Marketing
Restaurant gift cards sales dip while dollar figure jumps
November 30, 2022
Overall restaurant gift card sales were down nearly 6.8% for the Thanksgiving holiday weekend compared to 2021, but the average dollar amount loaded per card jumped 8.4%.
That's a prime finding of a Paytronix data report that declared Cyber Monday as the new Black Friday for restaurant gift cards.
Cyber Monday is now the day of choice to purchase gift cards, according to a press release on the data findings, with overall card sales up nearly 13.8% and a whopping 17.9% rise in overall dollar sales from 2021.
"As far as the restaurant industry is concerned, Cyber Monday is the true start of the holiday shopping season," Paytronix Chief Data Officer Lee Barnes said in the release. "The pandemic truly completed the industry's shift from physical to digital gift cards. What we're seeing now is the industry embracing that change by running deals and promotions aimed at Cyber Monday."
Additional findings include:
- The number of eGift cards sold during the first holiday sales weekend of 2022 doubled since 2019, demonstrating that the major shift happened during the pandemic.
- Fine dining and family restaurants showed the biggest sales increases, while quick service and fast-casual brands showed declines.
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