Datacomm Research Company’s new 118-page study, Good Food and Drink and Connected Technology, 2014-2019 predicts that consumers will order food, pay checks, and do much more with their smartphone. The study describes how connected technology is changing the restaurant industry and ultimately all retailing, and forecasting revenue from online ordering, mobile payments, and digital gift and reward cards through 2019.
“The restaurant business is going digital,” said David Strom, co-author of the report. “Online ordering is generating billions of dollars of business for chains including Pizza Hut, Domino’s, and Papa John’s. Mobile payments account for a significant percentage of Starbucks’ revenue. A growing number of restaurant chains offer electronic gift cards and rewards. And chains such as Chili’s and Applebee’s are deploying tablet computers to all of their tables,” he added.
“The top restaurant chains’ use of connected technology is an important case study for the entire retail industry,” said Ira Brodsky, the other author of the report. “It’s increasingly clear that in order to prosper bricks-and-mortar, retailers must enhance their online presence and online retailers must enhance their physical presence. Integrated marketing is more ongoing and powerful.”
It reveals how restaurant chains are using websites, social media, mobile apps, and self-service tablets to deliver superior customer experiences. The research also examines restaurant chains, identifying some of the best and worst examples of how they are using consumer-facing connected technology.
According to the report, revenue from online ordering, digital gift and loyalty cards, and mobile payments will soar to $90 billion by 2019 and no retailer can afford to ignore the trend.
Datacomm Research Company tracks, analyses, and forecasts emerging technology markets.