Adyen provides an overview of how QSRs can benefit in quickly adapting to a no-touch economy.
The pandemic has changed the face of dining out as we know it.
Consumer behaviour has significantly changed over the past few months, with customers adopting e-commerce and using digital channels more than they did previously. But if there is one thing that has remained the same, it is the customers’ demand for a fast, efficient and frictionless service.
According to the 2020 Agility Report, commissioned by Adyen, even the technically-timid late adopters have started to jump on the e-commerce bandwagon. In fact, 33% of consumers say they will shop online more following the pandemic. When broken out by age, 46% of those aged 18-34 will embrace this habit, as will 38% of 35-54 year olds, and 17% of those aged 55 and older.
Apart from the shift to online channels, consumers now value hygiene, health, and safety more than ever before. Australians are amongst the biggest advocates for encouraging social distancing in stores, with 57% concerned about being in close proximity to strangers compared to 47% globally.
QSR brands who wish to thrive amidst the pandemic would do well to keep this in mind, as this heightened concern for safety also applies to eating out, with 55% of Australian consumers saying that proximity was their main concern when visiting bars and restaurants compared to 60% of Americans, 50% of Brits and 39% globally.
One way for QSRs to address this is to implement efficient technologies enabling contactless payments, reducing safety concerns for customers when dining-in or otherwise.
According to the report, contactless payments are now the method of choice for half of all consumers surveyed and most want to see F&B retailers make use of technology to reduce person-to-person contact. It also removes the need for customers to dig around their wallets, thereby reducing friction and increasing conversions.
The report notes that there is a whole new swathe of payment options for restaurants that allow diners to keep their distance. These include pay-at-table and pay-at-bar, in which staff can send the customer’s order straight to their handheld POS device, freeing up the counter area for other orders.
Amidst the rise of digital payments technologies, security remains to be of utmost importance. Adyen notes that managing payment fraud can be tricky. Set your risk settings too low and you will leave your business vulnerable. Set them too high and you may inadvertently block legitimate customers. Finding the perfect balance between security and conversion is key.
Customer journeys are constantly evolving and QSRs have to be quick to adapt in order to remain relevant in the market. However, addressing consumers’ changing behaviours, adopting efficient contactless payments, and making sure all technologies are secure could be too overwhelming for any business, so having the right partner that could with help this process is paramount to success.
Find out how best you can navigate the changing landscape through the right technologies. Download the report now to learn more.
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