TECHNOLOGY: 7 Restaurants Technology Trends to Keep an Eye On in 2020
As new technologies evolve and older ones mature, it will disrupt restaurants industry. The rise in popularity of food delivery apps and the role of social media are two such examples. If you own or operate a restaurant, it is important to know what new and evolving tech will impact the industry and your business. Not only that, you should also keep an eye on the latest tech trends so you can make the right decisions and drive your restaurants to success.
DID YOU KNOWS…
Where’s the Beef?
“Fake” meats are on the rise in the U.S., with fast food chains like Burger King and Dunkin Donuts adding “impossible” meats to their menus. More than 30% of Americans have tasted a plant-based burger and most of them liked it, giving it a score of seven or higher on a scale of one to 10, according to a new survey conducted by YouGov. However, just because most people liked the way the plant burger tasted doesn’t mean they are necessarily willing to give up regular meat burgers.
Countries with Most Lefties
Many studies have been conducted gauging the prevalence of left-handed people around the world and website leftyfretz.com has collected the results and compiled a country comparison. The data is presented on this infographic, most of which comes from separate studies from different years. For example, the European countries listed are from a 2009 study by I.C. McManus which found that the Netherlands has one of the world's highest prevalences of left-handedness at 13.23%.
US Imports from China Dropped by $87 Billion
U.S. goods imports from China dropped by $87.9 billion to $452.2 billion last year, the lowest level since 2013. Meanwhile U.S. goods exports to China declined more moderately by $13.5 billion to $106.6 billion. China wasn’t the only country that saw demand from the U.S. change significantly in 2019. While U.S. imports from Venezuela dropped by $11.2 billion due to sanctions imposed against the authoritarian leadership of Nicolás Maduro, other countries and territories, Vietnam, Mexico and Taiwan in particular, profited from the fact that many U.S. companies diversified their supply chain to reduce dependency on China.
NO SUCH THING AS BAD PR
Why it matters to you: A public relations strategy is just as valuable as traditional marketing.
You’ve likely heard the old adage, “All PR is good PR!” Now we aren’t suggesting that bad public relations is a good idea, but we are confident that running a public relations component to your marketing strategy is… well, just good strategy. We are reminded of the value of PR after reading this blog that delivers five PR ideas you can implement in your restaurant this year. Sure, suggestions like hosting a charity even at your restaurant aren’t new or glitzy, but they are 100% a way to gain public relations. At the heart of any PR campaign is a desire for what is called earned media.
Earned media is content written about your business by someone else. It includes broadcast segments, newspaper & magazine articles, blog posts, and Instagrammer stories. That’s why organizations like the NFL support youth sports, because the articles written about their efforts reflect well on their brand and remind people they are an important player in our community. So, whether you sponsor a local sports team or help a local couple pop the question, you are inviting media attention. With that attention comes the exact brand expansion that public relations aims to deliver. It’s clearly better to create a media worthy experience than have something negative be the object of media attention. At least by directing it you can have some measure of control over which you achieve.
[Source: Modern Restaurant Management]
AFTERMATH
Why it matters to you: What can we learn about sales trends from this year’s Super Bowl?
With any cultural event, like the Super Bowl or Presidential Elections, it’s hard to gauge the impact on your restaurant. The regular rules don’t apply, and consumer behavior follows a path dictated not by normal life, but by the event itself. For example, in reviewing their POS results from Sunday February 2, 2020, Toast POS reports clear sales trend differences from a regular Sunday. First and foremost, check averages drop from a regular Sunday.
This may seem counter intuitive, but if you consider the timing of the Super Bowl it might be less so. Toast also tracked the hourly revenue trend and found lunch sales peaked at 1pm from lunch and began declining until the 4pm as guests began to arrive for the game. Guest check averages for the day also dropped from a normal Sunday at $32.75 down to just $30.84 for Super Bowl LIV. This is likely due to the nature of ordering for an event like Super Bowl and the fact that it was a Sunday evening.
The big winner, however, was carryout. Off-premise orders were up 16.3% over a regular Sunday in January. If you are planning for next year, this is an opportunity to drive extremely profitable carryout sales for the big game (actually any game for that matter). As more folks create their own home theatres and host sports at home, providing a great catering menu could be your point of differentiation. Either way, there is something to learn in reviewing results from this and any big event.
[Source: Toast POS]
