PAR Punchh® Unveils Comprehensive Report on Restaurant Loyalty Trends
August 05 2024 - 6:30AM
Business Wire
Transforming Challenges into Opportunities: How
Restaurants are Winning with Loyalty Programs
Imagine transforming casual diners into loyal advocates who
consistently choose your restaurant over the competition. With the
right strategies, this is possible. PAR Punchh®, a leader in
customer loyalty and engagement solutions, proudly announces the
release of its first annual "PAR Punchh Loyalty Trends Report."
This essential report provides a sneak peek into how innovative
loyalty programs are reshaping the dining landscape and driving
unprecedented customer engagement.
As the restaurant industry contends with economic pressures and
changing consumer behaviors, this report offers vital insights.
Faced with rising prices and higher expectations, diners are
seeking value and rewards through loyalty programs. This report,
based on Punchh's extensive platform powering over 30% of top 100
restaurant brands, highlights the strategies that are turning these
challenges into golden opportunities.
“PAR Punchh powers 78,000 restaurants monthly, which makes us
the leader in restaurant loyalty marketing,” said Savneet Singh,
CEO of PAR Technology. “With that scale and the vast amount of data
on consumer behavior, it’s important for us to release our insights
and findings on loyalty behavior so our restaurant partners can
better understand and react to changes in the market
landscape.”
The PAR Punchh Loyalty Trends Report presents important insights
into the innovative ways top restaurants are using loyalty programs
to meet market challenges and elevate customer engagement. Key
findings include:
- Breakfast and Menu Innovations: As more people return to
their offices and adapt to new routines, there has been a notable
increase in morning sales. Loyalty programs have been pivotal in
this trend, offering targeted messaging and incentives.
Additionally, casual dining brands have successfully sparked
interest in breakfast through menu innovations, healthier items,
personalized offers, and optimized ordering channels, aligning with
consumer shifts observed with remote work schedules. This aligns
with other findings, which emphasize the impact of changing work
patterns on dining habits and the increased focus on morning
sales.
- Omnichannel and In-Store Ordering Impact: The report
highlights the value of both omnichannel and in-store ordering.
Guests using multiple ordering channels visit more frequently and
purchase at higher volumes, emphasizing the importance of
technology in enhancing customer experience. Additionally, the
resurgence of in-store ordering, accounting for just under 40% of
transactions last year, highlights the need for effective
on-premise POS systems to cater to a significant customer
group.
- Loyalty Sales Growth and Gen Z Engagement: To offset
higher prices, customers are increasingly seeking incentives from
their favorite restaurants, driving a 12% increase in loyalty sales
from 2022 to 2023. This growth far outpaces the 5% overall increase
in consumer spending at restaurants. Successful loyalty programs
have also improved their digital strategies, resonating strongly
with Gen Z, who accounted for 25% of total loyalty sign-ups. This
group’s digital engagement preferences highlight the importance of
digital and mobile solutions in capturing younger consumers'
attention.
In a competitive market, understanding and leveraging these
trends can set your brand apart. Strategic loyalty programs are not
just about retaining customers—they are about creating an emotional
connection that fosters long-term loyalty and profitability.
Discover the Full Report
Gain access to the full range of insights to enhance your
loyalty strategy. Download the PAR Punchh Loyalty Trends Report for
detailed analysis, strategic recommendations, and actionable data
to drive your brand's success.
For more information and to download the full report, visit
partech.com.
About PAR Punchh:
PAR Punchh®, part of PAR Technology Corporation (NYSE: PAR),
provides advanced loyalty and customer engagement solutions for top
restaurant brands. Our AI-powered platform enables personalized
campaigns at scale, driving guest engagement and loyalty sales.
With seamless integration capabilities and compatibility with over
45 different POS systems, we ensure data-driven insights and
tailored promotions. We help restaurants boost revenue, average
check size, and repeat business through personalized offers across
in-store, online, SMS, email, and in-app channels. With over 200
partners and a dedicated team of experts, we develop loyalty
programs that exceed business goals. To learn more, visit
partech.com or connect with us on LinkedIn, X (formerly Twitter),
Facebook, and Instagram.
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version on businesswire.com: https://www.businesswire.com/news/home/20240805469616/en/
Christopher R. Byrnes (315) 743-8376 cbyrnes@partech.com,
www.partech.com
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