The Future of Restaurants and Technology
WHAT WE EAT AND HOW WE EAT IS CONSTANTLY EVOLVING.
In the past, food delivery was limited to Chinese Restaurants and Pizza Shops, primarily because they had their own delivery drivers. Food Delivery is now a 770 billion US dollar market (statista). This is largely because of user-friendly apps and tech-enabled driver networks: Deliveroo, FoodPanda, Just Eat, Skip The Dishes, and Uber Eats. This created speed to market for smaller restaurants that do not have internal technology teams to build websites, online ordering, and delivery systems.
THREE INNOVATION AREAS DASA THINKS ABOUT:
1. Online Ordering and Delivery
Restauranteurs thought the end of covid would bring an end to online food ordering, If anything, it has increased people’s desire to order from anywhere, anytime, with any device. Statista states global online food delivery is $130 billion and growing to $223.7 billion by 2027.
Third-party marketplaces like Deliveroo, FoodPanda, and Uber Eats will always be relevant. Large restaurants, like Domino’s, saw a direct-to-consumer shift occurring several years ago and built their own solution. For smaller restaurants, building this solution is not an option. As more people are starting to prefer ordering direct, restaurants should look at online ordering and delivery options that bring the customer through a great digital journey. EX. Fast Checkout, Web Based, Mobile Apps……
2. Artificial Intelligence
AI can improve the overall customer experience. Implementing virtual waiters to take orders from tables or chatbots to handle questions and reservations which provide personalized recommendations based on customer preferences and dietary restrictions reduces the requirement for manual labor. Predictive analytics will allow for mass amounts of data sources; social media, customer feedback, and online reviews to be analyzed and provide insights to make more informed decisions. Artificial Intelligence in Restaurants deserves its own post, so, I’ll leave it here for now.
THE PANDEMIC HAS ACCELERATED DIGITIZATION FOR RESTAURANTS
When I think about the last couple of years, the only word that comes to mind is WEIRD!
Like other industries, The Hospitality Industry witnessed an overnight change. Packed pubs, restaurants, hotels, and cruise ships (to mention a few), went from raging bellows of laughter and fun to owners frantically reading the Navy Seal Survival Guide.
This sudden change required The Hospitality Industry to pivot. Pivoting for survival and looking to create different and new revenue streams is the new norm. For most, this meant rethinking their business models and considering costs associated with real estate, labor, brands, online ordering, delivery, and consumer behaviors.
Restaurants now realize future existence is highly dependent on understanding how to use technology to reduce labor costs, food costs, and online order and delivery costs. Using technology is not just about operational efficiency. It requires us all to reimagine the future of restaurants.
Self Serve Kiosks
Self- Serve kiosks are beneficial for both customers and businesses. Self-serve kiosks can eliminate miscommunication between customers and staff when placing orders. Kiosks allow the customer to order their desired items directly, reducing the chance of errors in the order-taking process. Self-service means faster service because it does not require a human to manually take the order. This will reduce wait times and reduce labor costs at the same time.
Final thoughts:
Technology offers numerous benefits for restaurants. If the right technology is leveraged, restaurants will stay competitive, increase revenue, and provide the best digital experience for their diners. Technology can be your magic bullet, but, make sure you identify specific goals, understand your needs, research the right technology, start slowly, and make sure all of your staff are trained!
Good luck and please feel free to reach out to elliot@thedasagroup.com if you have any questions!!!!