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  • Writer's pictureK+H Connection

Flourish in a Flash Extras: Buyatab Beyond Recap

Updated: Aug 22, 2019

In the latest Flourish in a Flash, Holly and Kristen provide a special recap of Buyatab Beyond, a unique industry event hosted in Montreal. This recap includes insights into industry differences between Canada and the US, current and shifting fraud trends, a different perspective on how gift card can help a brand's marketing efforts, three key B2B trends.

Listen to the full episode now:

Key takeaways from the episode include:

Fraud Trends

  • Device takeover is a prominent point of concern

  • Fraud is expected to reach upwards of $130B by 2023

  • There is a 30-60% rise in credit card fraud attempts but a 50% reduction in chargebacks likely due to consumers not paying attention to their credit card statements

  • Fraud is an ever-changing challenge

Marketing Trends

  • Millennials and Gen Z care about supporting an organization with a mission they care about and gift card can help communicate your brand's stance and areas of support

  • Gift card has always been a part of showing the brand cares and it's key to build a strategy around communicating that piece

  • Personalization is essential

  • One of the biggest hinderances to personalized omni channel gifting is that data is siloed. If you can share data, you can get creative and connect with consumers in a whole new way.

California Consumer Protection Act

  • Starts in January 2020

  • Calls for transparency with consumer data and requires a strong reason for keeping data.

B2B Trends

  • Speed is key to integration and API access is essential.

  • Consumers view fast delivery as a necessity, people will select something else if your card isn't immediately accessible

  • Consumers are seeking new ways to customize cards and create an experience

  • The demand for the capability to reload a card is increasing.

Additional Insights

  • Sales of gift cards are 41% lower for Father's Day than Mother's Day

  • The average gift card load is 67% lower for Father's Day than Mother's Day

  • Training people at point of sale with a standardized methodology is growing in importance due to the diverse ways a customers can present a legitimate gift card.

  • Bulk packages of load on demand gift cards are a growing trend. JCPenney is trying this strategy in partnership with SVS.

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