State of the Industry
Incisiv surveyed senior restaurant executives to understand their outlook and readiness for the future of in-restaurant dining, and the key findings from the study were put together in a report format. The report covers topics such as the impact of online ordering on in-restaurant experiences, adoption plans for various customer-facing and restaurant operations technologies, and addressing key challenges such as lack of skilled labor and loss of customer proximity.
This report explores the impact of digital transformation on the in-restaurant dining experience, identifying key strategic imperatives to improve operational efficiency, and developing the roadmap for the next generation of customer experiences and restaurant operations technologies. The report also highlights the need to invest in technology infrastructure to gain a competitive advantage as the restaurant industry evolves.
As consumers continue to reshape their expectations,
enterprises must contend with a uniquely challenging landscape.
The consumer technology landscape is forever changing.
From Pinterest to TikTok, WeChat to Instagram, new experiences can rapidly gain consumer adoption and relevance.
From augmented reality to voice, smartwatches to chatbots, consumers are constantly embracing new interaction paradigms.
Commoditized convenience is eroding loyalty and margin.
Consumers expect convenience. If you can't deliver it, they'll go elsewhere - e.g. next day shipping becoming the new standard.
Walmart will reportedly lose USD 1 billion on eCommerce revenue of USD 21 billion this year as it faces challenges in its bid to complete against Amazon – from trouble integrating its DNVB acquisitions to impact on margin from its next-day delivery operations.
Consumers value experiences that are curated to fit their lives better.
They want to engage, be served, and transact at their time, their pace, their place. They have little patience, infinite choice and the freedom to swipe left at the slightest hint of friction.