As Inflation Rises, Restaurants Look to Gift Cards to Attract Newly Cost-Conscious Consumers 

Recent economic data forecasts a stormy season ahead for restaurant owners. Inflation in the U.S. is holding around eight percent, which is causing the cost of eating out to rise alongside price increases for everyday items such as gas and groceries. As business owners know well, when inflation rises consumers often cut discretionary spending. For restaurants, this presents a challenge: How can you keep attracting customers to your restaurant when consumer purse strings tighten?

As consumers reevaluate their spending habits, one lever many restaurants are turning to is the gift card. Whether plastic or digital, gift cards can be connected to promotional offers, discounts and incentives. These add-ons give consumers the ability to stretch their spending power when money gets tight.

According to the Q2 2022 Gift Card Gauge from Fiserv, 37 percent of consumers say they have already taken advantage of a gift card promotion in 2022, and 58 percent say that gift card promotions…