It’s a new year, and everyone is out and about, spending their holiday gift money. Chances are, you’ll be seeing a lot of gift cards in the next few weeks—not only from familiar faces but also from those who will be visiting your business for the first time. This is a great opportunity to turn these gift card recipients into new clients. The Gift Card Analysis report can show you how well you’re retaining these customers, as well as provide a comprehensive overview of gift card redemption at your business.
You can find this report by choosing the Reports tab and searching for “Gift Card Analysis.” Click on the report’s name, and then set the date range, filters, and options you need before generating the report.
Under Filters, you can select a redemption location (if you have multiple locations), a gift card name (if you want to run the report for specific gift cards that you offer), and lastly, a client type (you can run the report for new clients only, returning clients only, or both).
The Gift Card Analysis report offers a summary view and detail view. Each of these views can be helpful for your business in different ways. As with most of our reports, you can run them in different views and see which will be most valuable to you.
First, let’s take a look at the summary view:
This view will show you a lot of totals: the total number of clients who have redeemed gift cards, the total number of new clients who have redeemed gift cards, and the totalnumber of new clients retained. The report considers new clients “retained” once they’ve redeemed a gift card and made other purchases since. At a glance, you can quickly see the percentage of new clients retained, and you can see how much you’ve brought in from all sales made by clients whose first purchase was made using a gift card.
The summary view also displays the total gift card credit redeemed at your business, and the total of unused, or outstanding, gift card balances. “Gift Card ROI” is the return on investment, or the profitability, of your gift cards.
