With Covid cases rising across the US, it’s clear that many restaurants will face another round of dining room closures. During the summer months, restaurants found new ways to expand offerings, like outdoor seating and contactless dining;butcolder weather will render outdoor seating impossible across much of the country. Even in warmer climates, on-premises dining may be prohibited as the nation weathers a second wave of infections.
Since the pandemic truly took hold in March, our clients have been trying out new ideas and learning how to transform their businesses to handle the next wave. The restaurant industry has a huge impact on employment in the US. In New York City alone, the introduction of outdoor dining added as many as 83,000 jobs after the initial layoffs in April. The threat of these jobs going away again will have a huge impact on restaurants and employees in the near-term.
Here are 5 things we learned about how to retain business during a slowdown in on-premises dining:
This year’s Paytronix User’s Conference was unconventional, to say the least; but thanks to our incredible clients, the first-ever virtual PXUX was a success!
Thank you for bringing valuable feedback, nuanced insights and dynamic conversation to the event and making PXUX 2020 one for the books.
While we would have loved to have gathered, dined and shook hands with each and every one of our clients (PXUX 2021, perhaps?), we know some of you were not available and others might appreciate a recap of the conference’s events. Here is a high-level overview of some of the year’s biggest takeaways. […]
The Paytronix Convenient Connections Summer Series is a five-part blog that explores successful loyalty campaigns that convenience stores can use to drive user engagement, win back customers, successfully segment customer groups, and ultimately drive incremental revenue. Look for the Summer Series throughout the months of August and September.
A critical business strategy for most convenience stores lies in vendor funding. While the majority of this funding is used for signage and widely available member pricing – two strategies that have proven to be very successful – there are other means of leveraging this funding that can be mutually beneficial.
One such way is through a lapsed category campaign. This type of campaign targets customers who made a specific purchase – of, say, a candy bar – within the last six to 12 months, but not within the last 30 or 60 days. The offers that accompany these campaigns typically need to be high-value, which is why they are perfect to leverage with vendor funds; but when planned strategically, the vendor can also benefit by seeing its products reintroduced to its own lapsed buyers.[…]
When it comes to convenience stores, the trend is very different. C-stores had a much shallower drop at the start of the pandemic, which amounted to about half that of restaurants. They were helped by the fact that in most states, c-stores were put in the “essential” category, meaning that they could stay open even as other retail companies had to close up shop. Still, with traditional commuting patterns disrupted, c-stores took a bit of a hit.