Clipper Magazine Shares Industry Benchmarks for Restaurants
LIVONIA, Mich.--(BUSINESS WIRE)--May 15, 2018--Clipper Magazine, a wholly owned subsidiary of Valassis, a leader in activating consumers through intelligent media delivery, today released restaurant average order value (AOV) benchmarks compiled from its Total Loyalty Solutions (TLS) mobile app-builder.
The data, from hundreds of restaurants, represents over $20 million worth of online transactions. Revealing the AOV for each restaurant category provides restaurant owners valuable insights to help them measure their online ordering standing against industry averages.
According to the National Restaurant Association, 42 percent of consumers say the ability to order online would make them choose one restaurant over another. In addition, the latest food and dining survey from RetailMeNot found that more than half (53 percent) of consumers surveyed have at least one food and dining app on their phone, with 21 percent being restaurant-specific. The industry is reaching a point where restaurants – especially quick-service and fast casual restaurants – that do not cater to consumers’ demands for convenience and value, will have a hard time competing for customers.
The overall AOV for restaurants analyzed from March 17 to April 18, 2018 is $32.73. Below is a sample of specific restaurant categories and their corresponding AOV:
A complete list of AOVs for specific restaurant categories can be found here.
“Comparing performance to other restaurants by category helps owners gauge whether they are doing well or where there’s room for improvement in online ordering,” said Steve Hauber, President, Valassis Local Solutions. “With this information, small businesses can make changes accordingly, whether that’s investing more into online ordering platforms or tweaking the checkout experience to highlight premium items and promote add-ons.”
Online ordering is not only convenient for consumers, it enables restaurants to cost effectively take orders and increase efficiency. Restaurants using online ordering find that their online order values increase. In fact, according to PizzaSales, the average online pizza order is 18 percent higher than orders by phone.
“Online ordering increased our overall sales and significantly improved operations,” said Mike Winslow, General Manager of Boardwalk Billy’s, a barbeque restaurant in North Carolina. “In fact, Total Loyalty’s online ordering has been so convenient for both our customers and employees that Boardwalk Billy’s has transitioned to using online ordering as the only method for placing a takeout order. Total Loyalty’s online ordering software has also improved our search engine rankings so that we acquire new customers by ranking number one in local searches for restaurants.”
Total Loyalty Solutions is an easy-to-use platform that helps merchants stand out as they compete for customers seeking value and convenience. Learn more here.
Valassis helps thousands of local and national brands tap the potential of industry-leading data through intelligent media delivery – understanding, engaging and inspiring millions of consumers to action with smarter cross-channel campaigns. We’ve been a part of consumers’ lives for decades, introducing new ways to deliver offers and messages that activate them — whether via mail, digital, in-store or the newspaper. NCH Marketing Services, Inc. and Clipper Magazine are Valassis subsidiaries, and RetailMeNot Everyday™ is its consumer brand. Its signature Have You Seen Me? ® program delivers hope to missing children and their families . Valassis and RetailMeNot are wholly owned subsidiaries of Harland Clarke Holdings.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180515005911/en/
Mary Broaddus, 734-591-7375
KEYWORD: UNITED STATES NORTH AMERICA MICHIGAN
INDUSTRY KEYWORD: TECHNOLOGY ONLINE RETAIL INTERNET SOFTWARE RESTAURANT/BAR SEARCH ENGINE MARKETING RETAIL COMMUNICATIONS MARKETING
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PUB: 05/15/2018 09:30 AM/DISC: 05/15/2018 09:30 AM