Restaurant Subscription Services
- Restaurant subscriptions have evolved from a way to recover during the pandemic’s early months to a “scalable strategy for optimizing customer lifetime value,” per PYMNTS and Paytronix. Though over half of consumers are only slightly or not interested in participating in a subscription service, 17% are “very” or “extremely” interested.
- A large majority (80%) of consumers who use restaurant subscription services also participate in loyalty programs, and almost 60% said the availability of such a program is “very” or “extremely” important when choosing a restaurant, according to PYMNTS and Paytronix.
- Taco Bell introduced a taco subscription service earlier this year. But consumer interest is divided: 42% said they’d give it a try and 42% said no thanks, per FinanceBuzz.
- When asked which fast-food restaurants they’d be most excited to see offering a subscription service, Starbucks $SBUX and Chick-fil-A tied for first, at 36% of respondents, per FinanceBuzz.
- One mistake restaurants make when creating a subscription program is not making the most of the data, said Jenn McMillen, founder of Incendio, per QSR Magazine. McMillen suggests making the data work for the subscription: “Assess the goal of the subscription (ex: improve retention) and then collect only the data that serves that goal. Use the analytics and algorithms to detect where engagement breaks down and picks up, and engage members using those insights.”