Restaurant Industry Report from Square
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Restaurant Industry Report from Square
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Re: Restaurant Industry Report from Square
#2Light read with some interesting factoids. Despite the stock market hitting all-time highs, consumer confidence is low, as indicated by decreasing tips. The gap between QSRs and sit-down restaurants is also expanding in terms of efficiencies and margins.
Re: Restaurant Industry Report from Square
#3Light read with some interesting factoids. Despite the stock market hitting all-time highs, consumer confidence is low, as indicated by decreasing tips. The gap between QSRs and sit-down restaurants is also expanding in terms of efficiencies and margins.
> Despite the stock market hitting all-time highs, consumer confidence is low
This isn't that surprising. Stock prices are pretty well disconnected from real day-to-day economics that normal people deal with.
Re: Restaurant Industry Report from Square
#4Interesting that square is allowed (and able to) report on this.
So apparently they are processing data like what milk goes in the coffee and can freely(-ish) do what they want with it
Re: Restaurant Industry Report from Square
#5Light read with some interesting factoids. Despite the stock market hitting all-time highs, consumer confidence is low, as indicated by decreasing tips. The gap between QSRs and sit-down restaurants is also expanding in terms of efficiencies and margins.
I suspect decreasing tips also has a lot to do with tip exhaustion, I think it's becoming increasingly acceptable (at least in my circles) to hit the "custom" option and put in a smaller-that-suggested tip (or even nothing at all).
Re: Restaurant Industry Report from Square
#6Light read with some interesting factoids. Despite the stock market hitting all-time highs, consumer confidence is low, as indicated by decreasing tips. The gap between QSRs and sit-down restaurants is also expanding in terms of efficiencies and margins.
I suspect decreasing tips also has a lot to do with tip exhaustion, I think it's becoming increasingly acceptable (at least in my circles) to hit the "custom" option and put in a smaller-that-suggested tip (or even nothing at all).
It's tough to continue to do percentage based tips when the prices have become so high.
Re: Restaurant Industry Report from Square
#7Earlier quoted context omitted.
I suspect decreasing tips also has a lot to do with tip exhaustion, I think it's becoming increasingly acceptable (at least in my circles) to hit the "custom" option and put in a smaller-that-suggested tip (or even nothing at all).
It's tough to continue to do percentage based tips when the prices have become so high.
Or when youre at a self serve kiosk
Re: Restaurant Industry Report from Square
#8Light read with some interesting factoids. Despite the stock market hitting all-time highs, consumer confidence is low, as indicated by decreasing tips. The gap between QSRs and sit-down restaurants is also expanding in terms of efficiencies and margins.
I suspect decreasing tips also has a lot to do with tip exhaustion, I think it's becoming increasingly acceptable (at least in my circles) to hit the "custom" option and put in a smaller-that-suggested tip (or even nothing at all).
Ironically, those stupid tip kiosks have cost severs tip amountage with me
I used to drink a fair bit, so at the end of a tab, I did not want to do arithmetic and would just put an “easy” number that looked good. This could often be upwards of 35%
But if you stick a touch screen in my face with even easier, one-two taps on a preselected amount, I’ll go with that.
Also I’ve accidentally no tipped a few times with them because I get frustrated with the incessant screens asking about receipts, emails, etc. that I just click past the tip screen.
Re: Restaurant Industry Report from Square
#9Does this data get sold to hedge funds or other groups? Companies that process large amounts of purchases must have some of the most accurate data sets on consumer spending that can exist, and should be able to get that data up to date for a time period much faster than any company or gov could compile a survey. Amazon, Shopify, Square, Visa, Mastercard, etc they could all easily calculate inflation easier and more accurately than the gov.
Re: Restaurant Industry Report from Square
#10Light read with some interesting factoids. Despite the stock market hitting all-time highs, consumer confidence is low, as indicated by decreasing tips. The gap between QSRs and sit-down restaurants is also expanding in terms of efficiencies and margins.
I suspect decreasing tips also has a lot to do with tip exhaustion, I think it's becoming increasingly acceptable (at least in my circles) to hit the "custom" option and put in a smaller-that-suggested tip (or even nothing at all).
Maybe this has more to do with the volume of stores now using Square? Many places I will never tip have now been requesting a percentage.