Summary
In the last few years, consumers have eagerly adopted gift cards. Yet many large retailers still treat them as an afterthought. However, gift cards can generate very significant revenue and profits. L.E.K. Consulting has helped retailers and consumer goods companies design, launch and grow their gift card businesses, and in the process has identified the factors critical to maximizing gift card potential. This issue of Executive Insights explores the gift card opportunity, discusses which factors impact a gift card program's success, and outlines specific steps to launch an effective gift card strategy.
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