Gift voucher – What is it, definition and concept | 2022

A gift voucher is a document that proves a balance in favor of its owner. This balance can be spent in those establishments that are included in the conditions of the check. Its physical format can be on paper or card and we can also find it in digital format.

Simplifying the above, the owner of a gift voucher has an amount of money available to spend in certain establishments. That is, it is like a debit card with an available balance.

Gift cards or checks are a very useful resource for those who have to give a gift, but do not know what to give. In fact, we could say that it is something similar to giving money away, since the recipient of the check can spend that balance on what is most interesting to him.

A gift voucher is issued by a business when it receives payment from the customer making the gift. So, in case you want to give a gift card, you will have to go to the respective establishment and pay the amount you want to give. For example, if you want to write a $30 gift certificate, you will have to pay the $30 in the store.

Once this is done, the business will give you the gift voucher. This gift voucher can be in physical or digital format. In the case of physical format, the most common is to find a plastic card (similar to debit/credit cards) loaded with the corresponding amount.

Characteristics of the gift voucher

Here are the most common features of a gift voucher:

See also  Bombay Stock Exchange - What is, definition and concept | 2022
  • The owner has a balance of money to spend.
  • The check has a series of conditions. These conditions are related to the establishments in which it can be redeemed or the validity date.
  • Its format can be physical or digital.
  • The appearance of gift cards dates back to 1994, at the hands of the Blockbuster Entertainment company.

The gift voucher, in addition to being a lifesaver for all those who do not know what to give, is also a very good marketing strategy.

In the first place, the company ensures a sale of a minimum amount of what is paid by the person who makes the gift. In addition to this, if later the customer who is going to use the check is interested in a more expensive product than the available balance, he will probably pay it because it does not involve so much expense. Thus, the company materializes a sale for a higher amount.


On the other hand, we must take into account the loss factor of the check or forgetfulness. Many people like to procrastinate or are careless. So, if the check is not exchanged, the establishment has an income without any cost, since the customer does not consume.

In summary, it is a good sales strategy, because you help people who do not know what to give and you also ensure a sale.

Example

We can find many examples of gift vouchers simply by browsing the Internet. This tool is used by both large companies and small businesses.

Next, I name some of the companies that have the option of gift cards available:

  • Amazon.
  • The English Court.
  • Manzana.
  • Spotify.
See also  YEAR-END SHOPPING: LEARN HOW TO PREPARE YOURSELF FINANCIALLY AND AVOID DEBT

Leave a Comment