POS Market including Toast POS Terminal & Square POS
Toast POS and Square POS were the most popular POS brands — Press release — This week, RestaurantOwner.com released its 2022 POS Survey Report. The survey asked over 800 independent restaurant owners to rate and comment on their POS systems’ installation and operational costs, system and contract characteristics, and their satisfaction with POS features and support.
A lot has changed since the RestaurantOwner.com POS Survey was last conducted in 2017. Here are some key takeaways from this year’s survey:
- The ten most popular brands account for over three quarters of the market. Toast POS and Square POS were the most popular POS brands, a significant shift from 2017 when Aloha and Micros were the industry leaders.
- POS system upfront costs have fallen more than 30% since 2017, as today’s restaurateurs are spending an average of only $9,289 to get up and running with their systems. On the other hand, monthly fees have increased by 274% to $379 on average over that same period.
- The growth in monthly subscriptions is due in part to flexibility in contract length in exchange for limitations on credit card processing. Almost half of those surveyed said they are locked into using their system’s credit card processor.
- 61% of respondents report that they use one or more handheld devices in their operations compared with only 27% five years ago.
- Many survey takers say that they do not use many of their POS’s features because they are hard to implement or operators lack the time and support to get the necessary training.
- Respondents are disappointed by the support they receive from their providers. In the 2017 survey, 84% of respondents were satisfied with vendor support but in the most recent survey, that proportion dropped to 69%. One restaurateur told us: “The phone support is terrible. You wait on hold for an hour to speak with someone who is learning the system. Super frustrating all around.”
- Challenges like these are driving about 30% of those surveyed to consider switching their POS provider within the next year.
- Additional data from Toast — We recently came out with our Q3 Trends Report and Industry Survey. They provide some valuable data.
- More recent POS Market Leader “opinion” data — https://www.usnews.com/360-reviews/business/point-of-sale/best-retail-pos-systems
The RestaurantOwner.com 2022 POS Survey provides valuable insights for those restaurateurs looking for a new POS system or wanting to make a change. POS providers will find that the survey gives them a wealth of data and straight-from-the-user comments that can help them improve their systems and services as well as attract new customers.
Explore the full survey results at https://RestaurantOwner.com/POS2022.
RestaurantOwner.com is a community of independent restaurant owners. With more than 69,000 members since 1998, RestaurantOwner.com serves a worldwide member base that operates in more than 160 countries. RestaurantOwner.com members represent a wide range of restaurant concepts of all sizes, with over 35% of members operating multiple locations.
RestaurantOwner.com, 20235 N. Cave Creek Rd., Suite 104, Phoenix, AZ 85024.
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