Technology Trends: BHA Food Service Management Report 2016.
We were honoured to have been invited by the British Hospitality Association to contribute to the Technology Trends section of their Food Service Management (FSM) Market Report 2016. The market report aims to track and analyse performances and trends in the UK food service management sector.
Technology is advancing at a faster pace than ever before and is changing both the expectations of patrons as well as the way in which the hospitality and food sectors conduct business. Technology is a driving force of innovation today, challenging even the most established companies to modernise and re-imagine how they stay relevant.
Here are our observations and key predictions for technology trends in the hospitality industry
In-app payment solutions are also becoming increasingly popular. However, from what we observed, in-app payments only accounted to 1% – 3% of transactions processed in the past 12 months. It goes without saying that these figures will continue to increase at a rapid rate over the coming months and years. This will be due to in-app features such as marketing, loyalty rewards and spilt-bill payment options.
Statistics from our loyalty app partner, Como, are seeing an increased retention in customers and increased sales. Como suggested that customers who are registered to a loyalty scheme spend around 25% more and have an increased promotion redemption ratio.
We’ve noted that takeaway and order-in sales have increased dramatically in the last year. By a staggering 54% on average! This is due to increased use of popular managed food delivery services such as Deliveroo, UberEats, Quiqup and Jinn.
Predictions for the next big trends in the hospitality industry
With increased employee costs, quick service restaurants will begin implementing more and more self-service kiosks as well as online and in-app ordering.
We believe that data analysis will become increasingly important as advancements in data sciences and digital trends take off. This will help empower business intelligence through technology.
The way technology is advancing, the Internet-of-Things industry will find its way to the commercial market. Industry standard equipment like cookers, dishwashers and fridges will have sensors embedded in them that can be controlled via the cloud and alert operators when services are due or if anything is faulty.
From the BHA’s FSM market report; Technology was the strongest factor expected to influence the anticipated growth of FSM business in the next year. Booking with EPOS systems, E-Learning for staff training and Contract Management Software is also predicted to increasing the impact on business operation in the future.
The rapid development of digital and technological innovation will be transformational in the hospitality world over the coming years. Great food and service will always be a core requirement, but the way it is delivered, paid for, made available and accessed will change markedly.