The act of gifting has remained a major ingredient in building long-lasting relationships in every area of life. People are always looking out for the best convenient and flexible ways to express courtesy in terms of gifting, that’s one of the major purpose gift cards serves.
Norway in Europe is not left out in the use of these gift cards because it also has numerous benefits it yields to the country, starting from their indigenous culture to other sectors of the economy as far as gifting is concerned.
In this blog post, you‘ll learn about the use of gift cards in Norway, the advantages of using them, and discover the various types available.
The Gift Card market in Norway
The concept of gift cards first emerged in Norway during the late 1990s. Some retailers began exploring ways to simplify gift-giving and enhance customer experiences. They were primarily issued by large retail chains and major department stores as a means of promoting brand loyalty and increasing sales.
Recently, the gift card market has driven a wide range of factors, which supported growth across retail and corporate sectors of the economy. The primary factors included the growth of e-commerce, increased adoption to incentivize employees, digital gifting, and other initiatives undertaken by the government, hospitality, and travel industries to revive growth.
Positive Impact of Gift Cards to Norway
As gift-giving has become a significant aspect of the Norwegian economy, the use of gift cards has contributed greatly to helping businesses to thrive in the country.
The following are some of the benefits the cards yield to individuals, local businesses, and the economy at large:
1. Boosting Retail Sales and Local Economy
Gift cards play an important role in stimulating retail sales and boosting the local economy. When you redeem your gift cards, it often leads to increased income at various retail establishments. This surge in consumer or customer spending contributes to the growth of small and local businesses, promoting economic prosperity within the communities where the stores are situated.
2. Enhances Customer Engagement
Gift cards are powerful tools for building lasting relationships with customers. They serve as ideal incentives that encourage repeat purchases and reward customer loyalty. By offering gift cards as rewards or incentives, businesses can encourage stronger bonds with their clientele, leading to increased customer engagement and loyalty to the brand.
3. Increased Brand Visibility and Awareness
Gift cards provide an opportunity for businesses to enhance their brand visibility and increase awareness. People may receive gift cards to certain stores that they have not visited before, thereby introducing new potential customers to the brand. Also, happy customers who received these cards may share their positive experiences with others, leading to valuable word-of-mouth marketing.
4. Empowers Charitable Causes and Non-Profit Organizations
Gift cards can be used to support charitable causes and non-profit organizations, just like in other countries, in Norway, they grant people the chance to contribute to social and environmental issues. By partnering with charities, the card providers create avenues for donors to make a positive impact on society with their choices of gifts.
5. Promotes SMART goals in Financial Issues
Gift cards encourage specific, measurable, achievable, relevant, and time-bound goals in the area of expenses. One can set a specific budget for gifting and consider how it meets the interest of the receiver, and how to achieve that by sending it through the most flexible way within the valid period of the card. This helps to promote financial responsibility.
6. Drives Online and Mobile Commerce
Engaging customers with the use of gift cards has contributed to the growth of online and mobile commerce. The ease of purchasing and redeeming digital gift cards has encouraged a lot of customers in online shopping, leading to improved market trends. As more customers embrace the convenience of digital gifting, businesses have adapted their strategies to meet the demands of tech-savvy shoppers from their comfort zone, further propelling the growth of online and mobile commerce.
7. Enhances Education and Skill Development
Gift cards extend beyond material items; they also support education and skill development in Norway. Offering customized educational cards for online courses, workshops, or professional development programs empowers beneficiaries with opportunities for self-improvement and lifelong learning.
What are the Types of Gift Cards in Norway?
Just like in different countries in Europe, Norway also has different types of these cards incorporated into its economic system to suit different individual interests. The following are some of them with their examples:
1. Multi-Store Gift Cards
If you appreciate the variety and the freedom to choose, these types of cards would be a very good option. You can always use them to pick from a range of partner stores within the country.
In Norway, one popular platform that uses multi-store gift cards is Nordic Extravagant Shopping which offers various gift cards. Some of these include the following:
- Nordic Yarn Gift Cards: This is a downloadable gift card used to buy products sold on the Nordic Yarn website.
- Citadel Outlet Gift Cards: This is another Multi-Store Gift Card offered by Citadel Outlets for birthdays, anniversaries, employee incentives, holidays, or just because gift cards at over 130 brand name stores.
2. Store-Specific Gift Cards
When looking for a gift tailored to someone’s interests, these cards come to the rescue. They are designed to be used at a particular store or brand in the country. From luxury fashion boutiques to tech-savvy gadget stores, Norway has a wide range of them.
Popular examples include the following:
- Nordic Style Emporium Gift Cards: They are used to buy clothes from Nordic SYV.
- Gadgets Galore Gift Cards: Used for the purchase of gadgets and other gift items for tech-savvy persons.
3. Subscription Service Gift Cards
Subscription services have transformed how we access various products of entertainment. Gifting a subscription service through gift cards introduces one to a world of fun, from streaming platforms to Meal Kits.
In Norway, some services offer a range of these card options which include the following:
- Norway iTunes Gift Cards: They are used to buy movies, TV shows, apps, games, subscriptions, etc.
- Netflix Gift Card 250 NOK: This card is offered by Netflix Inc., a streaming company. It is available in Norway for streaming movies and other entertainment content.
4. Non-Profit and Charity Gift Cards
As the name goes, they are dedicated to charitable and social welfare causes in Norway. They are all available all over the country as physical, Digital, or E-Gift Cards for philanthropic activities.
The following are examples of some of them :
- Caring Hearts Foundation Gift Cards: This is provided by the Non- Profit Organization to help the needy, especially children.
- Norwegian People’s Aid Gift Card: This is used to donate to the humanitarian activities of the charity organization.
5. Virtual Reality (VR) Gift Cards
These cards provide access to virtual reality experiences in the entertainment industry.
From thrilling gaming adventures to captivating virtual tours, VR gift cards offer unparalleled escapades for game enthusiasts. One popular choice is:
- Norway PSN Gift Card: This Play Station card grants you access to the entire catalogue of the Norway PSN Store. It can be used to buy games for yourself, loved ones, subscribe to PSN Plus, or download music and movies.
Most of the VR Gift Cards in the country can be redeemed internationally. A Popular example is:
- Steam Gift Card in Norway: It is redeemed on Steam to buy games, software, hardware, and any other item you can purchase on the Steam Website. It is an excellent choice for game lovers in Norway.
6. Experience Gift Cards
Material possessions aren’t the only way to create lasting memories. These cards offer you the opportunity to partake in thrilling adventures, cultural escapades, or outdoor relaxation activities.
The gift of an experience can leave an indelible mark, on a loved one making it a favoured choice for many. In Norway, companies like Nordic Escapes help their visitors to create unforgettable experiences through their gift cards, ranging from scenic cruises to adventurous excursions.
- Nordic Ways Gift Card: Used to have memorable experiences for relaxation, Spa and steam treatments, Detox and Beauty, Skin Rejuvenation, etc.
- Fjourd Tours Gift Card: Fjord Tours is a member of the Norwegian Travel Guarantee Fund that offers gift cards for various holiday experiences on tours in the country.
Can Gift Cards Be Sold in Norway?
Yes, they can, although it is very important to thoroughly research and consider some factors before doing so. Some of the factors to consider before selling your gift cards include the following:
1. Understand the Legal Requirements
You must familiarize yourself with Norway’s consumer protection laws. The country has strict regulations in place to safeguard consumers and ensure fair practices.
Understanding the validity periods and expiry dates of gift cards is also crucial. In Norway, gift cards generally have a minimum validity of five years from the date of purchase.
2. Choose the Right Format
When you want to venture into the gift card market, you need to consider offering different forms of cards, both physical and digital or E-Gift Card options. While physical cards provide a tangible and gift-giving experience, digital cards are best for online shopping and convenience.
3. Partner with Reputable Brands
Building trust and credibility is essential in the gift card business. You should collaborate with well-established brands or reputable retailers whose records can boost the perceived value of the cards. It also expands the customer base, as buyers are more likely to purchase gift cards associated with brands they trust and admire.
4. Offer Versatile Gift Card Denominations
Make sure you have a wide range of budgets in consideration, it’s best to offer cards with various denominations to suit different financial plans.
You can also provide the option for customizable denominations to allow potential buyers to select a value that suits their specific requirements without being under any form of financial pressure.
5. Have Clear Terms and Conditions
Transparency is key in any business transaction. It’s important you clearly outline the terms and conditions of the gift cards, including any restrictions on their use or redemption process. Educating potential buyers about how and where the cards can be redeemed can be of great help to them.
6. Implement a Secure Transaction System
Make security a top priority in your gift card business to protect against fraud and scams. You need to implement encrypted codes and strict authentication measures to prevent unauthorized use or tampering of gift cards by third parties.
7. Offer Value-Added Services
To differentiate your gift cards from competitors, consider having some discount offers or bonuses to make the card purchase more appealing to your customers.
8. Implement Customer Support Service
You should consider having responsive customer support for your customers. Timely responses to inquiries and issues help to ensure a positive customer experience and build trust with buyers.
9. Consider Loyalty Programs
You should always encourage customer loyalty by implementing loyalty programs that reward your loyal customers. These programs help to motivate buyers to return to your business for future business transactions.
Read Also: Types of Giftcards in Mexico
Where to Sell Your Gift Cards in Nigeria?
Before looking for where to sell your gift cards, it’s very crucial to consider the above tips for choosing a reliable platform. In Nigeria, need to consider a platform that offers all the important tips and even more. The best platform to sell your gift card in Nigeria is Snappy Exchange.
We are a leading E-currency & gift card trading platform in Nigeria, with a thorough knowledge of the Nigerian and International gift card market. Our customers can trade their gift cards, and cryptocurrencies, buy airtime, and data, and pay bills on our friendly User Interface platform.
Why You Should Sell Your Gift Cards With Snappy Exchange
1. Best Card Rates
We offer you the best rate for any sales you make with us. This is because we are poised on helping you to maximize the value of your cards. You can check them out on our website and start your exciting journey in gift card sales.
2. Responsive Customer Support
We do not leave our customers stranded. That is why our contact channels are available 24/7 to ensure that we are at your reach any day, anytime. You can contact us via our website or download our mobile App to know more about us.
Also, we ensure we build trust and satisfaction with all our customers. We have built trust, maintained transparency, and always addressed any customer concerns or complaints promptly.
3. Secure Transaction System
We have implemented measures to ensure that all transactions you make on our platform are not just safe but also that your details are secured.
4. Referral Bonuses and Value-added Services
We reward you for all referrals who complete their orders on our platform. This has also helped us to build long-term relationships with our customers who keep coming back and referring others to us. You can register with us today and share your referral link to keep your cash rewards rolling in.
5. Quick Payments
Our payments are fast, and there are no delays with our payouts. Our orders are processed with speed. We are best when it comes to selling your gift cards, payments are fast after confirmation and completed within a few minutes.
How To Sell Gift Cards On Snappy Exchange
The following steps would help you to sell your gift cards on our platform:
Step1: Visit our website or download our mobile app
Step 2: Click on “Login” at the upper right side of the menu bar
Step 3: Enter your email and a password, then go ahead and sign in
Step 4: On the next page, click on “Sell Gift Card” at the upper right side of the page
Step 5: Select the type of Gift Card you want to sell on the next page
Step 6: Select the country, card type, and quantity you want to sell and submit
Step 7: Upload a high-quality image of your card and submit
Once your card is uploaded, your account would be credited immediately, in less than 10 minutes.
Conclusion
Norway has a wide variety of gift cards. These gift cards are a popular choice for both givers and recipients since they allow the donor to choose the perfect present while letting the recipient choose something they truly want. However, it’s essential to understand the regulations, trends, and best practices associated with selling gift cards in Norway to ensure a successful venture. Additionally, you can conveniently sell your gift cards on the Snappy Exchange platform. We implemented all the factors necessary to sell your gift cards on our platform. Our services are indeed second to none. Are you ready to join our happy customer base to make more money from selling gift cards? Go to our website to get started.