In today’s market, many restaurants are struggling to keep their profits up… and their costs down. Increased competition, hefty price tags on “cutting-edge” technologies, and labor costs are three major obstacles that restauranteurs face. Grocers are offering lower prices; new food programs are providing ways for people to order meals and have them shipped directly to their doors; and, labor costs are leading some restaurants to increase their prices. Additionally, studies are showing that the price disparities between restaurants and grocers, and the increase in costs, are driving away guests. For example, a Reuters/Ipsos restaurant survey, as discussed in a recently published Fortune article, found that “a third of U.S. adults are eating out less frequently than three months ago, mostly because of cost . . . .”
With these challenges and the restaurant industry’s rough fourth quarter at the end of 2016, many restaurants are scrambling for ways to stay competitive and succeed in the current market. The Fortune article quotes Bob Goldin of Pentallect Inc., a food-industry strategy company, saying that the dollar amounts that people are spending for food hasn’t changed as much as where they’re spending. So, how do you get people to spend those dollars at your restaurant? Well, one primary way, aside from trying to be affordable, is making the guests’ restaurant experience convenient!
In the Fortune article, analyst Stephen Anderson is quoted saying that the restaurant chains most likely to succeed, in spite of the downward trend in restaurant sales, are those that provide the greatest convenience. The article also quotes Anderson saying that restaurants like Domino’s and Panera Bread are among those likely to do well because they provide convenience for guests through digital platforms. And, according to the article, poll results support this concept showing that 55 percent of respondents noted convenience as a reason that they eat at restaurants.
So, how can your restaurant provide a greater level of convenience for your guests? At SYNQ3, we’ve developed multiple digital platforms to help restaurants create more convenient, efficient, and enjoyable interactions for their guests—solutions that also drive greater restaurant profits. We have tools like Rapid Reorder that track guest preferences, so they can order faster with less room for error. And, we have an omni-channel AI, ASR solution that speeds up guest interactions, increases efficiency, decreases abandonment rates, and provides a better overall guest experience. Which are all important factors for a convenient and effective ordering experience.
Learn more about our AI and other digital restaurant solutions.
In today’s restaurant industry, ensuring a long successful future requires that restaurants figure out how to best adapt to today’s consumers. Today’s consumers care about a lot more than just good food; they care about efficiency, convenience, and quality service. And with our tools, your restaurant can provide the experience that will wow guests and keep them coming back. Because when they’re making that last-minute decision for lunch, they’re most likely going to order from a restaurant that can get them the food they want, through the channel of their choosing, when they want.
At SYNQ3 Restaurant Solutions, we can help you be that restaurant!