5 Technology Trends In Retail And Hospitality That Are Changing The Industry

By: | February 25th, 2023

The world is in the midst of a digital revolution. Just like the industrial revolution centuries ago, the planet, its people, and its businesses will never be the same again. Retail outlets and restaurants are already feeling the effects of the changes that digital technology is bringing.

Here are five tech trends that the industries are experiencing now and how they are going to develop in the near future.

Self-Ordering Apps

The biggest change in the restaurant space is self-ordering. Now, it is common to find this restaurant technology in both big chain outlets and small mom-and-pop diners. With the help of technology like KioskBuddy and a couple of taps on a tablet, customers can get access to the full menu and make their orders. They can even receive notifications giving them an ETA for their meal. This is changing the consumer experience and the cost of operations for restauranteurs.

This is just one of the early changes that digital technology is bringing to eating spaces. A huge amount of money is being invested into automating cooking. Robot chefs may be just around the corner. Though these types of restaurant technologies are unlikely to be embraced by fine dining restaurants, their potential in the fast food sector is huge. Soon you may be able to order a burger, pick it up, and pay without interacting with a human server.

Contactless Payment Methods

This technology has become ubiquitous in retail and restaurant outlets and is quickly becoming the preferred way for consumers to pay. Using contactless payment systems with a card has been around for a while now, but more and more people are using their smartphones to pay for goods and services. This is much more convenient and secure, benefiting both the outlet and its customers.

Making payments through contactless systems is also more hygienic, which helps make it more popular in restaurants and diners, especially in the wake of the global pandemic. Paying for goods and services using a smartphone app also gives consumers more information about their purchase history and makes balancing their budgets easier. Convenience is a huge driver of digital technology, and when businesses adopt these technologies, they make their outlets more convenient for their consumers which adds value to their customer experience.

Automated Inventory Management

Whether you are operating a retail outlet or a restaurant, managing inventory is a time-consuming part of the job. One mistake or oversight in this area can have massive repercussions for the business. Inventory management software can take the headaches out of ordering stock and monitoring stock levels. It can order stock automatically and schedule deliveries, making managing both restaurants and retail outlets a lot easier.

Using an automated inventory management system also reduces waste, which costs the food industry and supermarkets millions of dollars a year. Keeping food waste to a minimum has a massive positive impact on profits, helping these systems to pay for themselves in a short amount of time. Reducing waste also helps businesses to achieve sustainability targets.

Self-Checkout Tech

If you take a trip to any grocery store or large supermarket you are likely to find self-checkout tablets lined up next to the traditional cashiers. This simple change has been revolutionary in the retail sector. Consumers like them as they make the checkout procedure more convenient and they can move at their own pace. Businesses have been unable to ignore the huge savings they represent, allowing them to focus their staff on restocking shelves while the customers process their own purchases.

Many checkout lines can be supervised by just one or two members of staff. Any issues can be dealt with quickly, and cameras and weight monitoring systems help prevent thefts much more effectively than a cashier at a traditional checkout can. Over the next few years self-checkouts are going to become the new normal, and traditional checkout lines will be a thing of the past.

Food Delivery Apps

Nothing has changed the restaurant industry quite like food delivery apps. Without having to make any investment in technology, food outlets can now offer a delivery service through apps like GrubHub and DoorDash. This opens their restaurants and diners up to a whole new customer base. The potential for profit is huge, as long as the outlet can keep on top of the orders.

Self-driving technology and drones will further expand the reach and efficiency of food delivery. Soon, restauranteurs will be packing orders into automated cars and on the carriages of drones for speedy delivery to customers across their cities and towns. This type of service is going to expand exponentially in the next decade and become a regular part of restaurant life.

These technology trends are just the tip of the iceberg. There are even more advancements waiting for consumers and retailers just around the corner. Embracing these types of tech can lead to bigger and more consistent profits, and the retailers and restaurateurs who miss out on this technology will be missing out on a bigger and better future.


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