Over the past two years, gift cards were an easy (and often essential) way for restaurants to increase sales and revenue. For many of our clients at Card Market, the chaos and uncertainty of pandemic-related shutdowns were quickly seen as an opportunity to turn in-store and digital gift card sales into essential revenue streams.
But did you know that 73% of customers plan on maintaining the same gift card purchasing habits they had during the pandemic?
Earlier this year, we had the opportunity to connect with owners and operators of pizza restaurants across the country at Pizza Expo 2022. Here are a few additional insights we shared to help them accelerate gift card sales and revenue throughout the year.
3 Gift Card Usage Statistics
To maximize your gift card promotional strategy, it’s important to first recognize the potential they can have on your bottom line. Here are a few essential gift card statistics to know:
- 72% of customers will spend more than the amount on their gift cards.
Gift cards are more than a way to generate revenue during slow seasons. They often provide ways for consumers to spend more than originally planned.
- As much as 3% of gift card dollars are never redeemed.
Margins can be incredibly tight in the restaurant industry. By increasing gift card sales, you can create an opportunity for a little financial cushion. Not only do customers spend MORE when they use gift cards, some of the money they spend on gift cards is never used.
Gift cards can be an incredible way to increase traffic to your restaurant during slower months. If there are specific seasons where customers are visiting less frequently, consider running a special gift card promotion as you prepare. This is a great way to generate an influx of customers.
3 Consumer Purchasing Habit Statistics
In addition to understanding the impact gift cards can have on the bottom line, it’s also important for pizza restaurant operators to understand consumer buying habits and provide an offer that resonates with them. Here are a few recent statistics on consumer purchasing habits for pizza restaurants to know:
- 58% say promotions would prompt them to purchase gift cards, despite inflation.
Amid economic uncertainty, consumers are looking for ways to save money. Special promotions for gift cards are an easy way to capture their attention.
- 37% of consumers prefer a bonus amount added to the gift card and 22% prefer a bonus gift card.
What kind of promotions do consumers want? It turns out that the best way to inspire action is to offer an additional amount on the gift card. It could be selling a $25 gift card for $20 or adding a free appetizer with any gift card purchase.
- E-gift sales are the highest they’ve ever been.
Digital card sales in 2021 were the highest they’ve been in years. While there are pros and cons of offering virtual and physical gift cards, it’s important to recognize the shift to e-gifts and the role they play in a complete guest experience.
Increase Gift Card Revenue at Your Pizza Restaurant with Card Market
At Card Market, we’ve helped thousands of restaurants across the country generate more revenue, boost brand awareness, and enhance the customer experience through gift cards. Connect with our team to learn how Card Market can take your gift card sales strategy to the next level.