Trend in the hospitality industry clearly points upwards
Step by step, normality is returning - also in the hospitality industry. From June 28, 2021, for example, there will no longer be a restriction on the size of guest groups. But even earlier relaxations have had a positive effect on sales in the hospitality industry, as an evaluation of card payment terminals shows.
Since the end of May, sales in restaurants, cafes, and bars have been steadily increasing. On May 31, 2021 alone, an increase of 38 % was recorded compared to the previous week. This is shown by an evaluation of the fintech company SumUp, which offers card terminals and a wide range of digital add-on services - in contrast to other service providers without fixed costs and without contract obligations. SumUp's solutions are therefore particularly attractive for small and micro businesses, for example in the hospitality industry.
Doubling of transactions in the hospitality industry
In the first 3 weeks after the reopening of the terraces on April 19, 2021, the number of transactions almost doubled: it increased by 93 %. This positive trend has continued after the reopening of the interiors. The average number of transactions per SumUp merchant is also higher than in 2019 - the year before the pandemic. This is a sign that the hospitality industry can look positively to the future and the upcoming summer season. This is because not only did sales figures increase in the first week after the interiors reopened, but the positive trend continued in the following weeks: on Saturday, June 5, 2021, sales increased by 15 % compared to the previous Saturday (May 29, before the interiors reopened). The sales increases can be explained on the one hand by the additional seating areas as well as the additional consumption due to longer stays in the guest establishments.
Small and micro enterprises invest in payment terminals
Businesses, which are often small, have to adapt to the changing payment behavior of customers. Even though cash is still widely used as a means of payment, the use of contactless payment or card payments is increasing. This is reflected in corresponding investments: already one week before the reopening of the terraces on April 19, an increase of 58 % in payment terminals sold was recorded. This positive trend was confirmed before the reopening of the interiors. A week before the reopening, the hospitality industry equipped itself with new payment terminals and the number of payment terminals sold increased again by almost 60 %. The hospitality industry ramped up its infrastructure because the relaxations were associated with positive future prospects.
A positive summer is on the horizon
The sharp rise in sales and increased demand for payment terminals are clear indications that the hospitality industry can expect a pleasing vacation season, with a very strong focus on card payments. "We are sure that it will be a good summer for restaurateurs in Switzerland. We are encouraged that restaurants, cafés, bars and clubs have also recognized this positive trend and are ramping up their infrastructure accordingly," says Vera Pershina, Country Lead DACH at SumUp.
Source: sumup.ch
