The season for gift-giving has arrived, and as the possibility of a recession looms, gift cards could be just what your restaurant needs to help your bottom line through the holidays.
Gift cards encourage repeat visits from your customers and help you to acquire new customers. With 80 per cent of consumers planning to purchase gift cards in 2022, it’s clear that this is a revenue stream with the potential to help your business.
Gift cards make excellent stocking stuffers, offer the gift of experience, and allow recipients to enjoy the gift into the new year. Make the most of the season with a strategy for selling gift cards that’ll get maximum results for your restaurant.
Simplify the process
With all the hustle and bustle, people are looking for quick and easy ways to buy gifts. The harder you make the process, the less chance you have of making sales.
So, make them available wherever you can: at your cash desk, from your website, and include them as part of any gift baskets you have for sale. Offer them as actual cards with an online print option so people can purchase whichever way is easiest for them.
How do you know what gift card denomination makes the most sense? You could offer set amounts (for example, $50 increments) or customize each one individually. For the sake of ease, a set amount offers a quick purchase, and it’s simple for you to manage your inventory.
In 2021, 54 per cent of consumers still preferred a tangible gift card over an online purchase, so it’s best to have options that will suit everyone.
Get the word out
People can’t support you if they don’t even know have gift cards available, so make sure you’re promoting them during peak season. Mention them on your menus, have your servers talk them up, and advertise on social media to get attention.
You could try out a promotion, like a free dessert for anyone purchasing a $100 gift card to encourage higher price points. Or you might consider tying a charitable component to gift card sales to help your community at the same time.
Gift card sales can really have an impact on your restaurant’s profits, so get creative in upping those sales for success this holiday season.