Meta is planning to add gift cards to its in-house Quest Store. It is not clear whether the cards will be introduced in time for the holiday shopping bonanza.

Most leading retailers use gift cards to ramp up sales and rope in new customers. Originally a phenomenon in brick-and-mortar stores, gift cards have long been embraced by online and virtual portals. Gift cards are widely used by Amazon, Microsoft, Nintendo, Google, Sony, Apple, and Zalando among others. Now Meta is set to join the fray with electronic gift cards for its Quest Store.

Meta to add gift cards
An Amazon Gift Card

On top of being a powerful marketing tool, gift cards have evolved into a lucrative retail tool. The coupons not only attract prospective buyers but are also a powerful branding and marketing tool that generates more visibility (eyeballs) for a particular product and brand.

Gift cards do not just attract new buyers. They also boost sales among the more established customers. Studies have shown that the majority of gift card redeeming customers will make purchases worth more than the voucher amount. 76% of customers will buy at least one gift card when doing their holiday shopping. Meta is keen to tap into this lucrative business by creating its own gift cards.

No official statement has been made yet on the Meta Quest Store Gift Cards but it has recently been posted on the company’s website terms of use as well as in the app’s code.

Meta’s terms of use for the gift cards describe all the known functions of typical gift cards that most shoppers would be familiar with. For instance, users would be able to load credits to their Meta account that can subsequently be used in the Meta Quest Store.

They can then pay for paid content for Meta Quest 2 in the store or for the company’s upcoming virtual reality headsets such as the Meta Quest Pro which is launching on October 11. The Meta Quest Store Gift Cards are also not reloadable.

Gift Cards Currently Only Available in the U.S.

The Meta Quest Gift Cards are exclusively available in the U.S. market. It is unclear whether the cards will also be introduced outside the U.S market in the future.

Meta may release additional information about the gift cards after the Connect event on October 11.

https://virtualrealitytimes.com/wp-content/uploads/2022/10/Meta-to-add-gift-cards-600x338.pnghttps://virtualrealitytimes.com/wp-content/uploads/2022/10/Meta-to-add-gift-cards-150x90.pngRob GrantBusinessMeta is planning to add gift cards to its in-house Quest Store. It is not clear whether the cards will be introduced in time for the holiday shopping bonanza. Most leading retailers use gift cards to ramp up sales and rope in new customers. Originally a phenomenon in brick-and-mortar stores,...VR, Oculus Rift, and Metaverse News - Cryptocurrency, Adult, Sex, Porn, XXX