In today’s dynamic business landscape, embracing eco-friendly, socially responsible, and well-governed practices is not just a trend – it is essential for any hospitality brand’s operations. Also known as ESG, these practices have quickly taken center stage, enabling brands to lay the foundation for consistent growth, resilient operations, and long-term success.
What is ESG and Why is it Crucial for Hospitality Brands?
ESG, or Environmental, Social, and Governance, refers to the key factors that stakeholders consider when evaluating a business’s commitment to sustainability and ethical performance.
Recent studies show the significance of ESG strategies, revealing that restaurant brands within the S&P 500 that prioritize and follow these principles outperform those with weak or no strategies at all.
Moreover, another report unveils a shift in consumer behavior towards sustainability. The report found that all generations of consumers, from Baby Boomers to Gen X to Gen Z, are willing to spend more on sustainable products. In 2020, only 34% of Gen X consumers were willing to spend more on sustainable products. Now, more than 90% of those consumers will pay an additional 10% or more for a product that is “sustainable”.
With sustainable and ethical practices now being viewed as key differentiators to consumers and stakeholders, it is more crucial than ever for hospitality brands to adhere to ESG practices.
Technology is Key
At the core of any successful ESG strategy lies the technology you leverage throughout daily operations. As important as it is for your business to be aligned with ESG practices, it is just as crucial to ensure the technology you utilize does as well. Technologies aligned with ESG practices, like point-of-sale systems, are paramount for hospitality brands. These solutions are essential for curbing waste and minimizing carbon emissions all while maintaining efficiency, reliability, and scalability. Leveraging sustainable solutions will not only enable your brand to enhance its ESG performance but also improve profitability and customer satisfaction.
However, hospitality brands still face significant technological challenges when it comes to sourcing hardware that aligns with these principles. There is not a single technology vendor that offers hardware designed for sustainability.
Until now.
A POS Touch Panel Designed to Support Your ESG Goals
Meet the PAR Wave, a multipurpose and eco-friendly all-in-one POS touch panel built to align with your hospitality brand’s ESG goals. The PAR Wave is intentionally designed to be more eco-friendly through its collapsible frame, which reduces packaging (all recyclable and biodegradable) and carbon emissions from shipping by 50%.
With proven durability in the harshest hospitality environments, the PAR Wave is the only POS terminal on the market built to be eco-friendly and easily adaptable to fit your business’s unique needs. Its slim and sleek design retains PAR’s best-of-breed quality while supporting flexible mounting and guest-facing options. This POS terminal serves as a multifunctional touchscreen POS panel suitable for restaurant point-of-sale terminals, guest-facing ordering options, and table games for casinos, providing endless possibilities for hospitality businesses.
Moreover, the PAR Wave can be easily repaired (should you need it) using spare parts, ultimately leading to less overall waste, and reducing the lifetime cost of ownership. By leveraging the PAR Wave, hospitality brands can not only enhance their ESG performance but also demonstrate a commitment to sustainable practices.
In an era where consumers increasingly prioritize ethically and environmentally conscious brands, investing in sustainable technology, like the PAR Wave, is not just a strategic decision, it is a competitive advantage.
Interested in learning more about how the PAR Wave supports your brand’s ESG goals? Visit us at PAR Wave or request a demo today!
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