Designed to identify the latest trends in restaurant gift card sales and help restaurant marketing executives compare results to others in the industry, use trends for planning inventory, and gain insight into how channel sales contribute to the growth of gift card sales programs, the Paytronix Gift Card Sales Report analyzed more than 190 restaurant brands and 550 stored value program data. The restaurant service types included in the data set are multiunit quick-service, fast-casual, casual dining, and fine dining. The report provides a comparison of sales by channel, including in-store, third-party retail and corporate sales. All data is sourced from gift card sales processed by Paytronix between January 1, 2016 and December 31, 2017, with redemption data through June 2018.
The report includes two case studies showing a path to increasing gift card sales as well as the following key findings:
- 2017 experienced modest growth from 2016 with a .76% increase in total gift card sales
- In-store sales accounted for 42.8% of all gift card sales in 2017, down from the previous year as third-party retailers continue to gain popularity
- However, during the holiday season, in-store sales attributed 51.5% of all sales, overtaking popularity of third-party retailers from November 1 through December 24
- Around 70% of all gift cards are redeemed within 180 days of purchase
- Quick-service restaurant gift cards are redeemed more quickly than other categories, with a 75% redemption rate after 180 days compared to 52% for fine dining
Download your copy of the Gift Card Annual Report now!