Last week we looked at how restaurants are seeing a renewed recovery, even if the upward trend is smaller than before.
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.
Since the COVID crisis hit back in March we on the data team at Paytronix have been tracking the restaurant recovery. After an initial crash that’s been well documented, we saw a relatively consistent level of growth of about 0.4% per day starting in late March and extending right into June. This was the time that restaurants adjusted to the crisis, shifting their business models away from on-premise and over to takeout and delivery.
Around mid-June, however, something changed and the market simply flatlined for the next 30 days.
The Paytronix team was on site in Chicago earlier this week at the National Restaurant Association (NRA) Show. Similar to last year’s event, the show was chock-full of restaurant brands, vendors, and of course: food. The bustling energy on the floor inspired us during the four-day event as we shared our customer engagement expertise and swapped stories with other attendees. We were especially grateful to have the opportunity to lead a speaking session with one of our clients, Lettuce Entertain You Enterprises (LEYE).
Lee Barnes, Head of Customer Insights at Paytronix, led the session ‘Lessons from Loyalty Program Experts’ alongside Michael Lynch, Director of Loyalty Marketing at LEYE. Barnes is a self-professed data geek who can optimize any loyalty program. Lynch has over 20 years of experience building and managing loyalty programs. With their combined experience, expertise, and wit, this dynamic duo made quite an impression on the 200+ session attendees. In case you missed out, here are the top 5 takeaways from their presentation: […]