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TheStreet Quotes Brian Solis Exploring the Future of Cashless Commerce

Posted on February 10, 2022 By aathif No Comments on TheStreet Quotes Brian Solis Exploring the Future of Cashless Commerce

via Veronika Bondarenko, TheStreet

With the use of cash dropping around 15% per year since 2017, it is no surprise that we’re starting to see more and more cashless restaurants pop up around us. Between the pandemic and general digitalization, only 16% of Americans were found to “always” have cash on them in 2020.

The move toward credit cards, apps, and phone-based payment methods has become a self-fulfilling prophecy. If people stop using cash, then places will consider stopping accepting cash.

Cash may no longer be king and that’s a concept that one growing fast-food chain has made plans to embrace.

The Texas-based chicken wing chain Wingstop (WING) – Get Wingstop, Inc. Report just launched what it calls its first “restaurant of the future” in Dallas — a lobby without dining seats, a small ordering area and larger back-of-house, and a cash-free environment. The decor is meant to advertise different Wingstop products while also keeping orders moving quickly.

The 1,300-square-foot restaurant was designed as a pilot location meant to test who comes into Wingstop stores and why as, according to the company, delivery and carryout already account for nearly 100% of its orders. While drop-in customers can use the displayed QR codes to order, Wingstop aims to have 100% of the orders at this location done digitally in the future.

“A glimpse into our Lovers Lane location is a glimpse into the future of Wingstop – focused on 100% digital transactions, seamless back of house operations, ongoing flavor innovation, and a business model centered around our fans, who love to dine off-premise with friends, while gaming, or just about anywhere you can think of,” Marisa Carona, Wingstop’s chief growth officer, said in a statement.

“Over the last 12-24 months, technology systems were upgraded to facilitate mobile access, on-demand reservations, orders for delivery and pickup, contactless payments, digital menus, and loyalty programs to serve a ‘contactless’ dining experience,” Brian Solis wrote for Restaurant Dive.

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