As a restaurant owner, it can be overwhelming to decide which technologies are worth your time and investment. In this article, we will guide you through the most popular restaurant technologies on the market and how each can benefit your business. We'll also provide insights into how to balance these technologies to achieve the ideal restaurant technology stack, one that reaches new customers, encourages larger ticket sizes, and drives repeat visits through loyalty.
It comes as no surprise that third-party delivery is here to stay, and only growing stronger by the year. The industry is set to surpass $70 billion in revenue by the end of 2023, led by a few stalwarts that dominate the space. Is it worth partnering with one — or several — of these apps to drive up your ticket sizes?
Our verdict: Third-party delivery apps, whether national or region-specific, can provide a level of convenience for consumers and new reach for restaurants. But transaction fees potentially cannibalize the incremental profits these apps would bring in. At the same time, customers have to spend more to order, meaning their ticket sizes may end up being smaller — less for them, and less profit for you.
Using third-party delivery apps should go hand-in-hand with some kind of platform that introduces additional revenue to offset the loss from delivery costs.
These in-house assets are growing rapidly and becoming more popular with big chains and even single locations, with 57% of restaurants now offering their own programs.
Our verdict: A loyalty program helps retain frequent ones, and drive up their ticket sizes. But you’ll still need a way to bring in new customers and give them a reason to turn to you instead of your competitors.
Promotion platforms with built-in user bases help reach new customers, re-engage lapsed customers, encourage larger ticket sizes, and drive loyalty/repeat visits.
The key consideration is whether the promotion platform returns your investment to ensure you earn profit on each transaction.
Our verdict: With Upside, restaurants can reach new customers, encourage larger ticket sizes, and drive loyalty/repeat visits, making it an essential part of their restaurant technology arsenal.
To achieve the best outcomes for your restaurant, it's crucial to have a well-balanced restaurant technology stack that includes third-party delivery apps, a robust loyalty program, and a promotions platform like Upside that can expand your reach, offer personalized incentives, and drive larger ticket sizes. When these technologies are used in harmony, your restaurant can reach new heights in profitability and customer satisfaction that may have seemed unattainable before.
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