The Future of Restaurants: Consumer Expectations on the Rise
Recently HT caught up with Joel Montaniel, CEO and Co-Founder of SevenRooms, about his outlook for the future of restaurants and the growing importance of data. Here are the key takeaways:
Restaurants in 2022: the Momentum Continues
"The time of saying that the restaurant industry changed is gone. It’s no longer changing - it’s getting stronger; surging, and operators need to stay mindful of the evolving landscape. Personalization will reign supreme in consumers’ eyes - with the increased desire for loyalty programs, the ability to order and book ahead before arriving on premises and even take advantage of innovative payment options.
"The labor shortage and supply chain problems will be a continual thread, forcing operators to think about the pricing of food on their menus, how they communicate this to customers and, ultimately, how they use technology and data to get smarter and mitigate these issues," says Montaniel.
2022 Restaurant Industry Outlook
"The consolidation of technology will also continue - helping to solve some of these issues - and it will be more prevalent, especially as hotel F&B comes back into focus as a huge revenue driver for hospitality brands and becomes a way to drive loyalty with locals and travelers alike. Solutions must provide more than one benefit or insight to operators and ultimately lead to a better customer experience for all," he adds.
Experiential Dining & the Importance of Data
"Pre-pandemic, we saw a trend of immersive and elevated experiential dining; now as we return to a new normal, consumer expectations are only going up. The key to meeting these expectations lies in data - how operators interpret it and use it to their advantage for personalization and marketing to drive loyalty.
"Setting themselves up with the right technology provides operators with the insight they need to prioritize operational efficiency, as well as a more holistic view of who's in the restaurant and, through the automation of time-consuming processes, the additional time necessary to provide a tailored, hyper-personalized experience to every guest that walks through the door or orders online.
"These solutions also help combat labor shortages and skirt around already tight margins to drive revenue. Restaurants must invest in themselves - in the technology they use and the experiences they create - to boost customer loyalty or risk missing out on valuable revenue and loyal patrons," Montaniel says.
Joel Montaniel is CEO and Co-Founder of SevenRooms.