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Cyber Monday is the New Black Friday for Restaurant Gift CardsNEWTON, Mass., Nov. 30, 2022 (GLOBE NEWSWIRE) -- Cyber Monday is the new Black Friday. That’s what emerged when Paytronix, the most advanced digital guest experience platform and a leader in restaurant gift card sales, examined restaurant gift card sales during the first weekend of the 2022 holiday shopping season. Paytronix data suggests, however, that Black Friday continues to be the time that consumers look to put larger values on their cards, with fine-dining cards having the best showing. For the full holiday weekend, overall gift card sales were mixed, with the number of cards sold down nearly 6.8% from 2021, even as the average dollar amount loaded per card rose 8.4%. Overall dollar sales increased 1.1% year over year from 2021 to 2022. Cyber Monday, however, has assumed the mantle as the day of choice to purchase gift cards, with overall card sales up nearly 13.8% and a whopping 17.9% rise in overall dollar sales from 2021. eGift drove much of this gain, with a 31% increase over 2021 for an overall dollar sales increase of nearly 50%. “As far as the restaurant industry is concerned, Cyber Monday is the true start of the holiday shopping season,” said Paytronix Chief Data Officer Lee Barnes. “The pandemic truly completed the industry’s shift from physical to digital gift cards. What we’re seeing now is the industry embracing that change by running deals and promotions aimed at Cyber Monday.” That doesn’t mean Black Friday is entirely done, as the average amount loaded per card that day increased 18.6% year over year. What’s more, the fine-dining segment showed a modest increase, suggesting that conumers look to make higher value purchases early. Other findings include:
This early look at holiday gift card sales supplements the Paytronix Annual Gift Card Sales Report: 2022, which surveys over 200 brands about their annual gift card sales over the course of the year. Methodology About Paytronix Systems, Inc. Media Contact: A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/61619626-ee98-494c-8929-6da4d3540909 |