Current Events > Taco Bell, other food chains could move to digital-only sales: CFO

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Scorsese2002
08/23/23 11:51:30 AM
#1:


https://twitter.com/thehill/status/1694121294394962201?s=46&t=kblUHjD14Xk4ieJPFAQ81A

Good way to lose money

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NoxObscuras
08/23/23 11:55:35 AM
#2:


Scorsese2002 posted...
Good way to lose money
Is it though? Several places have been completely cashless since Covid and they've been fine.

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Questionmarktarius
08/23/23 11:56:25 AM
#3:


actual article url:
https://thehill.com/changing-america/resilience/smart-cities/4163617-taco-bell-other-food-chains-could-move-to-digital-only-sales-cfo/
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Scorsese2002
08/23/23 11:56:35 AM
#4:


NoxObscuras posted...
Is it though? Several places have been completely cashless since Covid and they've been fine.

Still missing out on more money

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Robot2600
08/23/23 11:57:02 AM
#5:


federal law. should be illegal to refuse cash.

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TheGoldenEel
08/23/23 11:58:49 AM
#6:


Super annoying how every brick and mortar store is moving to cashless, and yet all summer food trucks and vendors at like events and farmers markets and shit are cash only

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Robot2600
08/23/23 11:59:15 AM
#7:


it literally says on the money it's good for all debts

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eggcorn
08/23/23 12:01:38 PM
#8:


Robot2600 posted...
federal law. should be illegal to refuse cash.
Yeah it probably should be actually.

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COVxy
08/23/23 12:01:40 PM
#9:


TheGoldenEel posted...
Super annoying how every brick and mortar store is moving to cashless, and yet all summer food trucks and vendors at like events and farmers markets and shit are cash only

I've actually noticed in the MD/DC area most of the mobile vendors, like food trucks and farmers markets, now all take debit/credit. And recently I've been asking which they prefer and it's been exclusively card not cash.

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hockeybub89
08/23/23 12:03:06 PM
#10:


I've possessed maybe $3 in cash in the last 5 years.

Works for me.

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ArchonKnight
08/23/23 12:04:02 PM
#11:


I don't mind this. I almost never carry cash anyway.

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Turbam
08/23/23 12:04:23 PM
#12:


I guess there's less opportunity for theft, but even then it's odd to not accept cash. Nothing is more liquid than cash.

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Sariana21
08/23/23 12:04:43 PM
#13:


My son worked at Taco Bell this summer. He was supposed to direct people to use the kiosk, but he said a lot of them refused. They wanted to order at the register and pay cash.

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Questionmarktarius
08/23/23 12:05:41 PM
#14:


Beancounters have already done the math on what percentage of sales is cash, and have shown that it's statistically irrelevant and/or expected to be so, or this would never even be proposed.
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eggcorn
08/23/23 12:06:36 PM
#15:


ArchonKnight posted...
I don't mind this. I almost never carry cash anyway.
I dont use cash either but a lot of low income people do.

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coolcono
08/23/23 12:07:33 PM
#16:


I only use cash, as I spend too much money online otherwise.

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pedro45
08/23/23 12:14:58 PM
#17:


People spend so much more digitally. I see it all the time.
Cash gives you the feeling of losing something whereas digital doesn't.
They'll be able to track data more easily as well if it is all digital. Every customer will be a user.

ah the future is greedy instead of right.

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Questionmarktarius
08/23/23 12:20:43 PM
#18:


eggcorn posted...
I dont use cash either but a lot of low income people do.
Fastfood has priced itself out of the "low income" market anyway.
The only way that's coming back would be a sudden lobbying campaign to allow fastfood to take EBT. Just wait - it's happened in a few states already.
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DarkChozoGhost
08/23/23 12:23:22 PM
#19:


Questionmarktarius posted...
Beancounters have already done the math on what percentage of sales is cash, and have shown that it's statistically irrelevant and/or expected to be so, or this would never even be proposed.
The top management are complete fucking morons. The "innovations" they decide to implement will objectively improve some statistic, and I'm sure going cashless will do the same. But the statistics they focus on improving have been shown time and time again to be significantly less important than what they sacrifice instead. Every decision made has caused severe damage to the Taco Bell brand, and hurt profits too. Whenever we see some recovery in brand value (or pure revenue) it's a result of undoing some of those decisions. And it's not a Classic Coke situation where in the long run it made up for the initial losses.

Point is, this is going to hurt them. The downsides will oppressively outweigh the benefits, and that's clear to anyone that's not hung up on a soulless perspective of data analysis. Unless "eventually" means by 2050 and no more than 3ish percent of stores will go digital only within the next 5 years. Like at turnpike rest stops or other locations that get next to zero foot traffic. Give it another 10 years for stores in cities and regions where Apple Pay and shit is most popular to join too.

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hockeybub89
08/23/23 12:27:46 PM
#20:


DarkChozoGhost posted...
The top management are complete fucking morons. The "innovations" they decide to implement will objectively improve some statistic, and I'm sure going cashless will do the same. But the statistics they focus on improving have been shown time and time again to be significantly less important than what they sacrifice instead. Every decision made has caused severe damage to the Taco Bell brand, and hurt profits too. Whenever we see some recovery in brand value (or pure revenue) it's a result of undoing some of those decisions. And it's not a Classic Coke situation where in the long run it made up for the initial losses.

Point is, this is going to hurt them. The downsides will oppressively outweigh the benefits, and that's clear to anyone that's not hung up on a soulless perspective of data analysis. Unless "eventually" means by 2050 and no more than 3ish percent of stores will go digital only within the next 5 years. Like at turnpike rest stops or other locations that get next to zero foot traffic. Give it another 10 years for stores in cities and regions where Apple Pay and shit is most popular to join too.
I think they're right for once. Their intentions are likely shitty, but cash is on the way out

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eggcorn
08/23/23 12:32:13 PM
#21:


Questionmarktarius posted...
Fastfood has priced itself out of the "low income" market anyway.
The only way that's coming back would be a sudden lobbying campaign to allow fastfood to take EBT. Just wait - it's happened in a few states already.
Maybe someday. But not yet.

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DarkChozoGhost
08/23/23 12:36:05 PM
#22:


Questionmarktarius posted...
Fastfood has priced itself out of the "low income" market anyway.
Not really. Just because 2 McDoubles are $4.49 now instead of $1.98 doesn't mean it's harder to buy. Outside of trash rural areas, wages are way the fuck up. In the vast, vast majority of the country the demographics that made minimum wage in 2010 are making $15 an hour now. Part time children usually make at least $11. The prices are up, even adjusted, but it's not anywhere close to as significant as you're pretending.

hockeybub89 posted...
I think they're right for once. Their intentions are likely shitty, but cash is on the way out
Even if it is gradually becoming less relevant, cash will not stop being extremely important anytime within the next 20 years. The faster Taco Bell tries to go cashless, the more it will damage them in the short term and long term

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Charismic_Zach_Gowen
08/23/23 12:43:00 PM
#23:


Robot2600 posted...
it literally says on the money it's good for all debts

Which means the cash is authorized as an option for the holder to pay debts with. It doesn't mean anyone is forced to take it. That would be insane for online sales.

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Compsognathus
08/23/23 12:46:22 PM
#24:


I'm not sure I have ever paid cash for Taco Bell.

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SimulationSwarm
08/23/23 12:48:17 PM
#25:


I never carry cash and anytime I do I always forget about it and end up giving it to a homeless person

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WingsOfGood
08/23/23 12:50:51 PM
#26:


Sariana21 posted...
My son worked at Taco Bell this summer. He was supposed to direct people to use the kiosk, but he said a lot of them refused. They wanted to order at the register and pay cash.

Kiosk happens to be slower.

Also you order a drink and wait for it for 20 minutes whereas at the register you get it soon as you pay.

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Questionmarktarius
08/23/23 12:52:23 PM
#27:


Sariana21 posted...
My son worked at Taco Bell this summer. He was supposed to direct people to use the kiosk, but he said a lot of them refused. They wanted to order at the register and pay cash.
Why even have a register, then?
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VeesMcGees
08/23/23 12:52:44 PM
#28:


I hate cash and the pride people have in the currency as a form of payment. To what degree it will affect Taco Bell's revenue, I don't know.
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Plumeofdusk
08/23/23 12:55:17 PM
#29:


good, I hate touching grimy paper money :v
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Starrky
08/23/23 12:58:07 PM
#30:


Robot2600 posted...
it literally says on the money it's good for all debts

Buying Taco Bell isn't a debt lol. Also they're a private business. They can refuse any kind of money they want.
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Dark-Summoner
08/23/23 1:05:11 PM
#31:


My soda company is looking at cashless by 2025.

If we make it to 90% I'll be amazed.
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TripleDouble
08/23/23 1:05:47 PM
#32:


Good

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modena
08/23/23 1:09:57 PM
#33:


Starrky posted...
Buying Taco Bell isn't a debt lol. Also they're a private business. They can refuse any kind of money they want.
It is though, you owe a debt for the food/service you want.

Dumb idea anyways. Are they just trying to weed out the people working under the table or something?

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Unsuprised_Pika
08/23/23 1:17:48 PM
#34:


Fuck off Yum Brands.

This is just going to cost you most your poor customers.

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Prismsblade
08/23/23 1:19:26 PM
#35:


Pretty sus how hard businesses have been moving towards digital over cash of late.

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firedoom666
08/23/23 1:22:49 PM
#36:


Who still even uses cash? Debit cards have existed for quite a while now

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Tom_Joad
08/23/23 1:25:30 PM
#37:


All this means is that Taco Bell doesn't want to make any sales when their local ISP's have a problem.

Or when their card readers glitch.

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kingdrake2
08/23/23 1:51:52 PM
#38:


Questionmarktarius posted...
Fastfood has priced itself out of the "low income" market anyway.


this.

the only reasonable place left is taking advantage of an app deal or wendy's biggie bag.
cant get a meal no more for 6$. one that is filling.

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Lordgold666
08/23/23 2:43:21 PM
#39:


Cant wait for the digital credit scores

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Shamino
08/23/23 2:49:31 PM
#40:


Unsuprised_Pika posted...
Fuck off Yum Brands.

This is just going to cost you most your poor customers.

^This. And I suspect they make up a majority of their clientele.

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Questionmarktarius
08/23/23 2:53:23 PM
#41:


Shamino posted...
^This. And I suspect they make up a majority of their clientele.
I assure you, the drive to get EBT accepted at fast food places (but not for a microwaved burrito, for some reason) will gain asstons of momentum soon.
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Compsognathus
08/23/23 3:01:38 PM
#42:


Please don't take this to me defending corporate decision-making because...eww, but I have to imagine that Taco Bell has exact data on what percentage of their sales are cash. And that percentage they believe is worth risking

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Tenlaar
08/23/23 3:02:17 PM
#43:


I find it very hard to believe that the majority of Taco Bell customers are destitute people who can only pay in cash.
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ChocoboMog123
08/23/23 3:15:24 PM
#44:


The Taco Bell near me already basically ignores you if you go to the counter. It'll take 10+ minutes just to have someone greet you, though they are polite about it.

I worked a month at a Starbucks that was 80% drive-through. Having to get customers at the register just absolutely sucked for productivity. It basically stretches 1 person doing 2 jobs into 1 person doing 4 jobs. Yeah, that's corporate's fault, but it still sucked.

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C_Pain
08/23/23 3:21:09 PM
#45:


Who pays in cash for things that accept card? I always use the card if possible in order to save my cash for the places that don't take it.


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SiO4
08/23/23 3:35:05 PM
#46:


Robot2600 posted...
federal law. should be illegal to refuse cash.

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Tenlaar
08/23/23 3:36:11 PM
#47:


Federal law about cash being legal tender for debts has nothing to do with businesses having to accept cash, please stop repeating that ignorance.
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Priere
08/23/23 3:37:48 PM
#48:


All that customer data and telemetrics is worth more than any paper cash they could rake in.

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GeminiDeus
08/23/23 3:42:00 PM
#49:


I prefer to use cash unless there's no other way to pay for what I want. I keep out about $120 for myself every week as an allowance, so that I can pay for groceries, gas, and a couple other things.

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DarkChozoGhost
08/23/23 5:40:23 PM
#50:


Compsognathus posted...
Please don't take this to me defending corporate decision-making because...eww, but I have to imagine that Taco Bell has exact data on what percentage of their sales are cash. And that percentage they believe is worth risking
They think that, but they're wrong. They've severely underestimating the damage to the brand. Especially with the current lawsuit going on.

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