Digital Transformation Expected in the Restaurant Industry
Like many other business sectors, the restaurant industry is undergoing a digital transformation. The transformation will involve changing the way restaurants currently operate into a more digitally interconnected business model with new customer-centric processes.
Wikipedia defines the digital transformation as “the adoption of digital technology to transform services or businesses, through replacing non-digital or manual processes with digital processes or replacing older digital technology with newer digital technology.”
The expected changes in the restaurant industry, and most other industries as well, will occur as restaurants develop new processes that mesh with changing customer expectations. To be successful in the future, restaurants will need to focus on the frustrations and irritants that customers currently face and develop new processes that eliminate those problems. Technology is expected to play a big role in the changes.
Major Transformation Coming Soon
While many restaurants have already made some moves into the digital world, industry experts predict that the sector is on the cusp of a major transformation. Currently, about six percent of restaurant sales involve a digital component. It’s expected that in 2025 nearly 30 percent of transactions will be digital. That’s according to a blog titled “Technology’s Disruption of the Restaurant Industry – Are Restaurants Prepared?” by the Broadstreet Media Group.
The blog states, “It is clear that technology’s disruption of the restaurant industry is imminent. More importantly, the restaurant guests’ expectations of what a dining experience is has and is changing—are restaurants changing with them?”
The changes, however, may be fairly easy to implement. The blog goes on to state “It’s really not all that difficult to transform restaurant operations to create better customer experiences.”
Changing Customer Expectations
What do customers want and expect? A report titled “The Restaurant Digital Crossroads, the Race to Meet Guest Expectations” from BRP Consulting and Windstream Enterprises lists customer expectations that are driving the digital transformation. The report is based on surveys of customers and restaurant operators in the fast casual dining sector.
What customers want:
- Restaurant Wi-Fi: 47 percent
- Digital signage: 47 percent
- Contactless checkout/payment: 34 percent
- Pay with a wallet/card mobile app: 33 percent
- Interactive kiosks in restaurants: 31 percent
- Text alerts for order status: 23 percent
According to the report, consumers want easier ways to order food and pay their bills. The report backs this up, stating that 74 percent of Millennials and Generation Z want restaurants to offer digital solutions to make it easier to shop, order and pay.
Digital Technology Infrastructure
All of these changes will require a technology infrastructure that is designed to handle the new processes. Miller’s Landing in Castle Rock, CO, is prepared for the digital revolution. The new 65-acre mixed use development includes a technologically-advanced, pedestrian-friendly town center. It includes retail and entertainment options, a resort hotel and spa, conference and meeting facilities, modern offices and ample open space with easy access to some of the area’s best outdoor recreation.
Castle Rock is a popular community located on the I-25 corridor in the south Denver metro area. It offers the best of small-town living with easy access to big-city amenities along with a supportive business environment. It’s constantly rated as a best place to live and locate your business in the Denver area.
Miller’s Landing is building a multi-carrier, robust and redundant converged network that will offer tenants and visitors the connectivity technology so crucial to participate in the digital economy. This digital interconnectivity infrastructure will be built into Miller’s Landing from day one.
The Miller’s Landing digital infrastructure is being designed using the SmartTown design method. SmartTown scales smart city technology to mixed-use developments using a people-centered approach that focuses on user needs.
Miller’s Landing is being developed by Castle Rock-based P3 Advisors LLC. P3 Advisors specializes in remediating and developing brownfield sites.
We’re committed to the success of the businesses that will one day call Miller’s Landing home. Miller’s Landing is creating an exciting future. Join us.