The holidays are right around the corner, but it isn’t too late to make the most of your gift card sales. Studies show that there is a large number of people still shopping two weeks before Christmas, including 31 per cent of Gen Z shoppers, 36 per cent of millennials, 42 per cent of Gen X, and 42 per cent of boomers.
Create a strategy that attracts those last-minute shoppers to increase your restaurant’s December gift card sales.
Add value
Today’s shoppers are looking for added value, as the Canadian economy remains uncertain for consumers. Studies show that 71 per cent of people respond to personalized discount codes and 63 per cent act when limited-time sales are ending. One approach to adding value might be to create an offer where guests purchasing a $50 gift card actually receive $60, or to offer corporate guests who book a holiday event several gift cards to distribute to their employees. These approaches could incentivize a higher spend while adding value for your guests, boosting your bottom line, and encouraging new visits to your restaurant.
You may also want to entice your loyalty members with an early or exclusive offer. 79 per cent of consumers plan to use loyalty points and rewards to complete purchases, so appealing to those guests can help strengthen their loyalty and boost gift card sales.
Engage regulars
As a general guideline, it can cost a business anywhere from five to 25 times as much to acquire a new customer, rather than growing an existing one. Your regulars already love your restaurant, so they are an obvious first choice for gift card sales. Use email marketing, onsite promotion, and a personalized approach to get your regulars interested in sharing your restaurant with their friends and families.
Research shows that 62 per cent of people are allocating more of their holiday budgets to support locally-owned businesses, and 54 per cent of those shoppers are willing to spend up to 50 per cent more to buy Canadian. This offers an opportunity for restaurants to engage their regulars (often living in the area) by promoting their local appeal.
Maximizing your gift card sales means spreading the word on your website, in-store, and on your social media channels. In 2024, 34 per cent of consumers planned to shop mostly online, so ensure that your gift cards are available for online purchase. Market and sell your gift cards wherever you can to increase revenues and drive traffic through the end of the year and beyond.
