Why Restaurants Are Investing in Mobile Payments & Marketing

From restaurant chains like Starbucks, Panera and Wendy’s announcing mobile payment rollouts to smaller restaurant players getting on board with payment apps like Cover, the restaurant world is abuzz with mobile app news. But how widespread is the trend?

A new infographic, produced by mobile payment summit CONNECT 2014 and mobile payment startup Isis, illustrates the huge opportunity for restaurants to use mobile technologies to increase sales. Leveraging data from Google Shopper Marketing Council, Technomic, the National Restaurant Association and other sources, the graphic shares some fascinating statistics.

For example, 83 percent of smartphone users surveyed use their phones to make dining decisions while traveling, and 46 percent have tried a new menu item based on a mobile ad. People are also increasing interested in paying for meals electronically. Of those surveyed, 40 percent say they would like to for quick service meals via a mobile or wireless device, and 55 percent say they want mobile payments.

And restaurants are slowly but surely starting to catch on. Currently, 95 percent of independent restaurants do not have a mobile site and only 16 percent of restaurants have mobile apps. But 50 percent of limited-service restaurants say they plan to invest more resources in customer-facing technologies, like tablets and smartphone apps. Which is smart since, according to the infographic, mobile payment users spend twice as much through digital channels.

Looks like it’s time for restaurants small and large to start exploring the expanding mobile app ecosystem.

*Abridged from an article by Nina Meijers, foodtechconnect.com 

 

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