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More and more enterprises are willing to use gift cards for product promotion. In this paper, we assume that the consumer utility function is a nonlinear utility function based on the previous research. We describe consumers' purchasing behavior without a spending constraint from the perspective of consumers' utility and develop a model to derive the optimal purchase amount threshold, gift card value...
According to the test that we made based on the theory of consumer behavior, we found how purchase amount threshold, gift card face value and using restriction affect the effectiveness of the gift cards promotion. Consumers' perception and purchasing wishes tend to be lower with a higher threshold, which influence the transaction value consumers have to pay to obtain the extra compensation. In addition,...
Gift cards are widely used by many enterprises nowadays for products promotion. Gift cards are used not only for a basket of goods, but also for some specific kinds of goods. In this paper, we characterize consumers' purchasing behavior according to descending consumers' reservation price, then develop a model to derive the optimal purchase amount threshold and gift card value. We find that offering...
Offering “free” gift cards with expiry date is very popular among retailers. In this paper, we formulated and solved a model for jointly determining the optimal purchase amount threshold, gift card value and expiry date. The model shows that retailers' profit margin and consumers' valuation for additional purchase are the critical factors in determining the profitability of retailers adopting gift...
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