POS Software Should Include a Gift Card Program
December sales numbers vary according to which analyst you listen to. I saw a number that said that there were 40 billion dollars worth of gift cards sold this Christmas season and this money is hard to account for. The reason for this is the fact that the income is not reported until the card is redeemed. This income is called deferred income and will not accurately reflect the sales figures until that card is used in the store purchase. Also 10% of all gift cards sold will never be redeemed.
This is a great reason why you should have a gift card program in your retail business. Most of your good quality POS Software companies will have integrated web based gift and loyalty card functionality built in. Not only will you have revenue from selling the cards, but you give the customer a reason to come back and shop again. Have a prosperous New Year everyone.