[Synchro Food Co., Ltd.] Investigating the response and impact of restaurants in issuing new banknotes
*Synchro Food Co., Ltd.*
Press release: August 20, 2024
**
Investigating the response and impact of restaurants in issuing new banknotes *
Synchro Food Co., Ltd. (Headquarters: Shibuya-ku, Tokyo,
Representative Director: Shinichi Fujishiro, TSE Prime Market: 3963 ) conducted a survey targeting restaurant.com members to investigate how restaurants should handle the new banknotes, which will be issued on July 3, 2024, and the impact after the banknotes are issued. . *
*About this survey*
■* Research overview*
Survey target: Restaurant.com members (restaurant managers/operators) Number of answers: 391
Survey period: July 11, 2024 to July 18, 2024
Survey method: Internet survey
■* About the respondents*
Of the respondents who cooperated with this survey, 71.6% operated only one store. Additionally, 49.6% of the respondents were
restaurants located in Tokyo (68.4% were restaurants in the
metropolitan area), and it is assumed that this background influenced the results.
* -About the survey results-*
* Despite the progress towards cashless stores, only 0.3% of stores are completely cashless*
First, we asked them to select all the payment methods they currently use at their stores. The most common option was “cash” at 99.7%. This was followed by “credit card, debit card (83.4%)” and “QR code payment.”
*Suica, PASMO, etc. (75.4%), followed by transportation electronic money (50.1%). In addition, while inbound tourism is increasing, “overseas QR code payment
*We found that 59.6% of restaurants have not introduced “Alipay, WeChat Pay, etc.” and are not considering introducing them in the future.
Next, when asked about the accounting equipment they have in place, the most common answer was a tablet-type cash register such as an iPad (51.9%), followed by a dedicated cash register machine (40.4%) and a handheld order machine (40.4%).
*Employees use specialized equipment (24.3%). “Touch panel
*We found that more than 90% of restaurants have not introduced self-ordering, table ordering, ticket vending machines, and automatic change machines, and are not considering introducing them in the future.
* Approximately 70% of restaurants that are required to support the new banknotes have already done so *
When we asked the stores that answered above that they had introduced “ticket vending machines” and “automatic change machines” about their response to the issuance of new banknotes on July 3, 32.1 of them said they “have not yet responded.” However, it was found that 67.9% had already taken some kind of action, such as updating software or replacing parts. On the other hand, 0% of stores took this opportunity to switch to cashless transactions.
Next, when asked about the total cost of repairing or replacing the equipment, 72.2% of the restaurants that had responded answered “less than 500,000 yen.” 44.4% answered “less than 100,000 yen.”
On the other hand, among the restaurants that have installed ticket vending machines or automatic change machines, about 30% of them answered that they are not yet ready to issue new banknotes.What kind of response will they take in the future? When asked what they planned to do, the most common response (44.4%) was “updating software.” Additionally, 11.1% of respondents said they would switch to cashless transactions.
* I’m still not used to the new banknotes, and sometimes I make a change mistake when paying the bill*
When asked whether customers had made payments using the new banknotes at the time of this survey (July 11, 2024 to July 18, 2024), 54.5% answered “yes.” It can be seen that the new banknotes have been distributed to about half of the restaurants within one to two weeks after they are issued.
Next, when asked in an open-ended format whether they had any specific difficulties, problems, or troubles while dealing with the issuance of new banknotes, 72.4% of restaurants answered, While we received comments such as “Nothing in particular,” we also received the following opinions:
* Concerns about accounting errors*
・Since it is something you are not used to seeing yet, you may be confused when checking during busy checkout hours (Tokyo / Ramen / 2 stores)
・Many employees returned change due to the large number of pin tags (Chiba Prefecture/Yakiniku/3 to 5 stores)
・It is difficult to count new banknotes. Old bills are still available as change, so it takes time to check with customers (Kanagawa Prefecture/Cafe/1 store)
*Unable to determine whether banknotes are counterfeit*
・There have been no problems so far, but I am worried that it will be difficult to tell whether the new bills are counterfeit or not (Tokyo / Japanese restaurant / 1 store)
・I don’t think I would be able to judge if fraudulently made banknotes were used (Okayama Prefecture/Izakaya/Dining Bar/1 store)
・I’m not used to the new banknotes, so I’m worried about their authenticity. Staff from overseas are even more anxious (Tokyo/Asian food/1 store)
* I find it inconvenient to exchange money at a bank counter* ・We always give our customers change in new bills, but when we go to the bank to exchange money, they are often out of stock due to a lack of new bills, which is a big problem. (Tokyo / Japanese restaurant / 1 store)
・Since around June, I have not been able to obtain new bills when exchanging money (because change in banknotes was basically returned in pin bills) (Tokyo / Italian restaurant / 1 store)
・Banks charge a fee for issuing new banknotes (Tokyo/Italian restaurant/1 store)
In addition, stores using ticket vending machines and automatic change machines (including automatic change functions) pointed out problems, mainly in terms of the cost of replacing them with models compatible with new banknotes.
*Increased cost and effort*
・It cost money to update the self-checkout register, replace parts, etc. (Tokyo / Italian restaurant / 1 store)
・It is difficult to bear the cost of changing to a cash register compatible with the new banknotes (Kanagawa Prefecture/Other/31-50 stores)
・I was hoping for a subsidy, but I am disappointed that there was none (Aomori Prefecture/Ramen/1 store)
・It is troublesome to replace units compatible with new banknotes (Tokyo/Asian restaurant/1 store)
・I ordered the parts at the end of January with plenty of time to spare, but the delivery was delayed, and it was finally delivered at the end of June, and it was left cold (Tokyo / Ramen / 1 store)
* 80% of restaurants have introduced cashless payments. The biggest bottleneck is “fee burden”*
We asked about the current situation and future intentions regarding the introduction of cashless payments.
However, currently 84.1% of restaurants have introduced cashless payment, and the largest number of them, 50.9%, have already introduced it, but will not change the types of payment methods. This was followed by 29.4% who said, “I have already introduced it and would like to continue to increase the number of types I handle.”
Also, when asked what they thought would be the biggest bottleneck (and bottleneck) when implementing the system, 71.3% answered “increase in fee costs.” Approximately 10% of stores responded that the timing of sales receipts was slow.
Finally, when asked about the reason for the intention to introduce cashless payments to the stores that answered, “We currently do not have cashless payments and do not plan to do so in the future (9.2%),” the most common answer was: , 63.9% of respondents said they wanted to “reduce the burden of commissions” and “avoid the time lag before sales are received.” Other answers are listed below.
* There is no request from the customer, there is a need to pay in cash * ・Because there are few requests from customers, the commission will lead to an increase in expenses (Tokyo / Izakaya / Dining bar / 1 store)
・There is a need for cash payments among elderly and high-income people (Kanagawa Prefecture/French cuisine/3 to 5 stores)
・As there are no complaints from customers in the current state (Tokyo / Bar / 2 stores)
* Increases operational effort *
・Because the workload will increase (Tokyo / Bar / 1 store)
・Lack of staff (Tokyo / Ramen / 1 store)
Restaurants that do not use ticket vending machines or automatic change machines did not have many problems with the issuance of new banknotes. However, since most restaurants pay in cash, it is necessary to have a certain level of discernment to discern whether the banknotes are genuine or not.
■* Request when citing survey results*
・Please write “Research by Restaurant.com (Synchro Food Co., Ltd.)” in the credit.
・When quoting on the web, please use “restaurant research”
Please provide a link to (https://www.inshokuten.com/research/company/). ■* About Synchro Food Co., Ltd.*
Based on our vision of “spreading the happiness born from diverse dining experiences throughout Japan and around the world,” we operate “Ryokuten.com,” a platform that supports restaurant management and operations. By making full use of technology and simply and speedily providing a variety of options such as “people, goods, information, and services” necessary for opening and operating a restaurant, we will promote the development of the food and beverage industry and the people involved. We will continue to contribute to happiness. [Head Office] 3rd floor, Ebisu South One, 1-7-8 Ebisu Minami, Shibuya-ku, Tokyo [Representative] Shinichi Fujishiro, Representative Director [Listed market] Tokyo Stock Exchange Prime Market
[URL] http://www.synchro-food.co.jp/
[Management site]
▼ Restaurant opening and operation support services
・Restaurant opening and operation support site “Ryokuten.com” (https://www.inshokuten.com/home/)
・Recruitment site specializing in the food and beverage industry “Jobryokuten.com” (https://job.inshokuten.com/)
・SNS short video part-time job recruitment site “Gourmet Baito-chan” (https://gourmet-baito-chan.com/)
▼Services that extend beyond the food and beverage industry
・Store design portal site “Store Design.COM” (https://www.tenpodesign.com/) ・Kitchen car sharing/matching site “Mobimaru” (https://mobimaru.com/) ・Job @Interior Design, a job information site specializing in the interior and construction industries (https://job.tenpodesign.com/) ・Agricultural job information site “Agrijob” (https://agrijob.jp/) ・Matching with tax accountant offices familiar with the food and beverage industry “Ryokuten.com Tax Accountant Search” (
https://www.inshokuten.com/food-accounting/ )
For inquiries regarding this matter, please contact us below. Synchro Food Co., Ltd. Public Relations Imanishi/Oki
Email: public-relations@synchro-food.co.jp