NEWTON, Mass., Dec. 16, 2024 (GLOBE NEWSWIRE) — Restaurant gift card sales peaked earlier in the 2024 Thanksgiving weekend with shoppers purchasing 13.2 percent more in dollars per card on Black Friday and 17.7 percent more spent over the weekend while Cyber Monday sales remained flat vs. those same days in 2023, according to data from Paytronix, the most advanced digital guest engagement platform and a leader in restaurant gift card sales. Additionally, 2024 saw renewed confidence in in-person dining experiences with consumers spending $7.8 million buying in-store cards vs. $7.3 million on digital card sales, which reversed last year’s trend.
“With gift card sales surging as much as two weeks before the holiday weekend, it appears that brands front-loaded their gift-card offers earlier in order to take full advantage of shopping traffic both on Black Friday and over the Thanksgiving weekend,” said Lee Barnes, chief data officer and chief of staff at Paytronix. “Paytronix data also indicates a renewed, post-Covid enthusiasm for in-person dining experiences with FSR sales outstripping QSR sales.”
This appetite for in-person dining is amplified by the fact that, overall, $12.3 million was spent on gift cards for full-service restaurants and $5.2 million on cards for quick service restaurants. On average, consumers loaded $66 on FSR cards vs. $31 on QSR cards.
For the entire four-day weekend, shoppers spent 10 percent more while the total number of cards sold surged six percent vs. the same weekend in 2023. In addition, the average dollars loaded on all cards sold was higher ($57) on Black Friday than over the weekend ($49) or on Cyber Monday ($47).
According to data from Paytronix, the total dollar value of cards sold over the 2024 four-day weekend reached $17.5 million vs. $15.8 million in 2023 with the overall volume of cards sold jumping to 338.5 thousand from 316.7 thousand in 2023.
Methodology
Following trends in closed-loop restaurant gift card sales, the Paytronix Thanksgiving Holiday Card Sales Research includes data from gift card sales November 29 – December 2, 2024, including both full-service and quick-service restaurants. The 2024 data includes 366 brands while the 2023 data included 351 brands.
About Paytronix
Paytronix, an Access Group company, is a cloud-based digital guest engagement platform for the hospitality industry. Our innovative, unified platform provides loyalty programs, online ordering, gift cards, branded mobile applications, and strategic insights to more than 1,800 leading restaurant and convenience store brands. Our valued clients leverage the power of Paytronix across 50,000 sites globally to create seamless, personalized, and brand-authentic experiences that foster lasting relationships with their customers. For more than 20 years, Paytronix has been a trusted partner helping brands maximize the lifetime value of their guests and grow more profitable businesses. For more information, visit http://www.paytronix.com
Media Contact:
Calen McGee
Paytronix Systems, Inc.
cmcgee@paytronix.com
646-957-7758
