Operations
February 19, 2020
Cash is no longer king. Around the world, consumers choose to make more and more card-based payments for goods and services. According to a 2018 survey, 54% of consumers prefer using debit cards; 26% opt for credit cards, and only 14% prefer cash. As consumers, we don’t often think about what our payment preferences mean for retailers. But in order to accept cards, merchants must make several payments, including processor […]
February 11, 2020
Closing the Loop Restaurants already collect certain types of data, for example, check data and order history. But compared to e-commerce companies, restaurants don’t actually collect as much as they could. For example, Amazon knows exactly how many times you visit their website, how much time you spend on each page. Not only does the website remember the items you’ve purchased, but also the items that you’ve looked at and […]
February 6, 2020
In our previous post on personalizing the restaurant experience, we touched on how personalization can benefit both operational and marketing efforts. Today, let’s dive deeper into how personalization benefits restaurant operations. Restaurants will see massive operational advantages from personalization because it promotes both staff efficiency and guest satisfaction. Staff members who provide a tailored experience will make guests happier, boost check sizes and tips, and increase staff morale. As a […]
January 8, 2020
We can learn a thing or two from restaurants abroad. And we’re not just talking about more exotic dishes and limited edition Starbucks drinks. Pay-At-Table solutions have gradually seen more adoption by US restaurants in recent years. But tableside payments have existed in Europe, Canada, and other countries for much longer. Using wireless terminals or mobile POS devices to pay at the table in Europe has been the norm since […]
December 11, 2019
With more than 1 million restaurant locations in the US in 2019, it becomes more important than ever to think about what your restaurant’s unique value proposition among your competition is. But think about value not just in terms of lower prices and higher discounts. Today, guests who dine out want more than a meal, and are looking for a total dining experience that they can enjoy with family and […]
December 9, 2019
In the restaurant industry today, server turnover is not the only problem on the minds of restaurant owners and operators. Another major pain point is the fact that the available labor pool is dwindling due to the low unemployment rate, and at higher costs. Why Is There a Labor Shortage in the Restaurant Industry? The US restaurant industry has relied on a relatively cheap and plentiful labor source because of […]
April 29, 2019
For quite a while now, off-premise sales growth has been getting the majority of the attention for restaurant enterprise management teams. Yet there is a stronger case for investment in FOH innovation vs an exclusive focus on off-premise. There are only a few levers outside food quality / menu that really move the needle for restaurants to drive EBITDA growth: Improve dine-in guest service, which drives up Guest Satisfaction / […]
November 10, 2018
Earlier this month, Amazon dropped a bombshell on the restaurant industry – it was increasing the minimum wage of its 500,000 strong workforce, including all its low-skilled warehouse staff, to $15 per hour. In the tightest labor market in the post-war era with unemployment at 3.7%, this was a hammer blow. Restaurants are already deep in the trenches fighting off competition from Uber, Lyft, Instacart and a multitude of other […]
May 31, 2018
Did you know the number of data breaches increased by over 40% since 2016? Restaurants are key victims for these attacks, so how important is it to have the most up-to-date and secure restaurant technology today?
November 8, 2017
If the restaurant industry wasn’t facing turmoil enough already, another big hit may be coming its way – a reduction in loyalty to restaurant brands. Loyal customers are bread and butter to a brand – not only do they keep a consistent inflow of business, but because of their loyalty, they bring in other strong referrals. However, the tides may be changing as the share of wallet may be directed […]
June 6, 2017
Mobile payment technologies are quickly being adopted by smartphone users. This means that restaurants will need to adapt their way of processing payments in order to retain the ever growing population of tech-savvy customers. An unwillingness to alter decades-old payment practices, such as taking a physical credit card to the BOH for processing on a POS, will increasingly result in lost customers. As evidence of this trend, the National Restaurant […]