The restaurant and food service business is a highly competitive space where we see new businesses with newer business models popping up every day and the customers are simply spoilt for choices. Thanks to the faster lives with little time, higher disposable incomes, increasing smartphone and internet usage and newer eating habits promoted by globalization! The customer behaviors are so starkly different from what they were 3-4 years back with many preferring to get food delivered to where they are, rather than dining at the restaurant.
With the pandemic outbreak of Coronavirus in more than 150 countries and territories, it is now not only a public health crisis but an economic one as well. Due to enforced social distancing, stay at home, lockdown, and curfews, how can a restaurant survive? Thus, it becomes very important for every restaurant to have a survival strategy when the world economy is hit hard.
While the nation is battling the sudden lockdown with the intent of practicing and ensuring social distancing, the concerns over gathering essential items and groceries have continued. But now we can ease our worries a bit.
Mobile apps are fast overtaking websites as a means for raising greater revenues and profits in aggressively competitive spaces such as restaurants and food service. Mobile apps are being adopted by a fast-growing number of customers, especially in food ordering/ delivery space, because
It is a known fact that 3rd party food ordering apps like Zomato, Swiggy & Uber Eats have become the first choice of people looking to order food online. And while these 3rd party apps are a good platform for gaining exposure to new groups of audiences, but they also have 2 major disadvantages. One, extremely high commissions and the second one poor customer retention.
We live in a world that is so fast-paced and most of the time we are so caught up that we prefer doing everything, even completing our daily chores online. Thankfully, with a dramatic growth of internet usage and e-commerce in the last few years, mobile apps are available for each and every industry including food, clothes, shoes, baby products, beauty, skincare, cosmetics, medicines, and even grocery items. Yes, online grocery delivery is not an exceptional one.
With the rising competition and ever-growing technology, the food industry has always been under multiple technological innovations. Cloud Kitchen is one such concept that has sneaked in the food industry recently and has taken the global restaurant industry by storm. Reports suggest that the Cloud kitchen concept is marching ahead at the highest CAGR (Compound Annual Growth Rate) among the other segment in the restaurant industry and is considered as the smarter way to run the restaurant business.
In today's digital day and age, to achieve the attention of the targeted market it is very important for all the businesses to ditch traditional modes of marketing and embrace the gen-next ones. From new offers to confirmation of the order, subscription alerts to renewal notifications, customers are constantly expecting new ways of interacting with the brands and business.