At the end of this month, the Retail Gift Card Association will host its annual Forum, where our organization will provide attendees with access to insights and research about closed-loop gift cards unavailable elsewhere. But ahead of that event, we wanted to provide a sneak peek of some of the key takeaways during this year's two keynotes.
One of the closed-loop gift card industry's leading providers of branded stored value solutions, Fiserv, will provide an overview of the history of innovation in payments and how this evolution has impacted the closed-loop gift card industry. Payments industry veteran Dom Morea will highlight where innovation is occurring within the industry while spotlighting consumer values and business needs that are driving transformation. Innovation continues to change the customer shopping journey and is a must for retailers to stay competitive -- Morea will explain why and offer strategies for using branded currency.
"Consumers' prepaid preferences and omnichannel payments demands, paired with increased uses and gift card applications, have driven significant growth across the closed-loop gift card industry," says Morea. "Our keynote will provide industry colleagues with a solid knowledge of gift card innovations to help better inform growth strategies."
Forum's second keynote will include exclusive consumer research from Stored Value Solutions, a leader in gift card processing and program management. The research will unveil how gift card buyers shop across different demographic segments and what retailers can do to attract different buyer groups effectively. Emerging consumer profiles will be broken down so that attendees can understand the gift card marketplace based on lifestyle choices, in-store and online shopping preferences, and more. These insights will inform attendees' gift card program strategy, differentiate buyers' journeys at a personal level, and preview an insider's perspective on the latest industry trends.
"Key takeaways will include specific opportunities for merchants to improve their gift card programs by solving common consumer pain points and supplying shoppers with the omnichannel experiences they crave," said Jenny Parris, senior vice president of global marketing and international sales at SVS.
Erin Wood holds more than 14 years of gift card industry experience and she is the board vice chair for the Retail Gift Card Association. The RGCA is the only nonprofit trade association that represents the closed-loop gift card category. For more information on the RGCA Forum, or to register to attend, click here.