Technology has been the buzz word that never left the business world since it made its grand entrance. Hitting every industry at the heart, technology soon became the cornerstone to success. Although when it comes to the restaurant industry, it hasn’t been smooth sailing so far. Although a majority were confident of their restaurant’s use of mobile technology, according to a survey done by Oracle Food and Beverages, only 48% felt absolutely prepared to fund the future innovations. This study captured the inputs of 279 leaders in the food and beverage industry who used mobile technology during the summer of 2018. Where the findings highlighted that 62% of those that were involved in the research expressed doubts about their capabilities in keeping up with the pace of mobile tech evolution. With over half of them, (summing up to 59%) showing concerns of feeling threatened by the competitors that do keep up.
To stay ahead of the game, and to appeal to the growing requirements of the audience, restaurants have to stay updated with new technology. It all stands on the grounds of customer experience, so just as the in-house service quality the online experience has to be as good to those interacting with the restaurant over a mobile device or kiosk.
All these research tells us one thing, and that is that restaurants are faced with the need to embrace the mobile technology to dive into the greater heights. Competition becomes fierce in this atmosphere, so falling back would ultimately mean losing to the competition while becoming less appealing to the customers that expect the best.
Decreased Costs + Saved Time = Higher Revenue
Mobile technology revolutionised the way restaurants functioned over the past few years before technology. It took away all the extra expenses, cut away the costs and efforts that could be replaced, and gave owner the chance to invest all those savings into developing the future. From decreasing serving staff, stock monitoring and quick updates in the menu, things just got way more structured. Taking away wastages that many venues didn’t realise they had.
It’s not just a speculation, because there’s research to prove that when mobile-tech met restaurants, things just got better. Which is why 84% of food and beverage executives said they that restaurant apps brought down the labour cost significantly. The highest of the benefits, 96% of respondents agree with 40% strongly agreeing that expanded mobile inventory management will be the biggest time and money saver.
There’s not a better time for those foodies to be alive than these days, because the options are just endless. What better than good food, well, easy ordering, fast delivery, seamless payments and a customised experience. These not only keep them happy but sky rocket loyalty. Supporting this 86% believe that branded mobile apps increased the speed of their service and revenue. Those guest facing apps, 93% said that it elevated the customer experience, increased loyal and repeat business.
Those future benefits are looking good with mobile technology
With everything on mobile, one might wonder what more there could be. Restaurants have already automated most elements from table reservations, ordering to payments, but there’s more yet to come. So, what’s coming? 82% said that partnering with apps such as Uber Eats and GrubHub will take business higher in the growth scale. With 95% believing that guest experience and customer loyalty would find ways to improve further.
The road ahead looks bright for the restaurant business, with organisation mentioning that they are prepared to meet the growing and ever-changing requirements of customers. Although with a slight sense of anxiety about the future, 48% of respondents said that they had the capable tools to meet the mobile future demands of the years ahead. So stay updated to bring the best to those, tech hungry customers that crave new experiences.