Corus Consulting: Referral model for sales increase of gift certificates

2020: Representation of referral model for sales increase of gift certificates

On April 2, 2020 Corus Consulting Group announced the developed solution on the basis of artificial intelligence which allows retail networks to expand the opportunities for sale of gift certificates in electronic form from non-food of a segment.

In the conditions of isolation and restriction in movements remain social communications between people are strong. Friends and acquaintances continue to congratulate each other on holidays, for example, happy birthday. As a gift in present conditions the electronic gift card is ideal. Recommendatory service from Corus Consulting will help the retailer to expand potential base of buyers of electronic gift cards due to identification of social communications in the customer base.

The mechanism of action of the service developed on the basis of the theory of "six handshakes" is similar to the recommendations of acquaintances on social networks. The algorithm identifies "possible friends" among clients of retail network and we offer them recommendations about purchase of gift cards to different dates (birthdays, holidays), sending offers on any communication channels of the retailer (pop-up a window on the website, e-mail, the Sms, the push-notification in mobile application, consultation on phone).

For implementation of service from retail network data on purchase and use of gift cards with a binding to ID of the buyer in 3-5 years are required. Recommendatory service will issue result of work less in one week.

Similar recommendatory service is especially relevant for such industries of retail as sale of jewelry, cosmetic, children's fashion-goods with the customer base from 100 thousand buyers. Retail networks from these sectors can not only use service as the tool for return of the left buyers and increase in level of deduction of the current clients (retention rate), but also in general to receive up to 2-3% of a gain of total sales without loss of a margin, tells Vera Genova, the head of personalisation of department of analytical solutions of CORUS Consulting Group

Gift cards – not only one of crucial elements of a loyalty system, but also an independent product which is offered for a long time not only by retailers, but also the companies from the service industry (beauty shops, sports clubs, HoReCa, etc.). According to data of consulting agency PayNXT360, the sales volume of the Russian market of gift cards in 2019 exceeded 5 billion dollars and by 2023 will grow to 8 billion dollars. At the same time the increasing volume is gained by sales of electronic maps. According to analysts of Digift, already for the beginning of April, 2020 of 15-20% of gift certificates is implemented in an electronic format.