Just in time for the holiday season, leading gift card program manager Stored Value Solutions (SVS) introduces its Solutions B2B offering to retailers. SVS Solutions B2B includes SVS acting as a sales agent and distributor for a number of large retailers including marquee household brands.
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“B2B programs have nearly doubled during the height of the Covid-19 pandemic at a time when many retailers have cut back personnel focused on gift card sales,” said Mark Schatz, President of SVS. “This is a service that our clients need to continue to grow their gift card programs and SVS is the partner they trust.”
Gift cards used as incentives for employees, consumers, and as part of large loyalty programs have been on the rise and a driving force behind gift card sales. According to SVS portfolio data, gift cards sold to businesses to be used as an incentive have grown at a compound annual growth rate of 12% over the last three years. This growth outpaces in-store sales and growth at gift card malls.
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“B2B sales continue to make up a larger portion of overall retail gift card sales,” says Steve Kane, Senior Vice President of Business Development at SVS. “Consumers, especially millennials, are using points achieved through loyalty programs, wellness schemes, and employee perks to treat themselves using gift cards. Many retailers don’t have the manpower to fully capitalize on these programs. This is where SVS is stepping in to help.”
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