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ivonneyee

Yum Brands Is Adding Disruptive Technologies Across Its Global Restaurant System. Here'... - 0 views

www.forbes.com/...al-restaurant-system-heres-how

yum brands adding disruptive technologies restaurant system

shared by ivonneyee on 25 Oct 21 - No Cached
  • Those moves set the ball set in motion to integrate technology-centric solutions across its four brands across the world with an objective of elevating both the customer and team member experiences.
  • “What Covid has done is change our mindset. We don’t have to have everything perfect to launch something. For example, in Pizza Hut, U.S., we launched contactless curbside and carryout in two weeks. In the previous environment, it would have taken months, committees, testing protocols. Now we don’t have the luxury of time. We don’t have to wait until we have sharpened the blade to perfection. Our strategy is the same, but our pace is faster,” Felder said during a recent interview.
  • “Digital Innovation Lab,” led by Park, a partnership with the Plug and Play platfo
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  • rm for startups and plans for a physical innovation lab to open later this year
  • The digital lab is unique in that it translates restaurant operations–be it at KFC, Pizza Hut, Taco Bell or Habit Burger–into a cloud “facility.”
  • Park’s team takes all digital inputs from Yum’s restaurants, like closed-circuit television footage of cars in the drive-thru, point-of-sale data or drive-thru audio, and puts it into the cloud
  • Plug and Play, which claims to be the world’s largest global innovation platform for startups and corporations
  • Automation can free up employees’ time spent on manual back-of-house tasks so they can focus more on customer-facing tasks, ideally providing more speed and accuracy in the process.
  • Some of these ideas–like voice, artificial intelligence, computer vision, IoT–have popped up in the restaurant industry here and there. None, however, have proliferated at the global scale Yum Brands offers. This is where the true disruption could happen. Yum has over 50,000 restaurants in more than 150 countries and territories, and employs 1.5 employees and franchise associates. Few food and beverage companies have this kind of global footprint.
  • Restaurant companies are no longer dabbling in technology efficiencies, they’re relying on them for their very survival. In fact, because of the pandemic, digital sales are now expected to make up more than half of limited-service business by 2025–a 70% increase over pre-COVID estimates. 
  • “The big lesson for us is we’ve got to be where the customer is. We have several restaurants at the moment trying to take consumer ease to the next level,” Felder said. “I don’t think we’ve ever seen a more fertile time of innovation in the history of the restaurant industry. We’re about to hit a wave of transformative innovations.”
  • ivonneyee on 25 Oct 21
     
    Yum Brands, which runs restaurants KFC, Pizza Hut, Taco Bell and Habit Burger, is integrating technology-centric solutions across its four brands around the world, which could result in an acceleration of disruptive technologies on a large scale. This Digital Innovation Lab then adds information from thousands of Yum Brand restaurants into a cloud facility. The information includes closed-circuit tv from a restaurant's drive-thru and point-of-sale or drive-thru audio. Hundreds of startups then get access to the data to compare their technologies in the lab. They're able to use that information to create more automated services like artificial intelligence, computer vision and the Internet of Things. Yum's idea is by improving automation back of house, employees can focus more time on customer-facing tasks, resulting in more speed and accuracy.
smones

Big Restaurant Brands Dive Into Grubhub Era Of Delivery Rivalry - 0 views

www.investors.com/...home-delivery-ecommerce-retail

shared by smones on 27 May 18 - No Cached
  • "There's a growth problem for a lot of restaurants in the U.S. Many fast-casual dining-type restaurants are mall-based or attached to retail spaces and consumers are just not going there as much," said Tom Champion, a Cowen analyst who follows Grubhub. Grubhub stock has shot up 141% from a year ago.
  • a millennial generation shift.
  • They typically share 20% to 30% of a bill with third-party delivery services. That matters in an industry with 10% to 15% operating margins and high fixed costs, including rent and staffing.
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  • home delivery services enable consumers to order from a restaurant that might be 5 miles away as opposed to one around the corner, Solochek says.
  • "We're going to see more and more quick-service chains begin to try out delivery," he said. "The margins associated with third-party delivery may be slimmed down. But, the question for restaurants is, 'If I don't do it and I'm not delivering my food, am I in the game anymore? Am I in people's consideration? It boils down to being an opportunity cost. The hope is that at some point people will like the food enough to come in and sit down."
  • In some cases, menus posted on mobile apps may be priced a bit higher to offset revenue-sharing with delivery partners, she says.
  • Restaurant stocks received a boost as the industry's same-store sales rose 1.5% in April, the best restaurant industry gain in 2-1/2 years, says Black Box Intelligence.
  • Millennials think about cuisine in global terms, says Warren Solochek, a restaurant industry analyst at NPD.
  • If something goes wrong with a delivery order, it's usually the restaurant that gets the blame, according to Consumer research firm NPD, not the likes of Grubhub (GRUB), Uber Eats, DoorDash or Postmates.
  • Wingstop is not the only national restaurant brand with good reason to be testing home delivery services. Also testing or charging ahead with food delivery services are McDonald's (MCD), Yum Brand's (YUM) Taco Bell and KFC, Chipotle Mexican Grill (CMG), Shake Shack (SHAK), Zoes Kitchen (ZOES), Panera Bread, Bloomin' Brands' (BLMN) Outback Steakhouse, and others.
  • While restaurants may test food delivery with a few service providers, they'll usually settle on one to ensure that the process runs smoothly, says Cowen's Champion.
  • The result had lifted the Retail-Restaurants industry group to a top 10 ranking at the start of May among the 197 industries tracked by IBD.
  • The big picture is that consumers buying goods at Amazon.com (AMZN) and other online businesses are doing less of the traditional brick-and-mortar shopping. That means they're also not stopping off to eat on the way home or getting takeout food.
  • "If you're turning a transaction into a less-profitable transaction, that isn't doing any good," said Bartlett, "but if it's a transaction you wouldn't have had in the first place, then it's a positive."
  • smones on 27 May 18
     
    This article discusses the increasing demand for e-commerce and third party delivery in the food and beverage industry, as well as the costs associated with it. Restaurants are currently facing a growth problem in the United States as foot traffic has declined due to a "millennial generation shift" that sees diners doing more in their homes, while third party companies like Grubhub have seen it's stock rise 141 percent from a year ago. For many restaurants, it is a matter of opportunity cost. As explained in this article by Warren Solocheck, a restaurant industry analyst at NPD, "We're going to see more and more quick-service chains begin to try out delivery," he said. "The margins associated with third-party delivery may be slimmed down. But, the question for restaurants is, 'If I don't do it and I'm not delivering my food, am I in the game anymore? Am I in people's consideration? It boils down to being an opportunity cost. The hope is that at some point people will like the food enough to come in and sit down." I found this article very interesting as a General Manager. We recently decided as a brand to begin offering delivery through third party services as we noticed a decline in covers leading to a decline in revenue. This new revenue stream, although at a higher cost, still brings in revenue that we would be missing out on either way. We also offer free appetizer cards for a consumer's next in house visit to help attract new guests.
rnobl005

Uber Eats Doubles Down on POS Integration with orderTalk Acquisition - 0 views

table.skift.com/...ion-with-ordertalk-acquisition

shared by rnobl005 on 23 Jun 18 - No Cached
  • Uber Eats Doubles Down on POS Integration with orderTalk Acquisition
    • rnobl005
      rnobl005 on 23 Jun 18
       
      Skift published this article about a month ago. It's a really interesting to see how POS technology is impacting new industries. In this case the focus is on Uber Eats. The company acquired a Dallas-based company called orderTalk, which specialized in POS integrations. Liz Meyerdirk, head of business development for Uber Eats, said that this move aligned with their strategy for two reasons. Integrating this technology reduces errors for the restaurants people are ordering from and improves the workflow at the restaurants themselves. orderTalk's software already works with 10 POS providers and most payment processing vendors, making it a valuable resource for Uber Eats to tab into. Ideally, Uber Eats will see operational improvements and increased profits as a result of the move.
  • technical integrations better manage restaurant workflow. Instead of requiring a middleman, orders are quickly fed to the kitchen display monitor or ticketing system.
    • rnobl005
      rnobl005 on 23 Jun 18
       
      Cutting down on the time it takes to start an order means a shorter delivery window. Uber Eats will build customer loyalty as a result of this action.
  • restaurants are asking for ways to reduce errors, and an employee manually entering orders from an Eats-connected iPad into the restaurant’s system leaves room for plenty of human error
    • rnobl005
      rnobl005 on 23 Jun 18
       
      Until reading this I didn't even realize that this is how my order went from my phone to the restaurant. I assumed my order went directly into the system.
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  • Uber Eats announced it has acquired orderTalk, a Dallas-based restaurant technology company with technology and expertise related to point of sale (POS) integrations, according to the company.
  • orderTalk, founded in 1998 and launched as a software as a service company in 2004,  integrates with more than 10 of the leading POS providers and most major payment processing vendors
  • Top Uber Eats competitor Grubhub already integrates with several leading point of sale systems, and CEO Matt Maloney has cited the company’s technology as a main reason it was able to land an exclusive partnership with Yum Brands’ KFC and Taco Bell restaurants.
    • rnobl005
      rnobl005 on 23 Jun 18
       
      Uber Eats has a similar relationship with specific McDonalds franchises across the US.
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