5.24.2019
According to a new survey conducted by Oracle Food and Beverage, a large percentage of restaurant operators are confident in their brand’s use of mobile technology. Only 48% felt prepared to capitalize on future innovations.
The study, which polled 279 leaders in the food and beverage industry who used mobile technology during the summer of 2018, found that 62% of the respondents expressed doubts over their ability to keep up with the speed of mobile technology changes. More than half (59%) agreed that their company faced the threat of disruption from their more mobile-enabled competitors.
The findings pointed to a need for restaurants to embrace mobile and back-end technology to drive higher ticket value, turn tables faster and enable upsell. It also found that brands should embrace mobile technology to avoid being outpaced by the competition, help cut labor costs and improve the guest experience.
Restaurant operators are investing in mobile technology to cut costs and save time in areas such as hiring fewer serving staff but more runners, keeping a close eye on stock levels to avoid over-ordering and waste and the ability to quickly change the menu and offer specials when there is an overstock of inventory.
- 84% of food and beverage executives said the adoption of guest-facing apps drives down labor costs.
- 96% agreed, with 40% strongly agreeing, that expanded mobile inventory management will drive time and money savings .Improving loyalty and the dining experience.
Today’s foodies are satiated with choices. In addition to great food, what drives their loyalty is easy ordering and delivery, fast, seamless payments, and a personalized experience.
- 86% of operators said branded mobile apps increased their speed of service and therefore revenue
- 93% said guest-facing apps enhanced the guest experience, promoted loyalty and drove repeat business
Restaurants are already using mobile devices for table reservations, taking orders and processing payments, but what value do restaurant operators believe will come from future mobile innovations?
- 82% said partnerships with third-party delivery services like Uber Eats and GrubHub would help grow their business.
- 89% believed check averages would increase thanks to in-app recommendations.
- 95% said the guest experience and customer loyalty would continue to improve.
While most organizations rated themselves as highly able to meet new consumer demands, an undercurrent of anxiety about the future was also apparent with only 48 percent of respondents reporting that they had the tools needed to meet the mobile demands of tomorrow.
Click here to access the report (registration required).
