5 Things You May Not Know About Gift Cards
Every holiday season, gift cards become an important revenue for businesses everywhere. Make it easy for clients to purchase gift cards from your website on desktop or mobile with the branded web gift card link. How can branded web do this? The links connect to gift cards you’ve created in your MINDBODY software. Once the link is clicked, that gift card is added to the client’s cart on your branded website. Just to show you how important this is, our Data Science team dove deeper into the statistics around gift cards sold through the MINDBODY system to see what trends emerged.
The result? Five things that you may not know about gift card sales.
Women buy the majority of health and wellness gift cards.
Last year, over 80% of the gift cards purchased through MINDBODY were purchased by women. Here’s the breakdown by industry: salon (92%), beauty (87%), yoga (87%), Pilates (87%), fitness studio (83%), personal training (82%), children’s program (89%), skin care (92%) and wellness center (83%).
11:30 AM – 01:00 PM is the peak time for selling gift cards.
More gift cards were sold between 11:00 AM and 04:00 PM than any other time, with the highest concentration of sales between 11:30 AM and 01:30 PM.
Tuesdays, Wednesdays, and Fridays have the highest percentage of gift cards sold.
We looked at which days of the weeks had the most gift cards sold. Friday won at 18%, closely followed by Tuesdays and Wednesdays at 17% each. Fun fact: Sundays had the lowest (only 7%).
The annual median value of gift cards purchased last year was $70.
Throughout 2014, the majority of gift cards purchased were under $200; the median value for the year was $70.
More than 15% of annual gift card sales happen in the last four weeks of the year.
The fitness and wellness industries saw a little over 15% of annual sales during the last four weeks of the year, while beauty saw just under 15% of annual gift card sales during that same time period.