Marks & Spencer grows gift card revenue 245%
A British retail giant is substantially boosting gift card sales by utilizing a third-party global business-to-business (B2B) infrastructure.
Marks & Spencer, which operates more than 950 stores across the U.K. and hundreds more in 29 additional countries, is growing its gift card sales and increasing its share of wallet in the space by distributing gift cards across the global digital Runa infrastructure.
Marks & Spencer previously lacked a technology platform to conduct B2B digital gift card sales at scale, and therefore faced challenges in selling and delivering digital gift cards to business buyers.
By integrating the hosted Runa platform with its own internal digital gift card systems, the retailer streamlined the ordering process. This allowed Marks & Spencer to increase B2B sales and gain access to a fresh customer base, rather than relying solely on existing sales channels.
[Read more: Marks & Spencer unifies enterprise omnichannel operations]
“Since signing up with Runa, we have seen continued growth and really impressive results for our gift card sales,” said William Wilford, B2B Customer Success Manager at Marks & Spencer. “We’ve been able to reach new customers and make it easier than ever for them to order from us.”
“Runa empowers businesses and consumers to unlock digital value, and the increasing demand for instant gift card transactions underscores the crucial need for speedy and accessible solutions,” said Aron Alexander, CEO and founder of Runa. “Our partnership with Marks & Spencer, which brought a 245% year-on-year increase in gift card revenue, is a prime example of how innovative technology can enhance the customer experience and ultimately drive sales.”
Runa's platform is built on a foundation in the gift card and stored-value industry, enabling the integration of various digital assets into a single digital value infrastructure. Runa has made it possible for businesses to seamlessly embed gift cards into any software product, for any use case, and enable global customers to purchase gift cards with local currency.