In today’s rapidly evolving rewards ecosystem, one trend is redefining how brands recognise, motivate, and retain their stakeholders — the rise of gift cards as the universal reward choice.
Once regarded merely as festive giveaways, gift cards have now become central to modern reward and loyalty programs across employees, channel partners, influencers, and consumers.
From BFSI and Telecom to FMCG, Cement, Paint, and D2C brands, organisations are embracing gift cards for what today’s audiences value most: instant gratification, choice, and flexibility.
Even in traditionally rigid rewarding setups like channel loyalty, where gifts or cash dominated, digitalisation is ushering in a significant shift, making gift cards the preferred reward.
“Gift Cards have become the new currency of engagement,” says Saurabh Jain, Founder & CEO, Benepik. As organisations increasingly prioritise flexibility and personalisation, traditional physical gifts and merchandise no longer meet expectations. With reward and incentive programs modernising across industries, the transition from slow, manual processes to instant digital rewarding has become essential. “Brands have realised that speed drives loyalty, be it in their relations with employees, channel partners, or customers,” adds Saurabh Jain.
This shift was more evident during the recent festive season, as organisations opted for gift cards over traditional hampers, valuing the freedom, convenience, and personalisation they offer.
Benepik recorded significant growth in its gift card business, mirroring the changing landscape of corporate gifting.
Why Gift Cards Are Becoming the Preferred Reward
1. Universal Appeal:
Whether it's an employee celebrating a milestone or a dealer redeeming loyalty points, gift cards appeal to every demographic.
2. Freedom of Choice:
A gift card respects personal preference, whether someone wants groceries, electronics, fashion, travel, or food delivery.
3. Instant, Digital, and Seamless:
With digital delivery, rewards are delivered instantly to users' mobile devices, making gratification real-time and memorable.
4. Secure and Trackable:
Gift cards ensure full compliance, traceability, and fraud resistance, especially critical for BFSI, insurance, and channel programs.