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Jan 18, 2023
Metro Detroit had the highest takeout percentage on New Year's Day, greater Indianapolis had the best holiday tips, and the Miami metropolitan area had the least generous tippers.
BOSTON, MA – Toast (NYSE: TOST), the all-in-one digital platform built for restaurants, today announced its new Holiday Trends Report, providing visibility into the overall state of the restaurant industry during the end-of-year holiday season (Dec. 1 - Jan. 1) through aggregated sales data from restaurants on the Toast platform, which serves approximately 74,000 locations in the U.S. as of Sept. 30, 2022.
Toast also released its 2023 Restaurant Industry Outlook Report, which offers key learnings from the restaurant industry in 2022 and what operators expect to see in 2023. The report is compiled through Toast’s internal data analysis, secondary research, and a blinded survey conducted from May 13, 2022, to June 28, 2022, with a survey size of nearly 1,000 restaurant decision-makers, primarily SMB operators.
To gain insight into holiday tipping trends by city, Toast looked at the average tip percentage across transactions where a tip was added to the order via a credit card or digital payment from Dec. 17 through Dec. 31 in the 30 largest Metropolitan Statistical Areas in the United States.
Despite inflation and consumer surveys saying otherwise, Toast data shows guests are still tipping generously despite inflation. One observation suggested by Toast data is that some consumers tip more generously during the last two weeks of December.
While Indianapolis-Carmel, IN has the highest average tipping percentage, it also had the largest increase for holiday tipping, adding an extra .5% compared to the average tip percentage (21.0%) for the remainder of 2022.
Some cities, however, were not feeling the holiday spirit.
Methodology: Toast looked at the average tip percentage across transactions where a tip was added to the order via a credit card or digital payment.
States Spreading Holiday Cheer with Big-Hearted Tips
Toast looked at the average tip percentage across transactions where a tip was added to the order via a credit card or digital payment from Dec. 17 through Dec. 31 for each state (and Washington D.C.) in the United States.
Though Delaware had the best average tip percentage for the last two weeks of the year, Maine increased its tipping average more than any other state, dishing out an extra .9% and averaging 20.8 when comparing the last two weeks of December with the average tip percentage (19.9%) for the first 11 months of 2022.
Methodology: Toast analyzed aggregated sales data from restaurant locations on the Toast platform from Dec. 1, 2022, to Jan. 1, 2023.
To gain insight into dining trends on New Year's Day, Toast analyzed dining transactions in the 30 largest Metropolitan Statistical Areas in the United States to determine which cities had more on-premise or off-premise transactions.
Methodology: Toast analyzed all restaurant locations selling Gift Cards on the Toast platform to determine yearly and monthly averages when Gift Cards were sold and redeemed. The Holiday Trends Report, powered by Toast, uncovers key trends across the restaurant industry through aggregated sales data from restaurants on the Toast platform, which has approximately 74,000 locations as of Sept. 30, 2022. The Holiday Trends Report is not indicative of the operational performance of Toast or its reported financial metrics, including GMV growth and same-store GMV growth.
About Toast
Toast [NYSE: TOST] is a cloud-based, all-in-one digital technology platform purpose-built for the entire restaurant community. Toast provides a comprehensive platform of software as a service (SaaS) products and financial technology solutions that give restaurants everything they need to run their business across point of sale, payments, operations, digital ordering and delivery, marketing and loyalty, and team management. We serve as the restaurant operating system, connecting front of house and back of house operations across service models including dine-in, takeout, delivery, catering, and retail. Toast helps restaurants streamline operations, increase revenue, and deliver amazing guest experiences. For more information, visit www.toasttab.com.
Contactmedia@toasttab.com
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