Local gift cards are driving spend in towns and cities across Ireland, new data shows.
The figures from fintech Miconex, show that sales of its 'Town & City Gift Cards' in Sligo, Ballinrobe, Drogheda, Waterford, Carndonagh and Letterkenny reached over €7 million last year.
The number of places with a local gift card programme backed by Miconex technology topped 200 for the first time in 2023, with sales up 62%.
The data from Miconex shows that 90% of people spend over the value of the gift card on redemption globally, typically 65%.
In Ireland, 33% spend 100% - 125% more than the value of the gift card on redemption.
Over 70% of those who overspend see their gift card as 'free money’, spending more than the gift card value as a result.
