Cash Strapped Diners are Itching to Spend and Crave Value
To drive consumer demand, restaurant operators are turning to value offers
Given persistent inflation, consumers are looking for deals. The Square survey found that nearly two-thirds (63%) of consumers are cutting restaurant spending and 69% value personalized loyalty programs.
Since consumers have less money to spend, restaurant owners recognize that they must garner customer loyalty and create compelling experiences. In the Square survey, 98% of restaurant leaders said they have created value-added offers. Close to half of restaurant operators expect to keep or add value offers over the next year to drive demand.
Loyalty programs such as Square’s enables restaurant owners to advertise deals such as double points days, free food, or bonuses with purchases of a certain amount.
"We've found that consumer spending is going up and it’s correlated with implementation of Square's loyalty program last year."
- Alex Donley, Owner, Gioia's Deli
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