How music affects restaurant foot traffic, revenue

Few industries are as competitive as the restaurant business. Many restaurants, especially fast casual restaurants, seek the best ways to increase foot traffic and consumer base to gain that competitive edge and increase revenue. One underrated tool these establishments should use to create a multi-sensory experience, increase brand affinity and therefore gain revenue growth is music. Nearly 80%of people notice the music being played in restaurants and research has proven music has a lasting impact on consumer spending habits.

Music can be a key differentiator for a restaurant's brand identity, inspiring consumers to spend more, stay longer and enjoy the experience. After all, fast casual or not, dining is an experience, and music will elevate that experience and influence customer loyalty.

How music affects foot traffic

Fast casual restaurants are seeing growth in foot traffic, but an increase in competition with more independent locations and franchises opening by the day. Playing music in these spaces has a significant effect on foot traffic, and the type of music played will shape the customer experience.

New made-for-business streaming platforms enable restaurants to subscribe to licensed music with essential tools such as ready-made playlists, scheduling, exposure to new genres and local artists, and explicit lyric filters. They may support a restaurant owner's marketing plan by setting the tone for the ambiance and leveraging music's power to inspire guest consumption. Music creates a memorable atmosphere that helps enhance the customer experience, inspiring a reason to return and share positive reviews.

Consumer spending and retention

A recent study by Broadcast Music Inc. and National Research Group confirms that music positively affects the way consumers interact with local eating and drinking establishments. Playing music that consumers enjoy leads to higher spending habits, resulting in higher revenue for businesses.80% of consumers claimed they would stay longer in an establishment if the restaurant played the right music.

Restaurant owners know that success isn't in the single visit, but instead is based on the repeat customer. Creating experiences that a customer associates with your specific brand embeds loyalty that food alone cannot. Music and the atmosphere become a large part of restaurant-goers repeating their visits that can make or break the experience. Determining the right music for your brand depends on several factors, including location, operating hours, target audience and business objectives. Music can evoke specific emotions, establish a welcoming ambiance and create a connection between customers and the restaurant. In one survey, the majority of guests noted that atmosphere and music were the two important factors that kept them returning to the establishments.

Generating revenue in restaurants

According to a study by Cornell University, about 30% of new restaurants fail in the first year of operation, and 60% fail within the first three years due to low revenue. Restaurant owners fear for the financial viability of their restaurants, including cash flow, profitability and expense management.

Playing music that fits the brand may increase sales by a whopping 9.1%, or more. When restaurant owners take the time to play music in their establishment that fits their brand identity, it creates an immersive, enjoyable experience for customers, allowing additional revenue and cash flow by building brand loyalists.

AI innovations in B2B music streaming

Leading B2B music streaming services ensure that the music being played is properly licensed for commercial settings. The best solutions feature made-for-business controls with the general manager and frontline staff in mind, as they are usually responsible for the music. A vast music catalog helps ensure the broadest selection for guests while ensuring less repetition for staff. Look for commercial music services that use the power of artificial intelligence to provide an all-in-one solution for tailored playlist generation making music curation easier than ever, and debunking any concerns that playlist creation will be time-consuming.

Restaurant owner and operator challenges are vast, but the good news is that professional made-for-business streaming services are here to streamline licensing and provide the range of curation and control that businesses require for growth. Whether you're a small local coffee shop or an iconic brand with 500+ global locations, the power of music is waiting for you.

Source: Fast Casual

•  Share this page