Make mine a prepaid Christmas!

Despite being the most generous time of the year Christmas 2011 is seeing more and more people change the way they normally ‘deck the malls’. The financial struggle has even made Santa explore the fastest, hassle free, most valued and cost effective gifts on offer this festive season.

Recent research from American Express (Amex) revealed that an increasing number of people are changing the way they spend this Christmas, with 1 in 4 now participating in a secret Santa system both with work colleagues and with friends. Employers are recognising the importance of their festive generosity and are spending their pennies more wisely, in order to ensure their gifts are used to motivate, incentivise, reward and most importantly be valued by their workforce.

Amex revealed that 68% of people are requesting specific chosen gifts this Christmas and 38% are determined to receive exactly what they requested. The average spend on Christmas presents per person is to reach £364 this year in comparison to the £307 back in 2009. Julie Hay Head of Credit Cards at Amex stated that “People are taking a more savvy approach to buying presents this year”. With this in mind companies alike are starting to invest in schemes which not only reward staff for their hard work at the end of the year but also present them with practical, beneficial support both at work and at home.

Incorporating pre-paid cards as part of any incentive and reward scheme is one way in which employers are able to ensure that their rewards are being valued and used to keep staff motivated and engaged. Business leaders who invest in prepaid products (such as our own Spree-flex card) allow their employees to reap the benefits of a range of savings on their shopping. Pre-paid cards are becoming the no 1 incentive gift on most employees’ wish lists. 

“Prepaid cards are increasingly becoming the preferred choice for a wide range of different industries, particularly as part of a sales incentive”. Promotional Marketing Magazine

From an employee perspective they provide quicker payments, without the need for a bank account, offer excellent added value for the cardholder and can be used across multiple outlets. Prepaid cards have increased in market share due to a higher demand for faster and more convenient payment methods.

2012 will see Business Leaders think more strategically when choosing their staff incentives and rewards. Investing in motivation and recognition schemes whilst still in the midst of a recession means that products such as prepaid cards (which have a proven long term value and return on investment) are now being recognised by companies as ‘the way forward’.

Sophia Tirelli

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