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As part of Pit Stop's efforts to ensure we are giving clubs and their members exactly what they want, we regularly undergo gift card range reviews. This involves analysing historical activation data across all clubs to identify the gift cards which are performing well and those that don’t seem as popular. We then cross-reference the data with our card partners to understand whether the findings are replicated throughout the retail space. For example, if a particular gift card is performing poorly at the Pit Stop terminal in all clubs, we need to understand whether this is the same in retail or if it is potentially just a gift card that club members do not want.
After identifying lower performing gift cards, we then seek feedback from our venue contacts on what gift cards they believe members don’t value and what gift cards they’d like to see added to the range.
The final step in the process involves requesting feedback from our card partners on any new gift cards that they see as adding value to our range. These may be gift cards that have just been added to their distribution, or those that may be coming in the next few months.
After much analysis and forecasting, Pit Stop has added 11 new brands/retailers into the range for venues.
We have also added in extra denominations for some existing brands to further extend the range.
Our team has been working hard these past few months to ensure all venues have a seamless transition. This involves:
The new federal legislation around gift cards has also been a catalyst for this review. Keep an eye out on our next blog post on the new legislation and how Pit Stop will ensure all venues remain compliant.