Technology innovations disrupt restaurant industry
Food delivery service providers and innovations in technology have caused tectonic shifts in the industry and restaurant operators are finding that they must respond to these disruptive forces or risk losing relevancy in the changing landscape, according to Capstone Headwaters in its Q4 Restaurants Mergers & Acquisitions (M&A) Report, Disruptions in the Foodservice Industry.
As consumers gravitate toward convenient on-the-go and at-home meal options, demand for delivery has skyrocketed.
In 2019, consumers reported that nearly 60 percent of their restaurant meals were off-premise, with younger diners (those 18-to-34-years-old) reporting the highest offsite consumption. Technology has made capturing changing consumer trends more attainable through tracking and data analytics, while also optimizing efficiency amid a historically tight labor market.
The report discusses the dynamics driving industry activity, highlights key disruptive forces, and includes examples of how operators are responding to stay abreast of change, including the use of mergers and acquisitions.
To read the full report, click here.