go and What To Do
The Cook Islands
Field Report: Bermuda
Potentials: Here and Now
50 Top Motivators: The Best of the Best
Electronics: High-end Audio Equipment
Gift Cards: Should One Be Enough?
Advertiser Index
Off The Cuff

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