There is no denying that the pandemic is hurting the hospitality industry. Hotel occupancy rates are falling, restaurants have closed down, and thousands of hard-working people are out of work.
However, during these times, it’s important to note that the hospitality industry has recovered from many crises in the past, and there is no reason to believe that this is different. While the period will be tough, there are ways to prepare for a post-shutdown world with an EPOS system.
While there are some things businesses can do during this period, there is also much to do to prepare for a world once we recover.
It’s important to take this time to take stock of the technology at your disposal. While most businesses will have some computerised system, it’s important to take a look at what these systems can do. You need access to real-time data that can help you in the future. For example, an EPOS system can help with inventory forecasting.
Taking stock of technology could bring about new efficiencies and increase revenue, which will help you recover a portion of what was lost. There is no denying that restaurants and hotels are going through a rough patch. However, the right technology can put you in a better position after the shutdown than before.
If you already have an EPOS system, then it’s much easier to build a relevant database. A database consisting of customers’ names, addresses and contact details is useful for both the long-run and short-run. Hotels and restaurants can use the information to reach out to their customers when the time is right. But, this database can be used in the interim, as well.
Hotels and restaurants can use the database to reach out to past customers, while people are still at home. They can share valuable information via email or text message on an array of topics. Many celebrity chefs are keeping in touch with their following with this method.
Keeping in touch with customers can help in the long run because it makes it so much easier to bring them in once the shutdown is no longer in effect.
While it’s hard to predict how people are going to behave once the crisis passes, it’s safe to say that there’s going to be a segment of the population hungry for the kind of experience found at a hotel and restaurant, especially after staying in the house for months. Why not entice these customers with a package that adds value?
Creating a value-driven package is a tricky balancing act. On the other hand, prices must be low enough to entice customers, but the rates should be high enough to maintain acceptable revenue levels. Furthermore, the package in question should be an offer that resonates with customers. How do businesses accomplish this?
An EPOS system can help businesses in hospitality select the ideal package. These systems come with the capacity to collect and analyse data, so you have a much easier time deciphering what is popular with your customer base and not popular.
If it’s within your capacity, you can also do a bit of research on the local market. This way, you will know what’s popular with customers and what’s not. Furthermore, a bit of local market research will give you an idea about how well your local region is recovering.
After all, different regions and industries will recover at different rates once the crisis passes, some will recover overnight, while others will take some time. This insight will help you time your offer to maximise its ROI
There is no denying that the crisis is going to be tough on the hospitality industry. So many fabulous places around the world have been forced to close their doors, some that have been around for years.
There is also no denying that the industry has been badly affected by this epidemic. However, I do believe that history is on our side, and the industry will find a way to persevere. All we need is some creative thinking and the right tech (like an EPOS system) to prevail.