Marketing
Restaurant gift card sales continue recovery
August 15, 2022
The number of gift cards sold in 2021 increased by 22%, year over year, and sales in the first half of 2022 are just 2% behind the 2021 level.
That's a prime finding of a Paytronix's Mid-Year Gift Card Report 2022 that also revealed fine-dining redemptions rates are higher than ever.
Sales increases coincided with major holidays, such as Valentine's Day, according to a press release on the report's findings.
The current sales trend signals a "strong start to 2022" and indicates consumers are appearing to feel optimistic about going out to dine, according to the release.
Redemption rates, overall, are lower compared with previous years, but that is due, in large part, to slowdowns in QSR redemptions, according to the report. Yet redemptions are up at full-service restaurants, mirroring the increase in purchase numbers.
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