Do you need sales incentives to inspire or reward your employees?
Do you need sales incentives to inspire or reward your employees?
A gift card from GoGift can do exactly that!
A gift card from GoGift can do exactly that!
GIFT CARDS FOR SALES INCENTIVES
Are you tired of giving the same old-school, impersonal cash rewards to your well-performing employees?
Start giving a more personal gift, such as a gift card from GoGift, that can not only reward but also motivate your employees. Read more about how gift cards can be the perfect addition to your sales incentives programs below.
GIFT CARDS FOR SALES INCENTIVES
Are you tired of giving the same old-school, impersonal cash rewards to your well-performing employees?
Start giving a more personal gift, such as a gift card from GoGift, that can not only reward but also motivate your employees. Read more about how gift cards can be the perfect addition to your sales incentives programs below.
What is a sales incentive?
An incentive is, in other words, a reward. It can motivate and encourage your employees to perform better, feel good about themselves, and it can, in general, lead to better well-being of your employees.
BENEFITS OF USING SALES INCENTIVES
Create motivation and better employee satisfaction
Sales incentives are often used to motivate employees in the sales team or to acquire better customer loyalty. The idea of a sales incentives program is to reward great performances individually or team-wise. When people are rewarded for an excellent effort, they feel motivated to keep on working to achieve their goals. Also, sales incentives make the employees feel appreciated.
What is a sales incentive?
An incentive is, in other words, a reward. It can motivate and encourage your employees to perform better, feel good about themselves, and it can, in general, lead to better well-being of your employees.
BENEFITS OF USING SALES INCENTIVES
Create motivation and better employee satisfaction
Sales incentives are often used to motivate employees in the sales team or to acquire better customer loyalty. The idea of a sales incentives program is to reward great performances individually or team-wise. When people are rewarded for an excellent effort, they feel motivated to keep on working to achieve their goals. Also, sales incentives make the employees feel appreciated.
GIFT CARDS AS SALES INCENTIVES
A sales incentive for all
A sales incentive is not just cold cash rewards; it can also be an object, an item of value, an event, or a desired action. Whatever your colleagues are inspired by, you can find it at GoGift: We have experienced that a gift card is a perfect choice for sales incentives due to the large selection of different things that our gift card gives access to.
With our Global Gift Card, your employee or customer has a free choice to choose if the gift card should go to a dinner with family or friends, new clothing, a new exciting experience, or something completely different. The selection is big, and we guarantee that there is something for all of your workers.
GIFT CARDS AS SALES INCENTIVES
A sales incentive for all
A sales incentive is not just cold cash rewards; it can also be an object, an item of value, an event, or a desired action. Whatever your colleagues are inspired by, you can find it at GoGift: We have experienced that a gift card is a perfect choice for sales incentives due to the large selection of different things that our gift card gives access to.
With our Global Gift Card, your employee or customer has a free choice to choose if the gift card should go to a dinner with family or friends, new clothing, a new exciting experience, or something completely different. The selection is big, and we guarantee that there is something for all of your workers.
Why use Gift Cards for sales incentive?
There are a lot of good reasons for using gift cards as sales incentives. And because of the flexibility of The Global Gift Card from GoGift, you can use it for all kinds of sales incentives. Give it to your sales team members for good performances or send your regards to a new business partner.
No matter what reason you have to use a sales incentive or make a sales incentives program, it is a win-win situation: Your employees win because they are rewarded for their hard work, and your company wins because it is more likely to achieve the company goals.
You can read more about how you can use a gift card for sales incentives below.
Employee Awards
Have your sales team performed above average? A great way to reward and motivate your employees, even more is by giving them a gift card to spend on whatever they want, however, and whenever they like.
Consumer Promotion
A great way to create better customer loyalty is by giving gift cards that your clients can use how they want. You can also raise customer satisfaction with a gift card from GoGift. If you have international business partners, remember our Global Gift Card is cross-borders and cross-currencies - read more about this further down the page.
Festive Gifting
Congratulate your employees on a good, profitable year on New Year’s Eve, or celebrate the festive days with a gift card from GoGift. It is the perfect way to send your coworkers home with motivation and happiness running through their veins.
Retention Programs
A gift card now and then can help you maintain your most valuable assets: Your employees. Employee satisfaction costs time and money, and an easy way to raise the satisfaction of your employees is to give a gift card for them to spend how they want.
Sales incentives increase the overall perfromance!
Studies show that sales incentive programs aimed at individual workers increase performance by 22 per cent, and programs aimed at teams increase performance by a staggering 44 per cent. No matter how you choose to reward your employees, you are most likely to gain from it. Start by giving gift cards from GoGift that can be used by everyone on a lot of different things.
YOUR ONE-STOP SOLUTION
The Global Gift Card from GoGift!
Are you looking to boost sales, motivate employees or gain a higher customer value? Then the Global Gift Card is the solution for you. Our Global Gift Card is the absolute, most popular gift card for businesses as it can be used for motivation and rewards. And what better way to reward your employees than a gift they will appreciate and love?
With the Global Gift Card, you can freely choose the card’s value, and the receiver has a free choice of where the card should be used and on what.
A gift that can travel across borders!
With The Global Gift Card, you can send thoughts, presents and motivation across borders and get the card’s value transferred to another currency. That means; if you have bought a card in one country, it can be transferred to another country and another valuta. You can buy as many gift cards as you want, customise and personalise them, and we are responsible for the delivery to all the countries where you have employees. It has never been easier to create a sales incentives program for your entire international business.
BENEFITS OF USING SALES INCENTIVES
A gift card that gives access to different things
When your employees receive the Global Gift Card, they are free to choose between all the different stores, webshops and experiences that can be found at GoGift. That way, you are sure to give a gift that your employees can find a use for.
The gift card has a long expiration date, so the receiver can take their time selecting from the wide variety of shops and experiences that can be found at GoGift.
Why use Gift Cards for sales incentive?
There are a lot of good reasons for using gift cards as sales incentives. And because of the flexibility of The Global Gift Card from GoGift, you can use it for all kinds of sales incentives. Give it to your sales team members for good performances or send your regards to a new business partner.
No matter what reason you have to use a sales incentive or make a sales incentives program, it is a win-win situation: Your employees win because they are rewarded for their hard work, and your company wins because it is more likely to achieve the company goals.
You can read more about how you can use a gift card for sales incentives below.
Employee Awards
Have your sales team performed above average? A great way to reward and motivate your employees, even more is by giving them a gift card to spend on whatever they want, however, and whenever they like.
Consumer Promotion
A great way to create better customer loyalty is by giving gift cards that your clients can use how they want. You can also raise customer satisfaction with a gift card from GoGift. If you have international business partners, remember our Global Gift Card is cross-borders and cross-currencies - read more about this further down the page.
Festive Gifting
Congratulate your employees on a good, profitable year on New Year’s Eve, or celebrate the festive days with a gift card from GoGift. It is the perfect way to send your coworkers home with motivation and happiness running through their veins.
Retention Programs
A gift card now and then can help you maintain your most valuable assets: Your employees. Employee satisfaction costs time and money, and an easy way to raise the satisfaction of your employees is to give a gift card for them to spend how they want.
Sales incentives increase the overall perfromance!
Studies show that sales incentive programs aimed at individual workers increase performance by 22 per cent, and programs aimed at teams increase performance by a staggering 44 per cent. No matter how you choose to reward your employees, you are most likely to gain from it. Start by giving gift cards from GoGift that can be used by everyone on a lot of different things.
YOUR ONE-STOP SOLUTION
The Global Gift Card from GoGift!
Are you looking to boost sales, motivate employees or gain a higher customer value? Then the Global Gift Card is the solution for you. Our Global Gift Card is the absolute, most popular gift card for businesses as it can be used for motivation and rewards. And what better way to reward your employees than a gift they will appreciate and love?
With the Global Gift Card, you can freely choose the card’s value, and the receiver has a free choice of where the card should be used and on what.
A gift that can travel across borders!
With The Global Gift Card, you can send thoughts, presents and motivation across borders and get the card’s value transferred to another currency. That means; if you have bought a card in one country, it can be transferred to another country and another valuta. You can buy as many gift cards as you want, customise and personalise them, and we are responsible for the delivery to all the countries where you have employees. It has never been easier to create a sales incentives program for your entire international business.
BENEFITS OF USING SALES INCENTIVES
A gift card that gives access to different things
When your employees receive the Global Gift Card, they are free to choose between all the different stores, webshops and experiences that can be found at GoGift. That way, you are sure to give a gift that your employees can find a use for.
The gift card has a long expiration date, so the receiver can take their time selecting from the wide variety of shops and experiences that can be found at GoGift.
GENERAL FACTS ON
Singapore
5.6M
Population
Singapore
Capital
English / Malay / Mandarin / Tamil
Official language
Singapore Dollar
Currency
National holidays
Singapore gift card market size
In value terms, the gift card market in Singapore has recorded a CAGR of 10.0% during 2018-2022. The gift card industry in Singapore will continue to grow over the forecast period and is expected to record a CAGR of 8.8% during 2023-2027. The gift card market in the country will increase from US$ 1,165.0 million in 2022 to reach US$ 1,790.4 million by 2027.
Singapore, the pulsing heart of Southeast Asia, is known for being the epicentre of many innovations and advancements, including in the area of retail. In a place full of luxury malls and high-end retail concepts, global brands test out concepts and market acceptance, boosting the domestic gifting market. With almost 30% of the population being expats, multinational corporations make use of corporate gifting for welcome packages, celebrating cultural festivals and community building events.
Economic conditions, technological advancements, and shifts in corporate culture are among the most important influencing factors driving the gift card market. As Corporate Social Responsibility and sustainability shift into focus, the popularity of e-gift cards and digital vouchers is likely to rise. An increased focus on employee well-being and work-life balance could result in increased investments in the holistic health and happiness of employees.
Singapore gifting traditions
Singapore, as a melting pot of nationalities, ethnicities, and cultures, boasts a nuanced gift-giving practice intricately woven into its cultural fabric, a tapestry enriched by the country’s diverse population. This diversity, composed of Chinese, Malay, Indian, and various other communities, shapes a mosaic of unique gift-giving traditions.
Navigating this landscape can be challenging. However, no matter the culture, etiquette emerges as a guiding force in gift-giving, drawing a sharp distinction between formal and informal settings. Considering the corporate as well as cultural context becomes vital, influencing the choice of gifts and their presentation in adherence to established social norms.
Within the Chinese community, gifts are usually given during Chinese New Year. The tradition of offering red envelopes (红包, hong bao) may extend even to close corporate contacts. However, the recipient may politely refuse a gift two or three times before accepting it, in order to not appear greedy.
In contrast, among the predominantly Muslim Malay community, the acceptance of gifts is met with pleasure, often leading to reciprocal gestures. During Hari Raya Puasa, green envelopes containing money become tokens of celebration exchanged among friends and family.
The corresponding Indian or Hindu gift-giving occasion are Diwali celebrations, where it is customary to bring gifts as a symbol of goodwill and shared celebration – although the belief in the auspicious nature of odd numbers extends to these presents.
Beyond the mentioned cultural practices, Singapore upholds strict anti-bribery laws, particularly emphasizing that government employees cannot accept gifts of any kind.
In the context of social gatherings, the act of giving small gifts is communal, extending the gesture to everyone present. While gifts are offered as welcome or thank-you gestures, there is a cultural inclination not to make them overly extravagant.
Gift card regulations in Singapore
Gift card regulation in Singapore is subject to various laws and regulations to protect consumers and ensure transparency in the gifting industry.
Expiration: Expiry dates of gift cards are set by the provider, and may be set as shorts as 90 days after purchase.
Cash Exchange: Gift cards are not exchangeable for cash.
Multi-Use: Whether multiple redemptions per gift card are possible is up to the provider.
Corruption/Bribery: It is absolutely prohibited to offer gift cards to government officials.
It's important to note that regulations may change, so always check the latest guidelines with Singapore's government or appropriate regulatory bodies. Moreover, the specifics and prerequisites might differ based on the gift card type, its provider, and other considerations.
If you're considering buying or utilizing gift cards in Singapore, ensure you read the issuer's terms and conditions and consult with legal experts if necessary.
Popular gift cards in Singapore
In the bustling world of gift cards in Singapore, it's a pleasure to introduce some of the brands that have made a mark in their respective industries.
Miniso: Attractive for its affordable yet trendy products, Miniso appeals to consumers seeking a balance between quality and affordability.
Qoo10: Asia’s leading online marketplace with over 10 million products to choose from, providing convenience and variety in the shopping experience.
iStudio: Appealing for its premium selection of Apple products and accessories, drawing in consumers who value cutting-edge technology and sleek design.
Adidas: Renowned for its sports-inspired fashion and high-quality athletic wear, Adidas appeals to Singaporeans who prioritize style, comfort, and performance in their activewear choices.
Guardian: A leading health and beauty retailer, Guardian is known for its extensive range of wellness products, skincare, and pharmaceuticals, meeting the diverse health needs of Singaporean shoppers.
Sephora: The premium shopping experience and access to a variety of international beauty brands that Sephora offers is greatly appreciated by Singapore’s high-end consumers.
Ikea: Popular for its affordable and stylish furniture options, creating a one-stop shopping destination for those looking to enhance their homes.
GrabFood: Sought-after for its convenience and wide range of food options, GrabFood appeals to busy Singaporean customers seeking quick and diverse meal choices delivered to their doorstep.
Razer Gold: Elevate your gaming experience – the Razer Gold Gift Card is your access to a world of exclusive games and in-game content.
Lazada: Shop, surprise, and delight – the Lazada Gift Card is your passport to a vast marketplace of gadgets, fashion, and more.
Benefits of B2B gifting in Singapore
In Singapore, B2B Gifting holds several benefits, leveraging cultural traditions, the presence of a diverse expat community, and broader trends in corporate gifting.
Through corporate gifting, companies are able to demonstrate cultural sensitivity by aligning their gifts with local traditions, which can help building stronger relationships with local businesses and clients. Given the significant expat community in Singapore, B2B gifting provides an opportunity for companies to connect with and appreciate the diverse backgrounds of their international clients and partners.
Customizing gifts based on cultural preferences fosters a sense of inclusion and respect. Aligning gifts with such partialities as well as adhering to local etiquette contributes positively to the corporate image and can set a company apart from its competitors.
The Global Gift Card
Choosing a specific gift might unintentionally convey a message that could be misinterpreted in a diverse cultural setting. How can you respect individual choices, respect etiquette differences, avoid misinterpretation and offer flexibility and inclusivity? GoGift has the solution for you: With The Global Gift Card, recipients are able to make the choice of present themselves.
