The Monthly POP: PAR Operator Pulse

Monthly PAR Operator Updates: August 2024

PAR Operator Cloud Insights

Welcome to PAR Technology’s monthly newsletter “The Monthly POP: PAR Operator Pulse”. In this newsletter, we aim to keep owners and operators in the loop about key industry updates and trends as well as the latest developments at PAR Technology, including updates and improvements that can benefit your operations.?

TL;DR

Challenges and Trends: QSR foot traffic increased in Q2 | The QSR segment’s shift towards value-based offerings is proving to work | New York app-based delivery drivers saw an increase in weekly earnings | Consumers are eating more beef

Latest Product Updates: Boost your bottom line with PAR Pay

Customer Success and Articles: Check out our latest blogs to learn about digital wallets and the current state of America’s tipping culture?

Trends Roundup

Foot traffic at fast-food restaurants improved in Q2 2024 but still reflects an overall industry decline. QSRs saw a 2.3% drop in traffic, which is an improvement compared to the 3.5% decline experienced in Q1 2024.

Information from Restaurant Business Online “Fast-Food Traffic Improves But is Still Falling”

The QSR segment’s shift towards value-based offerings is influencing price trends, with limited-service menu prices up 4.3% since last year, compared to a 3.9% increase for full-service meals.?

Information from Nation’s Restaurant News “Menu Inflation at Full-Service Restaurants Outpaced QSRs in June”

App-based delivery workers in New York City recently experienced an increase in base pay, offsetting a decline in tips. These workers saw a 22% increase in total weekly earnings since Q4 2023.

Information from Restaurant Dive “NYC Delivery Worker Earnings up 22%”

Consumers are eating more beef than ever before. Nearly 70% of consumers enjoy beef each week, and 32% often choose beef when dining out.

Information from Restaurant Business “Consumers’ Health Perceptions About Beef are Changing”

PAR Product Updates

PAR Pay

Boost Your Bottom Line with PAR Pay

Experience fewer declined transactions, chargebacks, and fraudulent charges with PAR Pay, the only flexible and restaurant-specific payment platform.

• High Authorization Rate: Enjoy a seamless payment process with a 98.4% authorization rate.
• ?Low Chargeback Rate: Benefit from an exceptionally low chargeback rate of just 0.01%.
• Advanced Fraud Protection: Machine-learning fraud detection and prevention features further enhance security and minimize theft-related losses.

Plus, PAR Pay offers unparalleled support, the freedom to choose your own processor, and innovations like customized tipping options and Punchh Wallet integration. The Advanced Exchange Program on devices adds further value, making PAR Pay a comprehensive solution for minimizing payment-related costs.

PAR has operators covered with Brink POS, PAR Pay, and Data Central Operations Management.? Request your demo today!?

Hot Off the PAR Press

Curious how PAR doubled its SaaS revenue to $400M in just 24 months?

CEO Savneet Singh shares PAR Technology’s incredible journey with GetLatka, revealing our strategic M&A moves and cloud technology innovations. Learn how we navigated industry challenges and turned them into growth opportunities. Catch all the insights in the video from our SaaSOpen session!?

Watch Now!

Partnership Spotlight

FranchiseSEE is an affordable, user-friendly software designed to give restaurant franchise operators a comprehensive overview of their locations' health and their standing within the franchise system. By integrating various metrics from in-store POS, store audits, online reputation sites, and custom metrics, FranchiseSEE generates a unique “SEE” Score for each location. Franchisors can access a high-level view of their entire franchise network, track current royalty reports, score store audits, and more, all through an intuitive and easy to use platform.?

Save the Date: Upcoming Industry Events?

FSTEC 2024

We will be attending FSTEC 2024! Swing by Booth #B-403 and discover how the PAR Platform enables visibility across all touchpoints and systems including the back of house, front of house, and customer channels.?

• Location: Gaylord Texan, Grapevine, Texas
• Date: September 16th – 18th?
• Booth: #B-403
• Click here to book a meeting with us at our booth

Customer Success Stories and Articles

Blog: From Gratitude to Obligation: Navigating America’s Evolving Tipping Culture

In America today, tipping has evolved from a voluntary gesture of appreciation to an almost obligatory part of every transaction. Read our latest blog and learn about the recent rise in tipping prompts, American consumers' perception of them, and why tipping is crucial to restaurants' labor strategies. Read Now!?

Blog: A Digital Revolution: How Digital Wallets are Changing the Payments Game

The future of payments is rapidly evolving, and digital wallets are at the forefront of this transformation. Currently, digital wallets account for 50% of global e-commerce spend and are poised to become the preferred payment method for many. Check out this blog and discover how digital wallets work and how some brands are leveraging them for success. Read Now!