Restaurant Market Report by Square (36 pages) By The Numbers

By | December 11, 2021
restaurant market report

Good to see a point of view from Square. The reports include quite a bit of data. Wakefield did the work for them. They do multiple “Future Of” sectors such as Commerce, Retail and Restaurants. See the Town Square area of Square.   Square is a big cheerleader for QR codes for sure. They make no mention of biometrics or facial we note. They include building community involvement and likely that entails spending time and money on social channels we would guess.  Related of interest:

Future of Restaurants Market Report for 2022 Square

Excerpts:

  • 79% of customers say that they’d prefer to order via online kiosks rather than directly through staff — and not just for fast food. 45% of customers prefer it for casual dining and 21% prefer it for fine dining.
  • Self-serve ordering exploded in popularity during the pandemic as a way to reduce contact between staff and customers. Over the past year both customers and restaurants have experienced its benefits. Customers don’t have to wait for staff to take their orders and payments. Restaurants are
    able to turn tables faster, and recent Square data show that businesses average a 35% increase in sales within the first 30 days after they implement
    self-serve ordering with QR codes.
  • 11% of customers would avoid a restaurant with no digital menus
  • 45% of restaurants say that they plan to offer QR code menus even after COVID subsides.
  • 94% of restaurants surveyed say that they currently offer contactless payment options.
  • 52% of restaurants surveyed say that they plan to offer tableside payment options.

Table of Contents

  • Introduction
  • Ongoing Labor Shortage
  • Automation is not a bad word
  • Omnichannel strategy
  • On-demand delivery
  • self-serve ordering
  • More ways to pay
  • Diverse revenue streams
  • Building community
  • Methodology

More Information