Technology is great, but for most restaurateurs, the question is, “Will it help my business?” Will Hernandez, blogging for Mobile Payments Today, makes a convincing case. The industry is moving cautiously, but Hernandez shares some figures that will get you to step up the pace. It’s time to make sure you and your staff are technology and mobile payment smart. A recent Gartner study found that smartphone sales worldwide reached 1.4 billion units in 2015, up 14.4 percent from 1.2 billion the previous year. A Pew study from 2015 found that some 66 percent of Americans own a smartphone.
At a recent NRA show, Scott Bradley, founder and CEO of mobile marketing company VMob, put a fine point on it. “It’s a challenge because we know customers love smartphones and if we get it right, we can get space on that smartphone.” Space on the smart phone means a fast-lane entry to the millennial market. They want their food right now. Most millennials would “do almost anything” to avoid waiting in line at a drive-thru with kids in the car.
Starbucks led the charge with its forerunner app, which is fully integrated on both smartphones and iPhones. To get that market, Chic-fil-A joined other industry leaders in spearheading digital strategies to get millennials and their fast-food dollar. They created an app on iTunes. KFC and Dominos Pizza round up that pack with their own app as well.
Hernandez isn’t preaching gloom and doom to the industry, but makes a passionate case that restaurateurs’ earning potential and long term success are linked to embracing the digital age. Get a more in depth look at Hernandez’ prescription for mobile payment strategies from Mobile Payments Today. Read more here.