What is a Voucher?
A voucher is a document that serves as evidence of a financial transaction. It is commonly used in retail and e-commerce to attract customers and increase sales. Vouchers can be in the form of paper or electronic codes that customers can redeem for discounts, freebies, or special promotions.
Types of Vouchers
- Discount vouchers
- Gift vouchers
- Promotional vouchers
- Payment vouchers
Examples of Vouchers
Some popular examples of vouchers include:
- A 20% off discount voucher for a clothing store
- A $50 gift voucher for a restaurant
- A buy one get one free promotional voucher for a movie theater
Case Studies
Research has shown that offering vouchers can significantly boost sales and customer loyalty. For example, a study conducted by Harvard Business Review found that businesses that offered vouchers to first-time customers saw a 35% increase in repeat purchases.
Statistics
According to a report by Statista, the global voucher market is expected to reach $110 billion by 2025. This demonstrates the growing popularity and effectiveness of voucher promotions in the retail industry.
