Restaurant technology platform Toast has debuted a digital storefront and marketing tools.
Toast's Digital Storefront Suite provides website and online ordering functionality, and the company's Marketing Suite is a combination of marketing tools and automation technology, according to a Monday (May 1) news release.
“Combined, these suites create a seamless digital hospitality experience for restaurants, integrating across the Toast platform and enabling restaurants to collect guest data from online and point-of-sale (POS) transactions. ” the company said in a statement.
This data helps drive automated, targeted campaigns and customized guest experiences, leading to an “engaging online environment” that attracts guests and leads to repeat visits and repeat orders from the restaurant, Toast said. added.
“Our digital storefront and marketing suite includes Toast’s new AI-powered writing assistant, search engine-optimized websites and online menus, promotional offers, loyalty programs, and automated apps that work together to attract guests. Extend your guest experience online with tools like marketing campaigns and keep them coming back for more,” said Steve Fredette, president and co-founder of Toast, in a release. Ta.
Restaurants could use some help these days to keep customers coming, as the current earnings season suggests customers are becoming more cautious about eating out.
As PYMNTS wrote on Monday, this is illustrated by recent comments from McDonald's CEO Chris Kempczinski.
“Consumers continue to be more selective about how much they spend as they face rising prices in their daily spending,” he said at an earnings conference.
McDonald's financial results show evidence of these pressures, as foot traffic per management was flat or even declining in many markets, and comparable sales were in the low single digits. In 2023, global competition revenue increased by 9% and guest numbers increased by 3%, as seen in the latest annual report.
The Big Mac maker wasn't the only restaurant chain with problems. As noted here, Brinker International CEO Kevin Hockman told analysts, “Our social media team continues to grow the conversation about consumers being dissatisfied with fast food prices. The company is trying to convince customers that it offers more value in casual dining fare, he said.
Brinker, which owns Chili's, reported a noticeable slowdown in sales growth. Same-store sales in the third quarter of the most recent fiscal year increased 3.3% compared to the same period last year. This figure was 10.8% in the year prior to the fiscal third quarter.
And, as reported by PYMNTS, Starbucks CEO Laxman Narasimhan said in an earnings call that Starbucks' second-quarter results were “disappointing” as the coffee chain “fell in frequent patrons.” He said it was the result. Sales were down 1% from last year, and same-store sales were down 4%.
