2020 was a rollercoaster for the restaurant industry, but there are some trends we can look at to get some insights into what will be important in the coming year and how Ziosk can fit those needs.
With COVID-19 as the impetus, there was a large increase in guests relying on technology in their dining experiences and expect the trend to continue.
Payment on the Ziosk Original is at record levels, with an average use rate of 92% for all dine-in transactions, an average increase of nearly 30% since the start of COVID. And over the course of 2020, Ziosk launched other products like Ziosk Pro, Ziosk Mini and Ziosk Virtual to give restaurants the tools they need to bring payment technology into their business and meet consumer expectation.
As of January 1st, 2021, 20 states increased their minimum wage and more states are moving towards a $15 minimum wage. For example, a restaurant with 20 servers currently making $2.13 an hour will cost the restaurant an additional $535,392 annually to make up the difference with that kind of increase. The cost of labor will continue to rise and it is imperative for restaurants to maximize their labor efficiency and utilize technology to fill in the gaps.
Just by enabling pay on demand with any of our Ziosk devices, the steps of service for payment are reduced by 73%, giving staff the opportunity to serve more tables without diminishing the guest experience.
One area that is thriving are QSRs. Many are even exceeding 2019 revenue by maximizing their throughput with line busting and we expect that to continue in 2021. Investing in line-busting strategies is worth the effort. The faster you can move a customer through the line, the more people you can serve.
Restaurants are turning to tablets to help with line busting and overall efficiency. With Ziosk Pro, servers can take orders, manage tables, take coupons and pay checks curbside or tableside, decreasing the amount of labor required while boosting the number of guests served, ultimately increasing profits.
Ultimately, we see an industry ready to rebound in 2021. COVID-19 accelerated existing industry trends like frictionless digital experiences and heightened convenience. Ziosk invested in the development of a suite of new solutions to expand our platform and better serve our customers now and in the future.