There’s nothing like stopping by trade shows and industry conferences throughout the year to get a glimpse into topics on the minds of restaurant operators and the trends that will shape the future. In 2023, as restaurants grappled with challenges ranging from traffic woes to cybersecurity threats, crucial insights emerged at trade shows, particularly in the realm of loyalty programs and online ordering. Here are the top three takeaways that will redefine the landscape for restaurants in the coming years.
Loyalty Programs: Beyond Discounts and Deals
A resounding lesson from trade shows this year was the unequivocal impact of loyalty programs had on restaurant success. Data revealed that a staggering 57% of consumers are more likely to visit a restaurant with a loyalty program. However, consumers are motivated by more than just discounts. Successful loyalty programs now extend beyond the conventional realm, offering perks such as skipping lines or gaining access to exclusive experiences. Restaurants learned that loyalty programs, when designed strategically, can become powerful tools for customer retention and attraction, unlocking avenues for sustainable growth in an increasingly competitive market.
Learn more: Does your loyalty program need right-sizing? This e-book breaks it down.
AI and Chatbots: The Groundbreaking Frontier
The growth of AI emerged as a focal point of discussions this year as operators found themselves fascinated by the potential of ChatGPT. Although the full extent of its applications in restaurants is yet to be realized, the consensus is clear—it's a groundbreaking technology that cannot be ignored. Restaurants are experimenting with AI chatbots to understand their capabilities, acknowledging that the possibilities are both exciting and, to some extent, daunting. The future may see chatbots playing a transformative role in customer interactions and service delivery, revolutionizing the restaurant experience.
Learn more: Our in-house experts dove into the future of digital guest engagement in this webinar.
Traffic Challenges and the Resilience of Takeout:
Despite challenges posed by traffic trends, restaurants found resilience in takeout services. Pickup and delivery traffic as a percentage of total orders has remained steady, indicating a sustained demand for off-premise dining. Even though this channel seems to have reached a plateau, operators expressed a continued commitment to investment in takeout services. The insights highlighted the need for restaurants to strategize and innovate in the takeout space, ensuring a seamless experience for customers who continue to embrace the convenience of dining at home.
Learn more: Check out this year’s Online Ordering Report to dive into our data.
The trade shows of 2023 provided a path forward for restaurants, emphasizing the pivotal role of loyalty programs, the potential of AI, and the enduring significance of takeout services. Armed with these insights, restaurants can navigate the challenges ahead, adapting to evolving consumer behaviors and leveraging technology to create memorable dining experiences. The future of the restaurant industry lies in embracing innovation, staying attuned to customer preferences, and embracing the transformative power of emerging technologies.