2021 Report Delivers Good News To Restaurant Owners
According to the Oracle report, 71% of U.S. consumers stand ready and willing to dine out again. Moreover, nearly half of those surveyed – 42% – will happily dine indoors. Between lockdowns and feeling compassion for restaurant owners, diners also desire to eat out more frequently. In fact, those who plan to eat out monthly rose to 78%, an increase of 19% from the previous year. All of this means good news for the food and beverage industry. For over a year, customers prepared meals at home or ordered delivery and carryout. As a result, the dining experience now feels completely different, especially considering outdoor dining in summer. People want to be (somewhat) social again, go outside, breathe fresh air, and get back to normalcy. That being said, people still exhibit caution and this includes limiting contact as they can, which includes paying in cash. Limiting contact also includes mobile devices to reserve tables, order food, and pay the bill.
Consumers Intentionally Support Local BusinessWhile the survey only polled more than 500 U.S. residents and 1,500 respondents from other countries slightly, the data suggest widespread trends. For instance, consumers support restaurant workers and owners burdened by decreased capacity and forced closures. As a result, loyalty is increasing. Additionally, customers now support local eateries more often and more intentionally.
Interestingly, many respondents acknowledged increased awareness surrounding the razor-thin margins restaurants face. For this reason, consumers prefer to order directly from restaurant websites and apps as opposed to third parties. They also seek out promotions and discounts directly. At the same time, demand for convenience and technology solutions offered by POS systems increased, too. For example, nearly half the respondents prefer to pay the bill via an app instead of waiting for their server. Other respondents prioritized ordering ahead, while still others enjoy order status features.
How the Right POS Improves Your BusinessWhat does all this mean for restaurant owners and managers? Consumer desire to support local diners and eateries leaves restaurants in an interesting position. First, owners must balance inventory, staffing, and operational changes due to ongoing carryout demand coupled with increasing in-person dining. Second, owners must figure out how to capitalize on consumer desire for personalized offers while combating their hesitancy to share personal data. Both factors require a POS system incorporating features that meet these needs.
A good POS system doesn’t just capture remote payments. It also stores customer data, produces accurate reporting, tracks inventory, manages staff scheduling, and incorporates marketing or promotions. Ideally, promotions are personalized to the consumer. Therefore, if your business isn’t prepared to meet new consumer interests and demands with a feature-rich POS, you could get left behind. Call United Banc Card of TN today at (615) 476-0255 to see how we can support your Nashville restaurant, or request a demo to learn more.