The year of COVID-19 has crushed the restaurant and retailing verticals, resulting in thousands of store closings and the loss of millions of jobs.
But digital ordering, especially mobile-order-and-pay apps whose orders are typically fulfilled via take-out or delivery, and do not rely on inside dining, have shown initial resilience and subsequent growth. U.S. consumers are pivoting to mobile devices from landline PCs for online shopping, and data reveals that mobile order app activity has doubled from 2018 to 2020.
Restaurants and retailers can significantly benefit from this increased consumer adoption of mobile ordering. A new research report, How Mobile Order and Pay Provides a Lifeline for Restaurants and Retailers during Covid-19, sizes up and assesses a major segment of the U.S. mobile- order-and-pay market.
"Mobile-order-and-pay apps have found a sweet spot in the U.S. Quick Service Restaurant (QSR) segment. But other restaurants and retailers can emulate the benefits and success of this buying method that's become increasingly popular with consumers looking for convenience and immediacy. These mobile apps are well aligned with the restrictions and challenges of COVID-19, and can provide retailers across all verticals a sales channel opportunity during the pandemic and beyond," commented Raymond Pucci, Director, Merchant Services Practice.
Highlights of this research report include:
Consumer behavior patterns for mobile shopping
Ways for restaurants and retailers to gain sales during COVID-19
Sizing of the U.S. mobile-order-and-pay market for QSRs
Common features of successful mobile apps
Flywheel effect created by digital ordering
Key Topics Covered:
1. Executive Summary
3. Digital First as a Winning Strategy during COVID-19 and Beyond
Consumer Shopping Habits Pivoting to Mobile
Mobile Order and Pay Shows Market Strength
Mobile Payment Aligns with Pandemic Restrictions
New Payment Technology Attracts More Adoption
Successful Mobile Apps Are More Than Just About Payments
4. Merchants Leverage Digital Channel To Expand Sales
Food for Thought: Expansion of Mobile with Pay-at-Table