Self-order technology helps fuel QSRs' growth
Editor's Note: An earlier version of this article ran on QSRWeb.com, a Kiosk Marketplace sister publication.
You need to look no further than the pages of QSRWeb.com to know that restaurant operation is dependent on technology. From self-order kiosks to search and ordering apps to delivery, loyalty and even AI, it's become nearly impossible to play in the QSR field in developed markets without also seriously playing with technology.
And there's a lot of money at stake, with the quick-service industry in the U.S. now estimated at nearly $199 billion annually, according to Statista. And a lot of that cash is flying through online ordering portals these days. In fact, the online ordering business grew 23 percent in the U.S. last year.
A great deal of that restaurant ordering is also being delivered to QSR customers, whose numbers also grew last year over 2017, by 3 percent, NPD Group reported. Still, a healthy share of today's restaurant operators actually got into this business in the first place because they love food and hospitality, rather than technology. As a result of this deficit of overall tech expertise, leaders can easily get derailed along their paths toward the best systems for everything from online ordering and delivery, to all the other current and future tech-infused restaurant functions.
Since this part of the restaurateur's job isn't going anywhere, it's essential that leaders learn about technology that might further their brands. Cousin's Subs CFO Jason Westhoff said in an interview with QSRWeb.
"As guest expectations and our industry continues to evolve, we view our investment in technology as vital to our brand's success," Westhoff said. "From a smoother checkout process to us being able to target what offers will better suit guest(s') needs, our new point-of-sale allows Cousins system to run more effectively.
"By making these investments, we have standardized our technology infrastructure and put a system in place that can positively impact our business for years to come. Not only do these enhancements improve in-store operations and reporting, they deliver a more rewarding guest experience."
What technology QSR leaders should watch
So how does a QSR get to a place of satisfaction that Westhoff has? We wondered what some of restaurant tech's experts might say to that question and where they would tell QSR leaders to watch and possibly even invest in restaurant tech in coming months.
At food and labor management system company, Rosnet, Director of Business Development Patrick Bobrukiewicz said a lot of the emphasis should revolve around restaurant-generated data and its implications for business in the future.
"Data is crucial in making marketing and strategic business decisions, specifically when you correlate data with your restaurant's bottom line," he said. "An operator is constantly looking for ways to make the best decision in their marketing efforts and showcasing items that are going to make them the most dollars.
"This shouldn't be done looking plate by plate, but instead by using data to look at the item affinities. For example, you might see that you make $3 more per rib dinner, but when people order the burger they typically ring in an upsell and dessert. When the data shows that the burger might be more valuable to your bottom line, you can use this to make better marketing decisions, like swapping out the big photo of ribs for your burger.