Restaurant technology company BentoBox has released a new report that look at the trends defining the industry this year. Amid ongoing recovery from the COVID-19 pandemic, inflation, and continued staffing shortages, the report breaks down how the industry has evolved over the past year and what’s coming in 2023.
The following are some of the technology-related research findings:
Restaurant technology helped restaurants drive high-margin revenue. In search of clever solutions, restaurants leveraged technology such as email marketing and direct e-commerce to tap into repeat business with low acquisition costs.
- Revenue from loyalty program promotions increased by 74% year-over-year. In total, repeat customers accounted for 35% of online orders, up from 29% in 2021.
- Revenue from digital gift cards increased by 9% in 2022. The average online gift card sold for $120, but diners redeemed just 73% of that amount, with restaurants keeping the difference.
Diners used search engines and websites more than third-party apps. When a diner viewed a new restaurant this past year, there was a 75% chance their journey passed through the restaurant’s website.
- Search Engines and Websites were the top two channels for finding new restaurants, outpacing Social Media and Third-Party Apps.
- 68% of diners age 40 and under were more likely to find new restaurants using the search engines they use daily than diners 41 and over.
- Nearly half of adult diners did not use third-party reservation platforms to discover new restaurants.
Online ordering became part of the new normal. Once a lifeline amid COVID-19, online ordering sustained its momentum in 2022.
- 18% increase in restaurants offering direct online ordering.
- Only 88% of diners tipped on delivery, while 63% opted to leave a tip on pickup orders.
Visit 2022restaurants.com (registration required) to access the full report.