Restaurants Without a Gift Card Program are Missing Out on Additional Revenues Making Open-Loop/Closed-Loop Restaurant Gift Card Decisions
5-minute read ---
Selecting a gift card program can be a difficult and confusing process for restaurant owners. Do they select a physical or digital card, do they use an open-loop or closed-loop card program, and what happens when they already have a legacy or new gift card program already in place?
There is no right or wrong answer. It depends on (1) what will bring the most value to the business; (2) the flexibility of the gift card program; (3) the cost of the program; and (4) the ease of managing the program for a single or multi-store restaurant operation. However, the simple decision whether a restaurant should offer gift cards to customers is an emphatic YES! For 15 consecutive years gift cards have topped the list of most requested gift items, which means that they are a convenient option for the buyer and well accepted by recipients. Selling gift cards helps businesses expand brand awareness and reach while increasing revenues. Receiving a restaurant gift card means sharing it with family and friends or treating oneself to a more expensive meal or item that one may not typically purchase.
Gift cards sales increase by 100% in the month of December