The Restaurant industry is one of the most lucrative businesses in today’s market. To the dismay of many, businesses have been forced to change in the manner they operate due to COVID-19. Unlike many other industries, restaurants were made to adapt to changes that could occur through unforeseen events. For the most part, well-known eateries were able to withstand the aftermath of the pandemic. However, the smaller and many local businesses were devastated by the outfall due to COVID-19.
Restaurants with Limited Budgets
According to a survey conducted by the World Economic Forum (WEF), the world GDP is expected to sink by as much as 8%. This is mainly due to the loss of income by many consumers resulting in a steep drop in the number of individuals and families that eat out. Small and local businesses with limited budgets are not hitting their monthly target sales and are falling apart since the pandemic began.
In the 21st Century, Restaurant tech has evolved rapidly and here are some of the avenues that most restaurants have taken in order to survive this unforeseen hit on our economy:
Many restaurants are converting their menus into a digital version that is accessible online and are starting to offer more delivery options. The drawback from this is that most online apps charge an unreasonably high amount to provide this service. These types of practices are crippling the already paralyzed industry.
Some restaurants which cannot afford these “luxuries” are just settling for Takeout. This is one minor way to sustain business, but not nearly enough. Due to the existing restrictions and lockdowns, not many people are able to take advantage of the Take-Out options. The ability to implement Online Ordering or lack thereof could easily make or break a restaurant.
The use of Digital Signage is one of the most prominent ways to attract customers and present your menu in a more appealing manner. Takeout app has paved a new and unique way for online ordering and as a result, generating income for restaurants and keeping them afloat during these difficult times.
A survey proved that for consumers spending consciously, Takeout has become their main choice in the food industry, better than any other.
Although restaurants are treading unfamiliar waters, they are realizing that implementing technology into their business practices has helped sustain their livelihood tremendously. NENTO, a highly rated IT and marketing firm is one of the only organizations that already has and continues to assist small restaurants during these very uncertain times with a powerful restaurant tech. The specialized team of experts in Digital Signage, TakeOut App, and MenuOnline have become the main bloodline for the Restaurant industry which otherwise would be struggling to survive.