Hint: The answer is data.
The dominance of quick-delivery e-commerce giant Amazon has meant significant shifts in the restaurant industry, according to an article in QSR. “Amazon represents the present and the future of American business,” the article said.
According to the article, Amazon’s industry-disrupting power lies in its technology. “Amazon tracks each customer’s orders, preferences, search habits, etc. and uses this information to its advantage to sell more and to enhance the user experience to increase customer engagement, offer the best possible service and constantly find ways to improve it,” the article said.
Some restaurants have certainly begun to roll out integrated, data-driven technology solutions for their business, and digital point-of-sales systems have been a significant element of the restaurant industry for years, yet “The restaurant industry has its own unique business model that differs from retail, which has led to many operators rejecting consumer-facing technology,” said the article.
Owner-operators of the restaurant industry must take note “if [they] hope to survive,” said the article. Per the story: “It’s simple: The better you know your customer, the better you can serve them. We have the ability now to tap into guests likes and dislikes with the power of technology.”
Read the full story here.