Webinar Recording: Consumer Off-Premise Eating Trends
The OnTrend Concepts team enjoyed this webinar on Consumer Off-Premise Easting Trends. Watch the recorded version us to hear the latest research on off-premise dining trends from Datassential. You’ll hear about the newest developments in this area and gain insights into the consumer preferences and habits driving them.
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Domino’s Expands Delivery Options
Domino’s Pizza, long-time delivery expert, is now offering carside delivery service, allowing customers to stay in their cars while one of the pizza company’s workers delivers their order to them.
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Amazon Could Slash Delivery Costs With $1 Billion Zoox Acquisition
Amazon announced early Friday its intent to acquire Zoox, a privately held company that has been working on autonomous driving technology. The deal, reported to be worth more than $1 billion, would be the e-commerce giant’s biggest move yet into self-driving, but Zoox’s technology could in time feed into Amazon’s larger logistics strategy as it seeks to reduce e-commerce fulfillment expenses.
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Customer Data is the Hidden Value in Food-Delivery Transactions
These third-party services benefit from fees that they charge both the customer and business, of course. But they also harvest something much more valuable: customer data. Perhaps the most valuable resource that comes from a transaction is the data analytics about the customer — such as personal information (i.e. name, email, etc.) and/or customer behavior (i.e., product preferences and “basket” size). This could be a great reason to keep delivery services in-house.
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COVID-19 Impact Report for Restaurants
Throughout it all, Revenue Management Solutions has been supporting their clients to make the best decisions for their brand under these unprecedented circumstances. Now, as countries start to reopen, they are being asked new questions about how to adjust to the ever-changing environment. To help guide clients this week, they have collected the following information for your consideration as of Friday, June 26th.
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Full-Service Restaurants Embrace Off-Premises Menu Innovation
“[Full service’s] lack of preparedness for off-premises has been pretty hard for the sector to deal with over the last few months,” says Tasso Roumeliotis, CEO of Numa, an AI-powered service that answers businesses’ missed calls and texts. “There’s still a lot of user experience that needs to be optimized.”
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Our Ghost-Kitchen Future
The branding and food are real, but the restaurants do not exist elsewhere in the physical world; consumers, presumably, are none the wiser. Uber Eats has facilitated seven thousand virtual restaurants, more than four thousand of which are in North America. Using data from in-app searches, Uber Eats identifies opportunities for certain cuisines in various neighborhoods, then approaches existing brick-and-mortar restaurateurs to pitch them the idea of launching a virtual restaurant.
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Does the Future Belong to Ghost Kitchens and Virtual Restaurants?
While the interest of the entire restaurant sector in delivery or take-out is currently the subject of particular attention, this trend is not new. A 2019 report from the National Restaurant Association indicated that 80% of restaurateurs consider takeaway delivery or sale to be an area of vital interest.
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Wingstop to Subdivide Territories, Explore Ghost Kitchens
With two delivery-only locations open in London, Wingstop is accelerating its evaluation of U.S. ghost kitchen sites, which Jobe said could have a more significant long-term role for the company’s expansion strategy, as well as reformatting existing locations to improve ingress and egress for takeout customers and delivery drivers.
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BJ's Restaurants Banks on Off-Premise Sales Amid Coronavirus
BJ's Restaurants continues to focus on off-premise services, digitization and menu innovation to revive its top line. In the past three months, shares of the company have surged 34.1% compared with the industry’s 14.1% growth. However, decline in restaurant-level margin due to high labor and operating costs, along with coronavirus-related woes pose concerns.
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4 Restaurant Stocks to Gain From Off-Premise Sales
During the pandemic-triggered lockdown, many prominent restaurants around the country shifted their business models drastically in a bid to keep up with the changing scenario. The digital innovation and adoption of new business models not only made these companies resilient during the pandemic but also ensured that these can continue to avail new-found methods to keep up with the demand for their products and generate revenues the way they did in the pre-pandemic environment.
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Long-Term Changes Coming to the Restaurant Industry
The pace and slope of recovery will be uneven across different segments, he added, with limited-service, off-premises and chain restaurants emerging as winners. Other long-term impacts include greater M&A opportunities, faster ramp-up of digital capabilities beyond online ordering and delivery, and a deeper focus on automation and ghost kitchens.
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Why is there Demand for More Cold Storage Space?
A shift in consumer preferences for fresh items combined with growing interest in grocery eCommerce has meant that cold storage facilities are seeing surging demand. Trevor Ragsdale and Tim O'Rourke explain what that new demand means for real estate investors and speculative developers.
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Cold Storage: Complex and Costly
A recent CBRE report suggested that an additional 75 million to 100 million square feet of industrial freezer/cooler space will be needed to meet the demand generated by online grocery sales in the next five years.
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Philippine Investment Firm SM in Talks with Partners for Grocery Delivery Service
SM Investments Corp. on Wednesday said it was engaged in talks to develop a grocery delivery service, banking on the growth of e-commerce. According to SM president and chief executive officer Frederic DyBuncio, efforts are now underway for third-party delivery services. SM's retail brands include The SM Store, SM Supermarket, SM Hypermarket, SaveMore, Walter Mart Supermarket, and Alfamart.
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