Design Better Gift Card Incentives: Tips From Top Performing Companies

Key new stats from the IRF

• 🎯 94% of Top Performing companies include gift cards among their reward types.

• 🏆 Top Performers are more likely to prioritize high perceived value and recipient flexibility when choosing between gift cards or merchandising.

• 📈 Sales incentive payouts for non-cash rewards average nearly $4,000 per year at Top Performance firms—well above peers.

• 🔁 Gift cards represent 43% of non‑cash incentives in North America, and 41% in Europe.

If you're developing a gift card incentive strategy, you’re in good company. The latest study from the  Incentive Research Foundation (IRF) shows that 94% of high-performing companies use gift cards, too.

IRF’s 2025 Top Performer Study surveyed 600 U.S.-based incentive program leaders at companies generating at least $100 million in revenue, spanning a range of industries (including automotive, financial services, and tech).

They identified their 'Top Performers' among them through objective self‑reported business outcomes, like strong year‑over‑year revenue growth, customer acquisition and retention, workforce growth, ability to attract top talent, and having a reputation as an employer of choice.

👉 Download the whole report on their website. 

👉 And keep reading for key takeaways for program managers specifically considering  bulk digital gift cards for employee recognition, customer loyalty, or anything in between.

From the study:

"Top-performing organizations stand out for how deliberately they design reward offerings. 

Instead of defaulting to the easiest or most cost-effective options, they prioritize flexibility, emotional impact, and 
alignment with participant preferences." 

What makes gift cards the go‑to incentive for profitable companies?

The IRF makes clear that the strongest incentive programs don’t blindly treat gift cards as a catch‑all.

Instead, they use them intentionally to deliver perceived value, real choice, and fast recognition across a wide variety of use cases, including sales incentives, channel programs, and employee recognition. 

Here's why gift cards make such great digital incentives. 

🎯 They meet the priorities leaders care about most

When Top Performer managers choose gift cards over merchandise (think: branded mugs and hoodies), they're prioritizing their high perceived value and recipient flexibility.

In other words, these leaders want their recipients to love their rewards and incentives, which aligns perfectly with what digital gift cards truly deliver—choice and autonomy.

📊 They drive reach across people and industries

Top Performers use gift cards in sales,