Do you sell GIFT CARDS at your business?
If YES, hopefully it’s with a solution we have provided that is LOW to NO ongoing costs for single site or multi-unit!
If NO, CONTACT US today because the HOLIDAYS are right around the corner and you don’t want to MISS OUT on additional revenue.
Below is a great post by our friends at MICROS that we thought we would share!
Gaga for Gift Cards: Is Your Restaurant Missing Out?
By: Samantha James
Have you looked at your calendar lately? It’s not December quite yet, but the last (and busiest) quarter of the year is upon us. It seems like every year the holiday season creeps up earlier and earlier, and I think I even recall seeing Christmas decorations in a craft store at the beginning of August this year.
This not too subtle prelude to the holidays signals the beginning of shopping season and the mad rush to find the perfect gift for friends and family. But what about gifts for coworkers or neighbors? What about that distant friend whose name appeared on your Secret Santa slip? One easy solution could be a gift card. Pick up a card to his or her favorite froyo shop or burger joint, and the recipient will not only not hate the gift, but might actually use and enjoy it.
And that is great news for the quick service, fast casual, and full service restaurant owner. US gift cards sales totaled $118 billion in 2013, and $19 billion of those sales were in the restaurant industry (according to research by CEB TowerGroup). Gift cards have proven to be very lucrative for the food and beverage industry and the following are just a few reasons why:
1) Gift cards are popular. CEB TowerGroup predicts that gift cards will account for 18% of ALL holiday shopping by 2015. Furthermore, new consumer research done by the Retail Gift Card Association (RCGA) found that 77% of consumers have given a gift card in the past year and 90% have received at least one in the past year. That’s a lot of potential revenue.
2) Gift cards grow revenue. Consumers who purchase gift cards are likely to buy something for themselves at the time of purchase, and in addition, consumers who redeem gift cards are likely to spend more than the gift card amount. Therefore, in addition to the sale of the gift card, businesses have the potential for additional sales surrounding the primary transaction.
3) Gift cards attract new customers. Gift cards get new customers in the door to experience what you have to offer. You have already gained revenue with the sale of the gift card that has been redeemed, but you may also have attained a return customer who will come back to your business, gift card or not.
4) They are mini marketers. These little pieces of hard plastic can feature any image imaginable including logos and taglines, pictures of delicious food and beverage offerings, or even the exterior of your establishment. They are basically teeny billboards advertising your business wherever they go. In addition, satisfied customers have the power to spread the good work on social media, review websites, and by word of mouth. In a nutshell, they have the ability to increase brand awareness.
So as the 2014 holiday season looms near and the popularity of gift cards soars, ask yourself, “Is your business missing out?”