Technology has an impact on every aspect of our lives, from simple communication to the way we shop to the way we work. The same is true for the food and beverage industry.
Considering the speed at which things are changing, restaurants can benefit from keeping up with the trends and adopting a wealth of technology (like POS Software, inventory management software, for example). This enables them to level with the competition and thrive within the industry.
To help you anticipate changes in the restaurant industry, here are four technological trends you need to keep your eyes on in 2024 and beyond.
1. Contactless payment
Non-contact technology is no longer a human fantasy fed by science fiction threads. Today’s consumer prioritises experiences that take up less time and energy. One study has even shown that more than 42 percent of consumers are willing to pay more for a friendly and welcoming experience, and 52 percent for fast service.
The more you try to follow trends with your restaurant, the more your customers will prefer you over the competition. So it’s no longer about enabling online ordering. Instead, it’s about using technologies that allow customers to pay with a smartphone, a smart card via an application, a smartwatch or a contactless device.
A study carried out amid the coronavirus pandemic in 2020 showed that the adoption of contactless payment solutions has resurfaced. This is because now more than ever, consumers want to:
- Limit the risk of illness by avoiding physical contact
- Save as much time as possible in their shopping experience
Although this trend is slowly evolving, it is progressive and is not about to stop. According to one study, the global market size for contactless payments is expected to exceed USD 4.60 trillion by the year 2027, and having such options available to 34 percent of customers would be extremely important.
There is also strong evidence that consumers aged 35 and under prefer contactless payment methods. Besides, in 2018, Generation Z alone paid more than 14.6 billion visits to restaurants, representing a quarter of all foodservice traffic. You can see that it is more important than ever for your restaurant to embrace this trend.
2. Restaurant hiring technology
According to a Toast report on restaurant success, 51 percent of respondents cite recruiting, training and retaining staff as their biggest operational challenge. With the resurgence of online ordering, restaurateurs are finding it difficult to focus on business growth and recruitment.
Since most restaurant operations are now conducted online, recruitment has to adapt to this. Among other things, you need staff to handle social network accounts, manage online orders and ensure deliveries.
By investing in restaurant hiring technology, you can maintain a comprehensive career page where you can post and manage your vacancies at the click of a button. By doing this, you will strengthen your brand image as an employer and present personalised content that will help you attract great talent, all in one click.
3. Contactless ordering
By 2024, more than 51 percent of consumers have downloaded at least one new food shopping application. Also, 41.7 percent of people say they will use digital ordering options in the future. These figures show that the total number of potential customers of foodservice providers has increased by more than half in six months and is not about to stop.
Also, a report by Data Essential suggests that two-thirds of Americans are concerned about eating out and touching shared items such as chairs, menus, napkin dispensers, etc., and that they are more likely to eat in restaurants than in hotels.
With contactless ordering technology supported by restaurant point-of-sale software, restaurants can give patrons the confidence and convenience they need to get to the restaurant. With a minimum of touchpoints, digital QR-code menus, mobile reservations, and mobile payments, this technology eliminates potential transmission points which, in turn, removes any hesitation customers may have.
4. Automated inventory management
In the past, monitoring food and drink stocks, planning replenishments, and even anticipating quantities was tedious. Nowadays, the automation of your stock management allows you to perform all these tasks effortlessly.
The best thing about such software is that it allows you to reduce food wastage, which is estimated at $100 billion a year. It also allows you to reduce food costs and run your business more efficiently and sustainably. Saving time and money while helping the planet is a sign that you care about sustainability. It will give you a place of honour with your customers.
The Bottom Line
The coronavirus has undoubtedly disrupted the way business is done, but it has opened up many opportunities for all industries, even the restaurant industry. Now that the average consumer habits have changed, restaurant operators have to adapt and surpass themselves. Fortunately, there are technologies that will help meet this challenge. Keep with the trends mentioned above, and you may soon notice a positive change.
Talk to our team at iPadPOS about the best solutions for your business today.
Ross Smith
CEO at iPad POS Middle East
