Key trends driving innovation in the restaurant industry. TSHS 0028


Be more fair to your merchants. Who are supporting your business and going forward from kobe. It needs to be win win. And that's what we're preaching to to the industry today that if that kovic should have taught us going forward in terms of values that we need to find win win relationships and whether it's our suppliers our customers or our third third party delivery providers whoever it is we need to find those win win type relationships in order to make it work and one of the things we did We have a a pizza brand called so pizza we have six outlets we. We realized that eventually we have to run our delivery business because paying the twenty or twenty five or thirty percent. Some people are paying thirty. Five percent of their revenues to these delivery providers was not going to work in the long term so we started our own delivery because we knew that it was gonna be different difficult from a from behavior perspective to get people to leave those apps where they can order it. A click of a button for many restaurants but we also knew that it wasn't going to provide for us over the long term so we set up our own delivery platform and you move from the business of being in food to the business of logistics. And that's what's happened to our industry and that's really really challenging so You know i would. I would say that we need to look at all the different facets of our business we need to become more financially driven. We need to be more. Kpi driven and we need to become more creative going forward. Yeah i mean if you're looking at the at the costal running restaurant not only. Do you have your thirty percent. The food and beverage cost you have your staffing costs and then on top of then you have your rent if you don't own the business editor place and then you have the commission you have to pay the delivery so it's really hard to imagine how you can have how to make it work. But what are the things that you see. Are things a nimble operation. What other sorts of tech issues. Because you have some background things that you were a recommend and suggest what you see that they they could look at me moving forward and so you know traditionally looked at hospitality is an industry. you'll see that the industry was always a laggard when it came to innovation. And today you look at the fbi and what happened to the hospitality industry. They got hit by. Ota's and not as hit them so hard that there's no going back and the otas today compromise a significant portion of the demographic of business that's coming in from the distribution channels that come to tout the same thing happen to the restaurant industry we didn't innovate and we got hit by third party. Delivered and they are becoming a huge aspect of our business. Going forward so traditionally you know. We have not embraced technology as an industry and one of the challenges of our industry. That's that's happened is that all of us have pizzas but the piel s. Don't talk to the table. management table. management doesn't talk to the reservation management appeal s doesn't connect to the crm at form. It doesn't connect to the loyalty. I believe that while things are slow right now. The only way we're going to win customers where things come back is that we know our customers. Well we got to understand and be able to personalize that experience because customers don't to go out anymore. They can get the food coming to that you know. So what are you gonna do to lure customers to come out. And i think that personalization is going to be key now. Personalization is is a human centric a task. It's a naval by humans providing personalized service. But it can also be enabled by by tech because tech is an enabler in that sense to tech will provide the service but the tech will tell you that sam eric has spent this much my restaurant he comes on these days he loves the hendrix tonic. He's a vegetarian. He is no in the more data. We gather about sam. The next time. Sam comes to mind to our restaurant. We can really improve and use that enable s

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