The Spread - Volume 3

The Spread -?Volume 3.

Welcome to The Spread! Our bi-weekly newsletter that?aims to spread the freshest?news, tech trends, industry insights, and resources?from the world of hospitality and retail technology, all in one bite-sized bulletin.

Tech Talks

Hear from?operators and tech experts as we explore the innovations that are transforming the industry. Welcome to the Tech on Toast Podcast.

Tasty Tech

Bringing you the latest news and cutting-edge insights from the world of hospitality and retail technology.

HGEM consumer survey finds 1/3 customers not happy with payments in hospitality

Guest experience expert HGEM set out to understand how well the industry is doing on the payment front - are customers generally happy with how payments are taken; is it done at a good pace, or are there still some pain points that irritate consumers and take away from their overall enjoyment of the experience?

305 consumers from a wide variety of ages and backgrounds we surveyed.

The survey results show that 1 in 4 (28%) customers think that hospitality gets it right about half the time when it comes to payment speed, whereas 7% of respondents, quite pessimistically, feel that payments rarely nor never get taken at the right time in hospitality settings. Youngest consumers are most dissatisfied with how long it takes to pay – nearly a fifth (18%) think payments are rarely taken in good time.

When it comes to the question – what the right pace for payments is – 9 out of 10 (88%) expect to pay within 5 minutes, and a quarter of those people want it in 2 minutes. There is a small minority of customers that are more patient: 1 in 10 respondents are happy to wait up to 10 minutes for the bill, and only 1% are happy to wait for up to 15 minutes.

Payment speed can negatively impact the whole experience, in fact, as the survey results show – 93% of consumers say that slow payment affects their whole experience negatively, to various degrees. 70% say it affects them a little; 20% say it affects their enjoyment a lot, and a small percentage (4%) say it ruins the experience for them.

Splitting the bill with more than 3 guests can be quite an awkward experience if all parties calculate their share. Has technology improved on this front or is this still a pain point for customers? 59% say it has gotten better in the last few years, but 41% say it’s still awkward and could be improved upon. Interestingly, youngest customers find it much less of a hassle than older ones. Only 27% of 18-25-year-olds find bill splitting painful, however, customers in the 26-35 age group find it the most awkward, with 46% thinking this; closely followed by 36-45-year-olds with 44%.

Turn your atmosphere into a meaningful driver of your business objectives.

Our marketplace partner Startle have created the world’s first behavioural science book specific to retail and hospitality. Wield the power of behavioural science biases to give your atmosphere an edge with market leading insight, written and produced by Startle.

"GETTING INSIDE YOUR CONSUMERS' HEADS IS DIFFICULT - CHANGING THE ATMOSPHERE IS MUCH EASIER. THIS BOOK HIGHLIGHTS HOW MANY BUSINESSES ARE MISSING OUT BY IGNORING THESE HIGHLY INFLUENTIAL TOOLS WITHIN THEIR GRASP, AND GIVES THEM PRACTICAL ADVICE ON HOW BEST TO USE THEM."

“A site is your staging area. It’s your cornerstone of experience and atmosphere. It’s your show business. It’s your best point of differentiation and brand distinctiveness. Have you ever seen a show without lights, music, costume, comfortable seating, a cloakroom, a bar… they’re not costs, they are as much the product as the show. And without them, the product just won’t stand alone. Throughout this book, I’ll share with you how to run your site more like an extension of your brand and marketing function, a critical tool in achieving your commercial objectives. Because your sites are your showbusiness, and your showbusiness is your product.”

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