Today in restaurant and grocery tech news, DoorDash is adding alcoholic beverages to its marketplace, while Cinnabon launches its first-ever loyalty program. Plus, Fetch Rewards CEO and Founder Wes Schroll speaks with PYMNTS about how the platform aims to keep consumers engaged by consolidating rewards into a one-stop loyalty shop.
Cinnabon Launches Loyalty Program as Mobile Rewards Become Table Stakes for QSRs
Where mobile rewards programs were once the purview of only the most digitally forward-thinking restaurant chains, now it is noteworthy when a restaurant does not offer customers a way to win points for their loyalty. Cinnabon announced on Monday (Sept. 20) that it is launching its first app and rewards program, featuring per-dollar points and special offers.
DoorDash Adds On-Demand Alcohol Service
DoorDash on Monday (Sept. 20) is adding beer, wine and spirits through the DoorDash Marketplace, which reaches more than 100 million people in 20 states, Washington, D.C., Canada and Australia. The alcohol-on-demand offering will be available in select DoorDash markets to customers who are old enough to purchase alcohol from restaurants, grocery stores, local retailers and convenience stores.
Third-Party Food Delivery Marketplaces Offset Losses With Ad Sales
The food delivery business is still not profitable for most major players, even as their marketplaces surge in popularity. Noting the opportunity for a revenue source that does not involve steep labor costs or complicated logistical networks, these delivery services are supplementing their delivery revenue with income from advertising, offering restaurants and grocery retailers the opportunity to boost their products in these highly trafficked marketplaces.
Toast Aims for $18B Valuation in IPO
Boston-based restaurant tech point-of-sale (POS) firm Toast Inc. will push for a valuation of up to $18 billion in its U.S. initial public offering (IPO), according to a Reuters report on Monday (Sept. 20). Toast’s software platform helps restaurants manage online orders, create an on-demand delivery network and integrate payments.
Fetch Rewards Expands Into Restaurant Loyalty, Aiming to Combat App Fatigue
As the mobile loyalty space has grown, so has the number of apps consumers must download to get rewarded for their restaurant purchases. Expanding into restaurant rewards, loyalty platform Fetch Rewards aims to offer frustrated consumers a one-stop loyalty shop while boosting conversion for restaurant brands, the company’s CEO and Founder Wes Schroll told PYMNTS in an interview.