How eVoucher Gifting Can Improve eCommerce Sales for Merchants
The pandemic has brought about a shift in the consumers' purchasing journey, introducing a new way for eCommerce businesses to attract customers - evouchers. According to the SYNC Southeast Asia report, Malaysia has the highest percentage of digital consumers (88% of the total population).
Convenience is the main factor for shoppers to shop online, with opportunities to shop 24/7 and easy access to multiple online shopping platforms. According to the e-Commerce Consumers Survey 2018, these features provide convenience for about eight in ten shoppers (84.4%) who cited this reason as a motivation factor for shopping online.
To help you better understand the evoucher industry and grasp opportunities for your business, read on to learn about e-vouchers and how you can grow your revenue with them.
The Rising Popularity of eVouchers
As digitalisation continues to dominate the eCommerce industry, the advent of evouchers has been on the surge in recent years. With COVID restrictions in place for the past two years, evoucher gifting has served as an alternative to physical gift buying.
As a result, businesses now have an opportunity to build a direct relationship with their customers and adapt their marketing strategy to changing consumer behaviours. Smaller independent businesses have also been offering gift cards to reach new customers whilst building a stronger client base for when the shops reopen soon.
What is an eVoucher?
eVouchers are an electronic version of a gift certificate. Nowadays, many online retailers, leisure brands, restaurants, cinemas and more offer evouchers. They contain a certain amount of prepaid money that is available for use for a variety of purchases.
A retailer generally issues them as a practical alternative to cash for purchases within a store and as a marketing strategy to increase their number of returning customers. Furthermore, evouchers are also distributed by organisations or employers as rewards and gifts to their employees.
Why Sell eVouchers In Your eCommerce Business
The size and type of business you run does not matter. This is because an evoucher program is straightforward and affordable to implement. Consider these four reasons as to why you should implement evouchers for your business.
1.eVouchers are in high demand
The eCommerce industry is highly competitive. To stand out amongst the competition, offer evouchers to your customers. eVouchers help customers complete purchases and give the giver and receiver the freedom to shop when the timing is right.
2.No profit loss
According to an article by MarketWatch, evouchers actually make you spend more. As a result, when you sell an evoucher, you receive an increase in cash flow with no significant investment required.
eVouchers are a great socially-distanced gift option
eVouchers are a great contactless gift option amid the COVID-19 pandemic. Customers can purchase them online from the comfort and safety of their homes, and recipients can use them to shop online as well.
eVouchers increase brand loyalty
eVouchers not only attract new customers but also ensures that you have returning customers as well. By offering exclusive discounts to your loyal customers, you're showing that you appreciate them.
How do eVouchers Work?
As stated above, an evoucher works similarly to a physical gift card. Depending on the specific brand, they're redeemed in three ways: online, in-store, or both.
Using an e-gift card online
Enter the evoucher's number and PIN when buying through the retailer's website. You will then receive an email for any special instructions. For example, needing to create an account for online spending.
Using an e-voucher in store
eVouchers are often sent through emails (and occasionally SMS), so all an e-voucher recipient needs to do is present a copy of the evoucher. Take a screenshot, or open up your email app and present it to the cashier when making a purchase.
5 Ways to Sell More eVouchers
Increasing customer conversions is the main goal of eCommerce businesses, especially at a time when it's becoming harder to convince consumers to complete the buying process. eVouchers, however, can help secure a customer's purchase.
Here are five methods you can implement to make your evouchers more attractive for shoppers:
1.Make evouchers more visible
Make sure to display your evoucher details to your visitors on multiple marketing channels and on your website. You should also add a variety of designs for the customer to choose from.
2.Cross-sell to boost gift cards
Cross-selling is when you offer complementary or related items to the product in question. For example, buy a product and get a RM50 gift card for free. With this approach, you can easily clear out your inventory and, at the same time, give away evouchers.
3.Make your evouchers available on various channels
Ensure all your customers are aware of your evoucher promotions. You can also create tailored evouchers for different marketing channels (newsletters, social media, Google ads, etc.).
4.Talk about your evouchers
Be active when promoting your evouchers. Make sure you promote your evoucher's availability both online and offline.
5.Generate occasion-specific evouchers
Have evouchers for limited edition products or for celebrations like Valentine's Day. Customers love feeling special and having access to one-of-a-kind deals and offerings.
With aesthetic designs, evouchers can also help your business gain immense popularity and attract the attention of your target audience.
Enjoy Amazing Rewards at ZCITY
Evouchers are becoming a more popular gift and reward option. Head on over to ZCITY for incredible evouchers from Mr. Gadgets, Rueys Teashop, PS Legend Enterprise and more. Known as a platform that offers instant rebate and cashback programmes, ZCITY also advocates helping everyone enjoy multiple rewards while giving back to the community. Members and merchants get to enjoy affiliate cashback programmes too!
View our vast list of cash rebates, evouchers, hot deals and promotions for your groceries, food, transportation etc. There's something for everyone! Or, download the ZCITY app to stay up to date with the latest news, seasonal promotions and irresistible campaigns.
Southeast Asia, The Home For Digital Transformation. Facebook and Bain & Company, 2021.
e-Commerce Consumers Survey 2018. Malaysian Communications and Multimedia Commission.
Careful, shoppers: A gift card might actually make you spend more. MarketWatch, 2019.