McDonald’s: Are you lovin’ it?
Remember last week when we told you about how a local McDonald’s let it all hang out? We didn’t think it could get worse, but it did. Our same disgruntled friend, sent us another photo from the same McDonalds.
It appears as though their messy closet data center failed them. Our friend was so frustrated with this McDonald’s, he refused to eat there, primarily because he couldn’t pay for it. He has adopted a paperless office and paperless wallet, using a handy iPhone case that holds his credit card. And he is not alone. According to the Federal Reserve Bank of Boston, consumers use debit cards more often than cash, credit cards, or checks individually. By only accepting cash, this McDonald’s greatly hurt its revenue stream.
Additionally, those who pay with cash pay more attention to the cost and spend less than those who pay with cards. Psychologists have studies this and named it the credit card premium. At McDonald’s a person who pays with cash may purchase a McDouble, small fry, and drink for $3.27, but when touting their card, they may splurge for a quarter pounder value meal for $5.98. Take that difference, multiply it against all the customers throughout the day, and add that value to the customers who left purchasing nothing. Clearly, McDonald’s felt the cash effect on their bottom line.
Businesses beware: There are tangible results for poor technology management. The financial impact, combined with the public perception issues, will only hurt your business. Learn from McDonald’s mistakes and safeguard your technology assets.
We want to help rid the marketplace of poor technology practices. Send us your pictures and technology horror stories!