In a time of economic uncertainty and rising
food costs, grocery rewards programs are ranked as the most
valuable type of loyalty program among Canadian consumers
TORONTO, May 9, 2023
/PRNewswire/ - Givex Corp. ("Givex") (TSX: GIVX) (OTCQX:
GIVXF), a customer engagement platform, has today released results
from the annual 2023 Consumer Survey, a national survey that
measures Canadians' sentiments on dining motivations, loyalty
programs, and comfort level with restaurant technology. The survey
polled more than 1,500 Canadians in April
2023.
Canadians appear to be dining out less often this year compared
to last year, both for sit-down restaurants (35%) and takeout and
delivery (35%). That said, despite inflation and a looming
recession, over one-quarter (28%) of Canadians say that so far this
year, they're actually dining out more often than in 2022. In
addition, young Canadians (aged 18-34) are dining out more in 2023
(34%) than their older counterparts (compared to just 26% of those
aged 35-54 and 27% of those 55 and older).
As food prices continue to rise across the country, 57% of
Canadians rank grocery rewards programs as the single-most valuable
type of loyalty program, widely outpacing any other category.
Meanwhile, almost all Canadians (98%) say they have used rewards or
points from a loyalty program to make a purchase at least once.
Three years after the start of the COVID-19 pandemic, nearly
seven-in-ten (69%) Canadians say they feel comfortable using
technology when dining at restaurants (such as the use of a mobile
application to view a menu or order), up slightly from 2022. In
general, the comfort level with technology appears to be increasing
amongst those between the ages of 18 to 54..
"Technology continues to become more integrated into our
day-to-day lives, and these findings show that Canadians are
steadily adapting to its usage in the restaurant space," said
Mo Chaar, Chief Commercial Officer
of Givex. "While a number of external factors likely contributed to
the fact that Canadians are not dining out as often as last year,
the data is clear: promotions, discounts and loyalty programs are
key to customer retention for restaurant operators. As the industry
evolves, it has never been more important to provide merchants with
the data they need to offer an outstanding customer experience. The
Givex platform helps businesses better understand their customers
by connecting powerful transactions and delivering tailored
experiences that keep them coming back."
Key findings from the 2023 Consumer Survey include:
Dining Trends and
Motivations
- Four-in-five Canadians say promotions such as Buy One, Get One
(BOGO) (80%) and coupons or discounts (78%) make them more likely
to dine out at a restaurant. Slightly over half (56%) say the same
about loyalty programs.
- For all potential offers and features presented (coupons and
discounts, promotions, happy hour and loyalty programs), young
Canadians (18-34) are consistently most likely to say they're more
likely to dine out.
- Almost half (46%) of Canadians agree they're more likely to
order takeout/delivery at a restaurant if they offer a loyalty
rewards program.
Loyalty Programs
- Grocery rewards programs are particularly valuable to
lower-income households (60%, compared to 50% of high-income
households).
- 57% of Canadians are a member of between two to four loyalty
programs, and one-in-five is a member of at least five loyalty
programs.
- 20% of Canadians say they use rewards or points from a loyalty
program when making a purchase about once a month.
Restaurant Technology
- In 2023, 74% of Canadians aged 35-54 said they were comfortable
using technology when dining, a 4% increase from the previous
survey in 2022. This increasing comfort level was also reported by
82% of young Canadians (aged 18-34), a 3% increase from last
year.
- However, older Canadians' (aged 55 and up) comfort level with
technology slightly decreased in 2023, down to 56% from 57% in
2022.
Technological innovation has had a significant impact on the
foodservice industry, with the most significant shifts in the
increased use of mobile and online ordering systems. As the
restaurant industry continues to evolve, these survey results
uncover the motivations, insights, and trends amongst guests that
will allow restaurant operators, as well as other business owners,
to make impactful and strategic decisions.
For more information about Givex, please visit givex.com.
About Givex
Givex Corp. (TSX: GIVX; OTCQX: GIVXF) provides merchants with
customer engagement, point of sale and payment solutions, all in a
single platform. We are integrated with 1000+ technology partners,
creating a fully end-to-end solution that delivers powerful
customer insights. Our platform is used by some of the world's
largest brands across the globe, comprising approximately 122,000+
active locations across more than 100 countries. Learn more at
www.givex.com.
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SOURCE Givex