Technology and competition is dramatically changing the way that Restaurants operate. We look at how these 2 mega trends are creating the 7 big trends for 2017 for Restaurant owners and chefs.
We have identified 7 major trends that will change the Restaurant industry in 2017.
1. Restaurant Home Delivery - there has been consolidation with the online ordering companies like Just Eat and Delivery Hero, and new entrants like UrberEats providing delivery for Restaurants who would have never thought of doing delivery 12 months ago. On top of this - we have Drones and Self Driving Cars - this technology is going to provide a lot of opportunities for Restaurant Owners.
2. Marketing - It is becoming really hard now to not have a strong marketing strategy for your Restaurant, along with great execution. You don't want to have the best restaurant that no one has ever heard of - because it is increasingly likely that you will go out of business if you do.
3. Bigger Data for Small Restaurants - using Facebook and Comparative Analytics are a powerful way to use big data for small Restaurants.
4. Automation - the rise of the Restaurant Robots. Rising wages and increasing costs are meaning that more Restaurant owners will turn to automation to cut costs.
5. Consolidation - For a small restaurant, going to 1 Restaurant to 2 is the hardest move, but it starts you on the path to get those economies of scale.
6. Specialization - It is becoming increasingly difficult to run a generic cuisine based restaurant. Many Indian or Chinese restaurants are struggling unless they are starting to specialize and give customers a reason to be loyal to them. We look at some of the areas that Restaurants are going to be moving into.
7. Divergence - Restaurants that have their strategy in the middle of the profit mix will struggle - they will either be pushed to build a Restaurant built around low price, or specializing to create value in niches. Being a good restaurant with nothing specific will force you to start competing on price and that will make it harder for you to retain your quality.
If you want to read about the changes, check out our in depth report on the Restaurant Trends for 2017.
For your Restaurant to prosper in 2017, you need to be educated. Check out our best Restaurant podcasts of 2016. There are 19 must listen to podcasts from the thought leaders of the Restaurant Industry.
Look at the free tools to market your Restaurant and start to differentiate your Restaurant from your competitors.
