It seems that all areas of the economy are embracing digital commerce. Mobile commerce (also referred to as M-Commerce) has been on the rise for several years and its use continues to accelerate rapidly.
The food and beverage industry embraced technology early on and since the pandemic this area of commerce has rapidly implemented technology to survive and now to thrive. Today, the food and beverage industry is using digital technology in innovative ways to grow profits, meet the expectations of their customers, and keep their employees and customers safer.
One of the most important digital trends helping the food and beverage sector thrive today is the use of digital ordering platforms such as TechRyde. Ordering platforms help provide a superior customer experience, simplify business operations, and enable growth.
Engaging customers through technology will continue to grow at a rapid pace. Let’s take a look at the reasons why use of these digital trends will keep growing.
Digital Tools Help Grow Profits
The food and beverage market can use digital tools to get valuable feedback from their customers, analyze trends, and then adjust their offerings and practices to meet their customers’ preference. When a restaurant can collect, organize, and study data from their customers they can better determine what their customers like, dislike, and what they expect.
Having that valuable information helps the business to stay current with their customers preferences, correct practices that aren’t working, and provide their customers a great experience. When customers are happy with the business, they keep coming back. When they keep coming back, profits grow.
Digital tools also help restaurants and bars optimize inventory. Having the ideal amount of inventory is crucial to a thriving business.
Some digital platforms offer a cloud-based inventory system that help businesses automate their inventory.
With an ideal inventory system, a business will have just the right amount of inventory on hand at all times. This prevents having too much capital tied up in inventory than is necessary, as well as preventing spoilage and waste. It also prevents a business from not having enough inventory on hand to satisfy the customers’ demand.
Excess capital tied up in inventory and spoilage of products with limited shelf lives are wastes of the businesses’ vital financial resources. Not having enough product to satisfy the customers’ demands results in lost revenue. Both of these problems negatively affect the bottom line. You can see why having digital tools that optimize inventory results in increased profits.
Digital platforms also offer mobile applications that interface with smartphones and tablets that make it convenient and simple for customers to view menus, compare choices, and quickly and efficiently place and pay for food and beverage orders.
These digital platforms also offer the option for customers to pick up their orders from the business, or to have their orders delivered by a third-party provider, like Doordash Drive. When customers find it easy and convenient to place orders with a business, they will order more often and more frequent orders increase profits.
Customers Want the Convenience of Using Digital Tools
While the younger generations expect the convenience of placing orders online, baby boomers have also really embraced this technology.
In fact, one study found that 41% of customers (and 51% of millennials) are more likely to choose a restaurant based on whether or not it has the option of ordering online. Online ordering increases a customer’s satisfaction for several reasons
Customers like having the convenience of taking their time, comparing their choices, and then ordering exactly what they want. When a customer has an online, anonymous option, they make different choices than when ordering in person.
A study at Duke University found that online customers place larger, more complex orders than phone customers. Studies also show that online restaurant customers usually spend about 20% more than when they dine-in.
Perhaps one reason that customers feel more comfortable making a complex order online is that online orders result in fewer errors. When the customer puts their own order in writing it helps ensure their own accuracy in ordering, eliminates possible misunderstandings that can occur when its written down by another person, and makes it easy for the staff to follow the customer’s specific requests.
Using Digital Tools Can Help Keep Customers and Employees Safer
During the pandemic we all came to understand the need for social distancing. Ordering online and either picking up curbside or having your order delivered became was a much-needed service. It helped keep customers and employees safer by keeping social interactions at a minimum.
Whether facing an illness like Covid or a common virus, having the option to order online can keep employees and other customers safe from an ill customer who needs to place a food or beverage order.
For all the reasons reviewed above, as well as others that we haven’t even discovered yet, digital trends in the food and beverage industry will continue to be on the rise. There is no turning back now.