In a byline for Modern Restaurant Management, Tim McLaughlin, GoTab’s CEO, brings to light what he thinks awaits the hospitality industry in the new year.
What is to Come
As we wrap up a year that has brought more tremendous change to the hospitality industry than any other, McLaughlin highlighted five changes that could await the restaurant and food tech industries in the year to come as we all prioritize putting our technology solutions to work for hospitality operators, and keep adapting and innovating to answer their needs.
Restaurants Will Invest in Bridging E-commerce and Real Commerce
The pandemic has forever changed restaurants, wineries, breweries, entertainment venues, businesses that had been previously reluctant to further embrace technology throughout their operations. Countless operators had to rethink their approach to their business digitally this past year, almost two. They realized that both their on- and off-premise experiences are more closely connected than ever before.
With more technology at everyone’s fingertips, hospitality operators are able to bridge e-commerce with real commerce — focusing more on meal kits, retail or grocery offerings, subscription- or membership-based options as just a few examples.
Marketplaces Will Become More Expensive for Consumers and Operators
McLaughlin suggests that marketplaces will continue to consolidate through acquisition which will result in about three major players vying for the entire off-premise market.
This means marketplaces will be even more expensive, for both operators and consumers. In some markets, we’ll grow accustomed to automated delivery method; however, it is difficult to predict how the consolidation might fully affect consumer behavior.
Hybrid Service Models Will Become the Norm
Operators will see increasing demand for more flexibility with their hospitality service and payment models, other than what has been traditionally used. Guests will have the ability to order through a kiosk, a server, and through their phone all in one venue.
More Consumer Payment Method Turf Wars
With the recent turf war between Amazon and Visa in the UK and Australia, it shows a glimpse as to what might happen in 2022. Amazon could be testing the ground for future ACH payments, to prevent operators and vendors from having to pay high processing fees to credit card companies.
This may generate consumer blowback for having to enter a new payment method, and will obviously affect Amazon’s next moves.
Breakfast Becomes Even More Essential
Breakfast service has been considered a less profitable day part, when compared to lunch or dinner. With technology helping businesses manage operations, we will see breakfast offerings expand, making the day part more profitable and providing more options to customers. Breakfast takeout will expand further, as customers continue to grow accustomed to pre-ordering on their mobile device for faster and better service.
The Difference With GoTab
GoTab offers a digital menu platform that is innovative, well-supported, and looking toward the future of menu management technology.
The platform has helped many customers alike feel safer while dining, but has also kept the restaurant business afloat. Now more than ever, restaurants need the flexibility to change on-the-fly, add 86 items, and ensure you’re offering a menu that appeals to your guests