As inflation makes prices climb consumers usually limit their spending – but something interesting happened with loyalty guests. As prices rose at both restaurants and convenience stores, loyalty customers kept increasing their spend.
This insight drove Paytronix data analysts to further mine the database in search of details as to how inflation is affecting restaurants and convenience stores. This data brief covers when inflation started affecting restaurants and convenience stores, which restaurant concepts saw the greatest effect, and just how effective loyalty programs were at fighting inflation, even at its worst.
Insights of note:
- Since January of 2020, both restaurants and convenience stores have seen their loyalty member check sizes rise almost perfectly in line with inflation.
- Convenience store in-store loyalty checks have eclipsed inflation, demonstrating the value of an in-store loyalty program for convenience stores.
- Restaurant loyalty check sizes have grown in lockstep with price inflation, indicating that loyalty programs mitigate the effects of rising prices for their members.
Download this data brief and learn how loyalty programs shield clients against inflation.