According to BI Intelligence, by 2020, almost 11% of all sales at quick-serve restaurants will come from online ordering, with McKinsey predicting the food ordering market to reach a value of $83 billion by then.
Restaurants generate a lucrative revenue by introducing the option of online ordering. According to Deloitte, customers spend around 20% more when they place an order through their mobile phone and this proves to be advantageous for restaurants. And if you’re a restaurant owner, there is no way you can choose to ignore such a great opportunity.
Aggregators provide access to a large number of restaurants through a single online portal and this is extremely beneficial in those countries where millions of people order online. One such example of an Aggregator is UberEats. The company expanded its services globally. Customers can easily log onto their application, browse through the menu, view the prices, check for any discount available and read the reviews left by other people who ordered that particular food. Due to the fact that UberEats provides so many options to restaurants, they collect a fixed margin of the order from them. At the same time, as a restaurant, you have to know that you might even find your competitors on the platform. What does that mean? Customers can view their menus and discounts too. The other disadvantages of aggregators is the lack of analytics, customer insights and the high cost of listing.
This is one of the alternatives to aggregators and allows restaurants to process food orders and collect basic customer analytics and behavior. Restaurants provide their customers with an application or their website to choose their food, ahead of going to a restaurant, which proves to be time saving. But some of the disadvantages of this is that such a technology only provides basic analytics and loyalty programs which doesn’t seem to be very helpful for restaurants.
Using a customer engagement solution such as Wefee1 is another option for restaurants. It is a comprehensive customer engagement tool that includes POS integration that includes the facility of online ordering, customer insights and detailed analytics, etc. Wefee1 specializes in this area and works on the basis of fixed-rate fees unlike aggregators. Everytime a customer purchases a product, their data is logged into the system. This data is fully owned by your business for the purpose of implementing marketing strategies, unique customer omnichannel experiences, offer message personalization, good integration with loyalty programs, strong analytics, etc.
Clearly, online ordering adds a lot of value to your restaurant, in numerous ways. In order to get started, facilitate online ordering via an end-to-end platform like Wefee1. The key to making the most out of this technology is to integrate it with other areas of your business, making it work in a way that leaves the customers – happy, satisfied, and ready to return. Are you ready to implement an online ordering system to boost restaurants’ sales and streamline operations?
Request a demo with Wefee1 to get started.