Highlights of the National Restaurant Association’s 2030 Insights
In November 2019, the National Restaurant Association unveiled their 2030 Insights Report. Although released ahead of the Coronavirus pandemic, the report contains useful predictions and potential industry disruptors that may develop between now and 2030. As we go into 2021, here are the top things to keep track of:
Top Predictions:
Data analytics and collection will grow
Mobile payments and kiosks will be more commonplace
More customer data will be collected in the point of sale system
Delivery packaging will become more sophisticated, effective, and eco-friendly
Marketing will become more personalized with the increase in data collections
Automated digital menus that change prices based on the time of day and day of the week when the order is placed
Increased regulation of third party delivery apps like GrubHub and UberEats
Automation of some back of house roles, like inventory, payroll, and scheduling
An increased consumer interest in food sourcing, with local food sourcing becoming more commonplace
More healthy and plant-based options
Growing numbers of consumers with dietary restrictions
Food that is sustainably sourced
Possible Disruptors:
Advanced information technology and data collection - apps, AI, personal assistants (like Alexa and Siri), voice search, growing demand for personalized diets
Movement towards “Virtual” restaurants - online or in-app restaurants only that operate out of shared kitchen spaces. (Interestingly, this is already something that began to take place during the COVID-19 pandemic, with this memorable article about Chuck E. Cheese)
Loyalty to third party delivery over your restaurant’s app - why would consumers make space for an app that only delivers from one restaurant? Apps like GrubHub and Uber Eats offer customers with hundreds of eating options, all inside of a single app, leading to this prediction that third party apps will eclipse individual restaurant apps.
Restaurant subscription box models - The subscription box model of brands like HelloFresh may be applied to large chain restaurants, who would offer a flat rate box shipped directly to consumers.
Increased gatherings at restaurants - with many shopping malls and brick and mortar retail stores going away, consumers need a place to come together, and will be looking towards restaurants. There may be an increased need for socializing space in society.
Medical Meals - meals created using genetic and scientific information as a prescription. There could possibly be a partnership between restaurants and the health insurance industry to cover the cost of these prescription meals.
Excited about the future and wondering how you can make the most of it? Sherane Chen LLC is here to help you future-proof your business and maximize your profits. Contact us today or call (386) 627-3628 for a consultation!