“Vouchers are the most profitable item you can sell in your restaurant”
For restaurants, there is a simple way you can earn more revenue without needing to fill dining tables.
That solution? Start selling gift experience vouchers.
The restaurant industry has endured a challenging year. After experiencing growth for nine years, we were all disappointed to see that the number of casual dining restaurants began to fall. This has resulted in several chain operators being forced to close branches. Jamie’s Italian, Carluccio’s, Prezzo, Zizzi and Café Rouge are some of the chains to suffer closures.
With a number of external factors like Brexit the service industry has been hit harder than expected but there are deeper reasons at play.
Increasing financial uncertainty is causing shoppers to have a tighter grip on their purses, people are wanting more than just food from their dining experiences. There are many forms of entertainment to choose from that are all competing with each other, the bigger the choice the smaller the loyalty.
For people today, going out to eat is something to be remembered and enjoyed with loved ones. It is all about the unique experience.
Consumers are choosing experiences above all, and with changing trends the choice of experience is here to stay.
Experience experts have figured out that this is due to 4 main consumer trends:
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Restaurants who are thriving right now are leading the way in providing trendy and enjoyable dining experiences.
Forbes recently published an article highlighting the food trends of 2019, and you're unlikely to forget these funky dining experiences.
Among the list was robot automation restaurants, where food is ordered, created and served through Robots. Another growing dining trend in the US is marijuana-infused meals. Even popular among vegans is the “Motherless Meat”, - the rise of lab-grown food.
These dining experiences are extreme examples, but they illustrate the growing importance of focusing on unique experiences.
Remember how we said EXPERIENCES are what people are searching for?
Well, what better way is there than to package your dining experience and sell it through a gift experience voucher?
Gift experience vouchers are the easiest way to take your restaurant to that next level revenue.
Well firstly, the gift voucher market is booming. For the last five years, the UK gift voucher market has achieved double-digit growth year on year. With that figure now hitting an unbelievably high £5.6bn a year. Eclipsing the UK market, the US Gift Card Market is worth an eye-watering £300 Billion per year!
With the rising trend of voucher spending, combined with the desire for more experiences, gift voucher experiences are the way forward.
Remember we said vouchers can be the most profitable revenue source for your restaurant?
This is where we show you how.
10- 15% of gift vouchers bought expire and therefore never get redeemed. This means you get to pocket all the revenue from all expired vouchers, without paying out for the cost of goods sold.
72.1% of consumers spend more than the value of the voucher. This extra spending adds a whopping 55% on top of the average value of the voucher itself.
60% of consumers say they’ve been introduced to a new brand through a gift voucher and 17.7% have become regular customers as a result.
Here at Enjovia we can help take your experiences to the next level.
We provide a smart and sleek voucher management system, that helps restaurants like yours sell your experiences in the form of gift vouchers and cards.
If that’s not all there are a few more unique qualities that we have over most gift voucher management systems out there.
People like personalisation. Our system is one of the only gift voucher systems that have an ‘add-on’ feature. When a person is buying a voucher they can add on extra items to the voucher. This allows them to personalise their gift. –An important aspect of gift-giving. But also creating more revenue on the voucher. It’s like up-selling without any effort!
Our new system allows you to not only set up your own store yourself, but they even provide the tools for you to customise your store to match your own branding.
Check out the new system features here.
Want to start selling restaurant vouchers?
There is an easy solution to maximise your revenue and start making more money today.
For more information on setting up your gift voucher store, contact us here.