9 in 10 businesses saw results in 60 days.Each month, TimePayment accesses POS industry research to help you make the most of today’s opportunities. This month, we examine how leveraging big data from POS drives business opportunities. The big takeaway: 9 in 10 foodservice businesses who used POS data to improve the customer experience saw revenue increases in just two months. By the numbers: A survey of 2288 QSRs, C-stores and independent grocers* found:
- 27% would consider a POS alternative in the next 2 months if they could show how data derived from the system could be monetized into returning or new customers.
- 91% of POS customers leveraging POS data to create enhanced customer experiences – through offers, reviews, and recommendations – reported revenue increases within 60 days.
- The largest concerns limiting investment in this area are not having the staff to drive insights from the data and take the necessary actions to derive maximum value.
- Patrons are 2.4x more likely to recommend restaurants with pay-at-table, according to customer satisfaction ratings.
- 94% of owners who have used pay-at-table used a finance solution to acquire this technology.
- POS big data is a big deal. And it’s now far beyond simplified accounting and pay-at-table. It’s about creating stickier customer experiences that drives revenue.
- Among businesses armed with this technology, 87% used a finance solution like TimePayment to acquire it.