Company Spotlight

QSRs Cook Up MPOS Innovation

The MPOS revolution is changing the way businesses across many verticals operate. But perhaps no merchant base is better suited to benefit from this shift than the quick service restaurant (QSR) industry.

Described by Food Service Warehouse as restaurants known for “fast, efficient take-out-ready foods at affordable prices,” QSRs represent a booming business in the U.S. and elsewhere. In an industry in which speed is considered a key element, MPOS platforms provide the ability to solve line-busting issues, reduce wait time and improve feedback from an increasingly vocal customer base.

A recent ROAM infographic found that the average QSR customer only has 20 minutes to order and eat, and that this group views speed as the second-most important part of a QSR experience.

Just how well do MPOS and QSR match up? We cook up some savory stats in this PYMNTS.com Data Point.

The QSR Demographic

The same ROAM study found that the average QSR customer is between 25 and 34, and 62 percent of all QSR customers own smartphones. Furthermore, 30 percent check menus from their devices before deciding where to eat or what to order, and 30 percent also indicate a willingness to order food via mobile app.

Loyalty Plays A Part

A recent Harris Interactive study noted that loyalty is a huge part of the QSR business as well. Forty-two percent of respondents indicated they were more likely to go back to a QSR if their past orders were saved. And 66 percent of QRC consumers aged 55 and older said they’d be willing to use a branded store value card if they received additional benefits.

QSR Innovation In Action

This recent piece by Mobile Commerce Daily highlights how Quiznos is using geofencing to target consumers and steal orders away from the competition. According to the piece, Quiznos delivered in-app mobile ads to users who’d visited similar QSR outlets in the past 30 days in markets like Denver and Portland. Those ads enabled users to download an offer for $1 off a sandwich, and came with some staggering results: a 20 percent boost in coupon redemptions and 3.7 million new impressions.

To read more about how MPOS and other payments hot topics are impacting the QSR industry, check out our new QSR briefing room here.

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