SpringBig Holdings Inc (OTCQX:SBIG), a provider of SaaS-based marketing solutions, consumer mobile app experiences and omnichannel loyalty programs to the cannabis industry, has launched "Gift Cards by Springbig." This addition to their platform offers enhanced payment solutions for cannabis retailers, aiming to facilitate more secure and user-friendly transactions.
Innovation In Cannabis Retail Driven By Consumer Trends
The introduction of both physical and digital gift cards addresses the growing consumer inclination towards such payment methods. According to SpringBig's announcement, a significant 76% of consumers purchased gift cards last year, with 40% opting for digital formats. Importantly, 61% of users tend to spend more than the card's value, indicating potential revenue boosts for merchants.
Jeffrey Harris, CEO of Springbig, emphasizes the shift in consumer behavior towards convenience, especially via smartphones. "Gift Cards by Springbig simplifies payments, akin to the Starbucks app, ensuring seamless digital interactions between retailers and consumers," Harris states.
Boosting Cannabis Retail Sales
The introduction of "Gift Cards by Springbig" could become a convenient addition to cannabis dispensaries, offering a modern, cashless payment option that aligns with current consumer trends and potentially increases overall sales and customer engagement.
Springbig, which recently announced Q3 earnings, is recognized for its innovative customer loyalty and marketing solutions in the U.S. and Canada.
Photo by Damian Barczak on Unsplash
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