Neiman Marcus, Target, Best Buy and other retailers are using novel gift card promotions to lure shoppers into their stores and boost holiday sales, according to a story in the Wall Street Journal.
Retailers ranging from luxury providers to discounters are using new gift card promotions to attract customers to stores, according to a story in the Wall Street Journal.
Written by Elizabeth Holmes and Ann Zimmerman, the story says that gift-card sales have long been highly profitable for retailers because consumers tend to use them to buy full-priced goods and spend more than face value in stores.
This year, however, the story says the cards are designed to lure customers into stores without the margin-busting discounts of last year. Some retailers are adding special services or features to their cards, the story says.
The cards are also aimed at luring customers to stores before the holidays, rather than after, the story says, and they are meant to address a drop-off in gift-card sales that occurred last year.
Retailers using new gift cards include Neiman Marcus, Target and Best Buy, the story says.
WSJ Online subscribers may read the full story here.