Sales of restaurant gift cards increased during the first half of the year, particularly at quick-service concepts, according to a report by First Data Corp., an electronic commerce and payment processor.
The Atlanta-based company compared gift-card activations and reloads from Jan. 1 through June 30 for its First Half Gift Card Performance Report, which was released Monday.
At quick-service restaurants, the dollar value of gift cards jumped 14.0 percent and the number of gift cards sold rose 12.4 percent in the first six months of 2010, compared with the same period last year. The average gift card amount at quick-service restaurants increased 1.4 percent to $13.45, First Data found.
Gift card reloads grew significantly at quick-service restaurants, according to the company's study. The dollar value of reloads rose 47 percent at quick-service concepts, compared with an increase of 25 percent across all merchants.
At casual-dining restaurants, the dollar value of the gift cards sold rose 4.7 percent and the number of gift cards sold increased 6.1 percent. However, the average gift card amount slipped 1.2 percent to $28.54.
The dollar value of all gift cards sold in the first half of the year, including at retailers, increased 4.6 percent, while the number of gift cards sold rose 2.7 percent, First Data found. The average gift card at amount at all merchants increased 1.9 percent to $33.73.
First Data said year-over-year monthly gift card sales grew between February and June, peaking in April.
Contact Elissa Elan at [email protected].