Digitalisation of F&B Industry
In over a decade, technology has touched our lives in the most unexpected ways. It has efficiently improved many areas of our day to day lives and has now reached the f&b industry. While there is no doubt that online food ordering has brought in a dynamic change to the sector, the industry is still a long way from its digital revolution.
Change is the only constant and technology is constantly changing. Acknowledging that we are living in a rapidly growing digital era and that the needs of the technologically advanced people are endless, industries across all channels from pharmaceutical to retail shopping have been spending a fortune of their investments on their digital models. On the contrary a few companies especially restaurant owners deem digital transformation a costly and unnecessary change and are often reluctant to go for it. Hence, putting the industry far behind in the race. What is to note here is that If restaurants continue to wait too long, there might be a real risk of getting left behind by both the competition and customers.
Now it is understandable that acquiring a new restaurant technology can be a tricky business but here’s what one needs to keep in mind - “equip for the future”. Investing in an efficient restaurant technology system can help boost sales and robust growth. How? Let’s dive straight into it:
Enhance Customer Experience
The end motive of every business is to satisfy the needs of its customer. But how does one achieve it’s end result?
Data Management: Customer data management is vital for business. According to empirical data, 70% of all delivery orders are placed online which makes data collection easier. A scrutinised study of data can help you learn about the eating habits, purchase preferences, visiting probability, etc of the consumers and thus, helping to create customised loyalty programs or send personalised promotional offers via emails or SMS.
Menu Management: Digital Menus are one of the most attractive, efficient and engaging ways of food ordering. With menu customisations such as adding dish images, showing dish availability adds to the customer satisfaction. It is not only cost-effective but also avoids human errors and leads to better utilisation of manpower.
Making use of technology can help restaurant owners solidify their presence in the market while simultaneously helping them promote their brands online.
Did you know Starbucks makes nearly 30% of its sales digitally? According to bcg.com “The company has invested significantly in technology over the past eight years, including investments to build its mobile ordering and payment capabilities and to fund digital partnerships and now offers a fully personalized experience across every stage of the customer journey, from consideration to purchase—and even after purchase.”
A global brand like Starbucks is a sheer example of digital success. Not only do they boast a following of millions on their social media but also enjoy an enonmornous traffic on their website and application. According to PYMNTS.com “Starbucks app users drive 17 percent of their sales”.
Where it is indeed soothing to the eye to see the restaurants exploring innovative options such as digital kiosks and digital drive thru, which are some of the most interesting ways for restaurants to boost their sales, a majority still lack either interest or resources to work on their digital model.
With self-digitalisation you can choose to eliminate third party aggregators who charge lion share profits and work to the best of your capability by providing options such as self-delivery or take away option.
A restaurant experiences both reductions and increases in their footfalls and orders per day which often lets them to hire more or less. In addition to the above possibilities that a restaurant can explore when choosing to digitalise, it also becomes easier for them to practice the rightsizing of manpower considering their peak days and off days.
Build Your Own Brand
Every individual has their own identity and every brand must have its own. Digital allows you to create your own presence in the market and connect with the audience. While you can explore the different social media platforms to promote your brand, honest feedback from customers can help you build your brand better. By making the best use of personalised visual storytelling and unique brand themes you can tell your own brand story.
It is important in today’s time to have a futuristic vision. A highly independent brand always roars harder than a highly dependable brand. Remember to be your own sailor, for we are your companion.