Over the past few years Shopping Centres have started to realise that Gift Cards provide a perfect way to help drive extra business to their tenants. Many Shopping Centres now sell in excess of £1M of gift cards annually. This money then has to be spent in shops within their Shopping Centre businesses.
The gift cards provide a unified proposition which the Shopping Centre owners can sell on behalf of their tenants.
There is another reason that shopping centres like gift cards – all of the money is not redeemed in the shops due to part-redemptions and lost cards. Over 10% of the value purchased remains unspent and when the cards expire (after 12 months) the leftover money belongs to the Shopping Centres.
Towns, Cities and BIDs are starting to adopt this model as it provides a very measurable way in which Place Managers are delivering value at the same time as creating an ongoing revenue stream.
Miconex are working with towns, cities and BIDs across the UK to create unique gift card programs. Please just get in touch if you would like more information.