Millennials can be hard to understand, as they are very particular and different from past generations. They have a great buying power and for businesses, it means having to understand how to attract and retein this market. Some people think that Millennials don't like loyalty programs but according to a BNN study in North America, it's false. They only want a better loyalty experience and are actually more influenced by loyalty programs than older generations.
Millennials love loyalty programs, but it doesn't mean just any. Blackhawk Network has also made a research indicating that Millennials are plenty loyal, especially when it might involve earning a gift card or a prepaid reward card. With this information, developing a loyalty program with prepaid and gift card rewards is certainly positive to attracting Millennials. In fact, 82% of American Millenials said they would be interested in redeeming loyalty points for a gift card or prepaid reward card.
Moreover, they trust this specific type of reward. Gift cards are like cash, which means there are no tricky points system, unlike what we've seen in the past with untrustworthy loyalty programs that change at any given time. Also, the true monetary value of a gift card is known - gift cards are inherently very transparent about their worth as compared to products. Think about all the items you can get exchanging your loyalty points - nobody knows how much that blender is really worth.
Thus, Gift Card Warehouse works well with companies looking to reward their employees and/or customers. With National coverage and 10 years of experience, we offer over 180 retailers for your loyalty program!