Reward Programs: The Most Redeemed Gift Cards Of 2023

In 2023, the most sought-after gift cards are the ones that provide customers with a distinctive and personalized experience, along with a wide range of options. Our Giftbit clients have successfully embraced this trend by offering recipients the freedom to choose from hundreds of brands at the values they want, accompanied by tailored messaging and a seamless customer journey. 

In this blog post, we’ll explore why recipient choice is so important for successful rewards programs, highlight the top reward gift cards of 2023, along with an infographic displaying the most redeemed denominations from the leading gift card brands.

The unassuming strength of recipient choice in rewards programs

It’s no secret that consumers want more choice when it comes to rewards. In fact, according to a survey by Blackhawk Network, 44% of consumers say they would like to be able to choose their own rewards. Giving recipients the choice to pick their own reward not only makes them feel valued and appreciated, it can also increase redemption rates while building loyalty and trust.

Click here to dive down to the Infographic: Most redeemed gift cards of 2023 and learn the value amounts recipients choose with their favourite brands. 

For companies, it is also very important to consider the broader perspective when selecting a value amount, as reward categories and recipient choice can vary based on the amount, making choice essential. With recipient choice, our clients are able to send a specific dollar amount to their recipients, who then in turn can access a full catalog of rewards and pick their favorite brand. 

By offering the right value to your recipient, you also align to your recipient’s favorite brand, establishing a connection that transcends the mere value of the gift card. Now, you are also providing a personalized experience that speaks to the individual. Recipients want to feel that their preferences and interests matter, and when you do that, it’s a win-win for both your recipient and brand.

Reward programs, most redeemed gift cards of 2023 

Now, let’s take a look at some of the most popular gift card brands and their denominations from the infographic.

Top Gift Card Brands of 2023

Starbucks, Amazon, Walmart, and Visa are among the leaders of the top-redeemed gift card brands this year. And what’s interesting, is that higher denomination values are increasing in popularity vs 2022, with $40, $50, and $100 being some of the most popular gift card values.

In addition, we’ve made note of the increased values associated with the $300 and $500 category gift cards, and a notable change in the brand offering with gas and travel brands entering the category of choice!

As for prepaid Visa cards, it’s no surprise that they are still the most wanted and redeemed, as they’re usable anywhere in the U.S. and at almost any retailer. Thus making their versatility a perfect match for a variety of consumer marketing programs. 

Empower your rewards program with recipient choice 

In conclusion, let recipient choice be the champion of your rewards program. It adds a new level of personalization, connection, and trust-building between the recipient and the brand. By highlighting the top gift card brands and their denominations, such as Starbucks, Amazon, Walmart, and Visa, you’ll not only be giving the gift of a reward but the gift of choice. And with the increased use of prepaid Visa cards as an incentive in rewards programs, it’s clear that this trend is here to stay.

So, why not integrate a gift card platform into your organization’s tech stack?

Giftbit: 2023 Customer Loyalty Software Shortlist by Capterra. Learn why!