With technology coming into play, the restaurant industry is drastically different from what it used to be. Source: Shutterstock. <\/p>\n
IN THE age of constant technological disruptions, it is common wisdom that to stay relevant, businesses must be sensitive to trends that have the potential to redefine their industries.<\/p>\n
In the restaurant industry, two such emerging trends are increasingly apparent.<\/p>\n
Firstly, consumers are getting more digital, leading to their increased use of mobile ordering apps. Secondly, automation is making businesses more efficient.<\/p>\n
Most business leaders recognize this. TD Bank recently surveyed 254 owners, operators, and executives of multi-unit restaurant companies (both independent and franchised), and found that most respondents believe increased automation (34 percent) and mobile loyalty apps (31 percent) will strongly impact the industry this year.<\/p>\n
Many have started responding to these changes, investing heavily in automated services such as self-serve kiosks and are also looking into mobile loyalty apps that reward customers when they spend. Smaller local and regional chains are expected to follow suit soon.<\/p>\n
TD Bank Head of the Restaurant Franchise Finance Group Mark Wasilefsky emphasized the significant shift in consumer expectations today.<\/p>\n
If consumers have a brands app on their phone, its much more likely they will visit the store. Its clear that technology from a delivery and mobile ordering standpoint is important, and investing in technologies [] is necessary to compete.<\/p>\n
Mobile apps drive sales primarily through on-demand delivery services.<\/p>\n
The number of restaurants with a delivery strategy is soaring- there was an approximate 10 percent increase from 2018 to 2019-and 52 percent reported that delivery makes up 10 percent of sales.<\/p>\n
The cost of delivery is decreasing as third-party providers become more efficient and larger operators are able to negotiate more favorable deals, thus there is tremendous potential for operators to use delivery to account for a larger percentage of businesses, and will be a big part of a business going forward.<\/p>\n
There isnt a need to look far when it comes to technology-savvy restaurants.<\/p>\n
McDonalds, for example, is already deploying self-service kiosks at full-scale in most of its restaurants.<\/p>\n
They also have an established mobile app that covers a wide geographical network, seamlessly linking customers with the nearest McDonalds restaurant, allowing them to receive their orders in a timely manner.<\/p>\n
Singaporean sushi chain Sakae Sushi now uses mobile\/tablet devices to take orders which it claims helps effectively spread out manpower, channeling resources to more value-added work instead.<\/p>\n
Third-party food delivery providers are also exploding in growth, bringing consumer convenience to a whole new level. All these point towards the great imperative for those in the industry to up their game in technology.<\/p>\n
The role technology plays in just about any industry is paramount.<\/p>\n
Thus, it would be wise for businesses to start integrating it into their daily business operations, or else risk being eliminated from the race to dominate in their respective industries.<\/p>\n
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TD Bank: Automation and mobile apps inevitable for the restaurant industry - Tech Wire Asia<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" With technology coming into play, the restaurant industry is drastically different from what it used to be. Source: Shutterstock. Continue reading