In a trend happening nationwide, we continue to see a recovery among our restaurant clients. Looking at the week-on-week data we can see that the run of positive weekly results has continued, with each day an average of ~5% to 10% higher than the week before. Mother’s Day, however, showed two interesting trends. First, it was a massive uptick from the previous Sunday, but check sizes were also higher than visits, indicating that people visited more expensive restaurants, or at least were ordering food for more people at once.
There is always a bump for Mother’s Day, but the difference this year from the previous trend shows tremendous pent-up demand from the market. Clearly people wanted to spoil mom.
Still, when we look at the fixed-period chart that compares sales to a pre-COVID baseline, we can see that visits and spend are still down, but up from the bottom. We’re a long way from a full recovery, but the trendlines are headed in the right direction.
As everyone focuses on the new realities of takeout and delivery, it’s important that brands have the tools they need to identify and target those loyal guests who are most likely to purchase through the new ordering channels.
That’s why we rolled out two new filters that enable marketers to find just those who either missed recent visits or have an online ordering history. It’s a way to identify the right people and help drive much-needed revenue.
View the 30-minute Paytronix webinar Machine Learning and Dynamic Segmentation
Missed Visit Score
Behind the Paytronix platform lies artificial intelligence that offers visibility into customers’ individual actions. This means we can understand an individual’s visit cadence. For a coffee shop or C-store patron, that rate might be once a day. For a pizza store, it might be once a week. And for a fine dining restaurant, it might be once every two months. The new Paytronix missed visit score informs you whenever that rate changes so that you can adjust your outreach accordingly.
Industry performance and leading indicators of an improved outlook are top of mind as we enter week 8 of the COVID-19 crisis.
On the restaurant side, sales and visits bottomed out in late March and were down between 60 and 70 percent when compared to pre-COVID trends. Today things have improved so that sales are now “only” down 50 percent as compared with pre-COVID, up from a low of 60-70 percent.
In the chart below, you can see the following:
- Beginning around March 12, 2020, restaurant sales declined rapidly, and by March 18 week-on week sales were down more than 50%.
- The decline continued until late March, by which time sales were down ~60-70% from pre-COVID levels.
- Sales stabilized from late March until around April 7, 2020.
- Since April 7, 2020, we have seen sales start to recover. Every day (except two of them) has seen higher sales than the previous week. The large spike was caused by Easter Sunday.
- ‘Overall, restaurant sales are up 10% from the time sales bottomed out in March and are now at approximately 50% of pre-COVID levels.
Every year, Paytronix honors the clients that are doing amazing things on the PXS platform with the Loyaltees Awards. It honors the brands using Paytronix to drive truly innovative marketing and loyalty programs.
Last year Caribou Coffee earned recognition for a program that brought together Paytronix software and services to build promotional strategies that used historical data to refine and improve results. Bruster’s Ice Cream, meanwhile, earned kudos for a program that converted traditional punch cards into a modern loyalty program that not only reached 16% penetration in six months, but also drove an increase in traffic during its traditional shoulder seasons of September and January. Also on the list was Break Time for implementing a monthly rewards challenge that boosted customer spend by more than 25% at its convenience stores.