The concept of gift-giving has become an integral aspect of every culture because it helps people to appreciate one another easily through the presentation of gifts. The use of gift cards makes this easier because it remains the most flexible form of gifting in the world.
A lot of countries have adopted this form of gift-giving and Malta is one of them. In this blog post, we would explore the gift card system in Malta, the economic benefits they yield in the country, and the types available.
Gift Cards in Malta
As gift cards became more popular, Maltese businesses quickly embraced this new way of giving, offering their own branded cards to customers. Retailers and financial institutions in the country facilitated the gradual integration of gift card systems into the economy.
They further implemented government regulations and policies to help protect consumers’ rights and ensure fair practices amongst those offering the cards and their customers.
The cards have become a common choice during festive occasions and celebrations in the country.
What are the Benefits of Gift Cards to Malta?
Indeed, gift cards have proved to be valuable to the economy, giving lots of benefits to businesses, consumers, and the overall market. As they dominated the market, their economic impact became more significant. The following are some of the benefits to Malta:
1. Stimulates Economic Activities
The cards encourage consumers to visit local businesses and spend their value because they boost consumer spending and stimulate economic activities. This in-flow of funds into the economy can have a positive ripple effect and supports various sectors to create a thriving marketplace.
2. Promotes Customer Retention
Businesses that offer their customized cards often witness increased customer loyalty. Some of their customers who enjoy their shopping experience with the cards are more likely to return as regular customers, building long-term relationships between businesses and customers.
3. Customer Base Increase
In Malta, the culture of giving often involves introducing new customers to businesses through the use of gift cards. When you receive a gift card from a particular store or restaurant, you may be enticed to try it out, even if you haven’t visited before. This expands the potential customer base for the business you patronize.
4. Supports Small Businesses
Gift cards are an excellent way for smaller, locally-owned businesses to compete with larger retailers. By using and accepting these cards, they can attract more customers and remain competitive in the market.
5. Decreases Product Returns
Unlike traditional gifts, which can sometimes be unwanted because they are not what the receiver wants, and so it results in product returns or exchanges. Gift cards empower you to choose items you genuinely wish to, reducing the likelihood of returns and minimizing associated costs for businesses.
6. Encourages Off-Season Sales
Gift cards provide a revenue stream even during off-season periods when sales might naturally slow down. In Malta, one can purchase gift cards throughout the year for various occasions, ensuring a steady income for businesses in the country.
7. Data and Marketing Opportunities Insights
Gift card systems can collect valuable data on customer preferences and spending habits. Businesses can use this data to tailor their marketing strategies and promotional offers, resulting in more targeted and effective campaigns.
8. Supports the Hospitality and Tourism Industry
Gift cards play a crucial role in the hospitality and tourism sectors in the country, allowing visitors to experience various local attractions, hotels, and restaurants. This, in turn, aids Malta’s tourism industry and generates revenue for these establishments.
9. Eases Corporate Gifting and Incentive Programs
Companies often choose gift cards as rewards for their employees or as corporate gifts for clients. The ease of purchasing and distributing gift cards supports businesses in various industries in the country.
Read Also: How to Sell Gift Cards on CoinCola
What are the Types of Gift Cards in Malta?
There are various types available, and each one serves a specific purpose. The following are some of them:
1. Retailer-Specific Gift Cards
These cards are designed to create a more personalized gifting experience among customers. They are tailored for specific stores or brands, and they often come with unique designs and themes, reflecting the retailer’s identity.
They are very popular for special occasions, such as birthdays or anniversaries, where you can indulge in your favourite products or services. Some of the popular examples include the following:
- Lowe’s Gift Cards: They can be redeemed at any Lowe’s Home Improvement Store within the country. Their stores stock up to 40,000 products in 20 product categories which include appliances, tools, paint, lumber, and nursery products. They also have hundreds of thousands of more products available by Special Order by their customers which provides everything needed to build, maintain, beautify, and enjoy their homes.
- JCPenny Gift Cards: This is one of America’s leading department stores, where you can purchase anything from the latest fashion trends for all the family to furnishings that will transform any house into a home. Their cards are used to access these products and services at any JCPenny stores in Malta.
2. Multi-Retailer Gift Cards
These cards have emerged as an excellent means of presenting gifts in a fast-paced world where convenience is very vital. They are versatile cards that encompass different retailers under one umbrella, which grants you the freedom to choose from multiple options.
They can cover different industries, such as fashion, dining, entertainment, and lifestyle, presenting an ideal solution for people with various tastes. Companies in Malta offering such cards have strategically partnered them with a broad spectrum of retailers, making them a go-to choice for those seeking convenience with variety.
The following are some of the examples:
- Outback Gift Cards: It is used on different blooming brands which include; Outback Steakhouse, Bonefish Grill, Carrabba’s Italian Grill, Fleming’s Prime Steakhouse & Wine Bar, Outback and Carrabba’s Express, and Aussie Grill.
- One4allGift Voucher: It is an E- Gift Card that can be redeemed for various brands and occasions in Malta. The brands cut across various sectors like entertainment, fashion, etc.
3. Company Gift Cards
In the corporate world in many countries, gift cards have become a popular choice for employee rewards, client appreciation, and corporate gifting programs. They serve as practical and meaningful incentives for employees to acknowledge their hard work and dedication. Also, they help to strengthen business relationships and foster loyalty among staff.
They can be designed to suit specific occasions (single purpose) or can be multi-retailer cards, giving the companies the freedom to use them according to their preferences. Companies in Malta often use them during festive seasons, employee milestones, or to celebrate successful collaborations with their partners.
The following are some examples available in the country:
- Avantech Gift Voucher: Issued by the Avantech Group to purchase office equipment and related products in Malta.
- Join Well Malta Gift Card: This card is offered by JoinWell company Malta to purchase their products which include furniture, home accessories, etc.
4. Subscription Service Gift Cards
These gift cards offer access to various subscription services, allowing you to explore new hobbies or indulge in activities you enjoy.
The subscription options can range from streaming platforms for movie lovers to gourmet food boxes for culinary enthusiasts. In Malta, the popularity of subscription-based gifts has risen as people seek more memorable experiences over material goods.
One popular example is the iCentre Gift Voucher an Apple’s Premium Reseller that offers gift cards for all the services of Apple in Malta, including live streaming of movie series, etc.
5. Non-Profit Gift Cards
For those looking to make a positive impact in the lives of others with their gifts, non-profit gift cards provide a wonderful solution to that. They allow you to donate a gift card balance to a charitable cause or non-profit organisation of your choice.
By supporting various social, environmental, or humanitarian causes, these cards carry the spirit of giving back to the community.
Many people find joy in knowing that their gifts contribute to meaningful initiatives, making these cards a powerful tool for spreading love and showing compassion and social change in Malta. The following are some of the examples:
- Lovin Malta Gift Card: Lovin Malta is an organization that works with local foundations, homes, and NGOs to distribute festive gift boxes to vulnerable people and animals in different categories. They have different gift cards for different humanitarian missions, making it more flexible to donate to positively impact people’s lives.
- Caritas Malta Gift Card: It is offered by the NGO; Caritas Malta, used to donate to various vulnerable groups in the country.
6. Gift Cards for Travel Experiences
The joy of exploring new horizons and creating unforgettable memories cannot be understated when it comes to using gift cards. Some are specifically designed for travel and experiences and they help to explore a large world of adventure and relaxation.
You can redeem these cards for hotel stays, airline tickets, or guided tours, making their travel dreams come true. The following are some of the examples:
- Air Malta Gift Voucher: This is offered by Air Malta; a travel agent to travel and it is an excellent gift for any occasion from birthdays, to graduations and as gifts for holidays.
- FCM Travel Malta Gift Cards: It is used to redeem all travel-related services offered by FCM Travel Solutions in Malta.
Can I Sell Gift Cards in Malta?
Yes, you can sell your gift cards in Malta but before selling your gift cards, you need to verify the authenticity of the platform and evaluate its level of risk of fraudulent activities. In Malta, you can sell your gift cards on different platforms. The following are some of them:
1. Social Media Groups
Facebook Groups or dedicated online marketplaces in Megatekk, have sections for selling various items, including gift cards, other platforms are Gift Cards near Valletta, Malta Facebook Group, and Gift cards near Birkirkara, Malta, another group with potential buyers.
You can join the relevant groups or platforms and post your card for sale. Make sure you provide all the necessary information.
2. Gift Card Exchange Platforms
A gift card exchange platform is an online marketplace or service that facilitates the buying, selling, and trading of gift cards between individuals or businesses. They can be beneficial for both gift card sellers who want to convert their cards into cash and gift card buyers who are looking to get discounted gift cards for their favourite stores or restaurants.
There are various platforms where you can sell your gift card. An example of such a platform is Snappy Exchange. This is the most reliable site to sell gift cards in Nigeria that gives the best rates for gift cards and pays at the fastest speed.
Why Snappy Exchange?
1. Best Rates
We give you the best rate ever for any gift card sales you make with us. You can check them out on our website to embark on a seamless experience start in the world of Gift Card sales.
2. Prompt and Responsive Customer Support
We focus on prompt customer service at any time of the day. That is why our contact channels are available 24/7 to ensure we are at your reach any day, anytime. You can contact us via our website or chat with us at +2348156010101.
3. Secured Transactions
All transactions on our platform are safe and secure, not around any scam zone. We have put in strict measures to ensure that your details are safe and payments are secured too.
4. Referral Bonus Points
These have been put in place to ensure that our loyal customers are duly appreciated. We reward all referrals that lead to completed sales on our platform.
How To Sell Gift Cards On Snappy Exchange
The following steps would help you to navigate our platform and Sell your cards.
- Visit our website or download our mobile app from your Google play store
- Click on “Login” at the upper right side of the menu bar
- Enter your email and password and sign in
- On the next page, click on “Sell Gift Card” at the upper right side of the page
- Select the type of Gift Card you wish to sell on the next page
- Select the country, card type, and quantity you want to sell and submit
- Upload your card and submit it. After uploading your card, you’ll receive your cash within 2-10 minutes.
Gift cards contribute to the growth and stability of the Maltese economy especially in the business sectors. They facilitate consumer spending, promote local businesses, and offer a range of advantages for both the givers and receivers. As the gifting system continues to evolve, they are likely to remain a key driver of economic activity in Malta.
While they offer an excellent gifting solution, you must be aware of the regulatory and legal aspects surrounding their use. Consumer rights and protection should be considered, ensuring that their terms and conditions are fair and transparent
Also, gift cards used in Nigeria help to support local businesses in the country and to strengthen international bonds. That’s why Snappy Exchange is here to ensure that you have a seamless experience while selling them on our platform. We are indeed the best brand to identify with in terms of selling gift cards.