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Restaurant Talk 12

Posted on 11/02/2022

Welcome to the first Restaurant Talk of 2022, in this month’s edition we take a look at how technology is impacting the hospitality business. Whether it’s NFTs, Bitcoin or Mark Zuckerburg and the Metaverse, developments in tech regularly dominate the news these days, but how are restaurants capitalising on these trends to get ahead of the competition?

Maccies joins the Metaverse

Mcdonald's have signalled their intention to set up shop in the Metaverse. The brand has filed trademarks to launch virtual restaurants within which you will be able to order food, both in real life and digitally. Alongside a number of significant global brands, McDonald's believe having a presence in the Meta owned virtual world could be key in the future of online marketing. It's not yet clear which meals will be on offer in digital format but they are all expected to be calorie-free, the real question is though, will they stop serving breakfast at 10.30am in the Metaverse too?

NFTs

Non Fungible Tokens (NFTs) are making a big splash in the art world, generating massive profits and ever spiralling price tags. The concept uses Blockchain technology to assign a non-replicable code to a digital artwork so that it can only be legitimately replicated a pre-determined number of times. That might mean an image could have only one owner, or a limited edition of 1,000 for example. In the US Burger King have been selling meals with QR codes that link through to NFTs which can be collected like vouchers to unlock more NFTs and then prizes and offers.

Augmented reality

The best way to describe Augmented Reality (AR) is to say it's where the real and digital worlds meet in the middle. Most likely your customers would access this environment by using their mobile phone, where they could view a digital menu as if it was placed on the table in front of them, or discover more information about their food once it has arrived, perhaps by scanning a QR code. If used correctly, AR can make your digital content really come to life and enhance the experience of your customers. Jack Daniels use AR to make their packaging come to life in a really magical way and use the technology to tell a story about their brand.

Cryptocurrency

A whole host of online and offline businesses now accept payment in Bitcoin, Ethereum and other forms of cryptocurrency- and that includes restaurants. Price volatility in these currencies means that using them can be a risky business and, whilst they are certainly now in the mainstream, it's difficult to imagine there are many consumers who would only hold crypto and be unable to pay with conventional currency. So why take Bitcoin? The main reason at this point in time would probably be as a marketing exercise to make your brand identity look technologically up to date, but that will no doubt change in the years to come.

Could you use the digital technology to win new trade or enhance the experience of your customers?

 

We hope you enjoyed this month's Restaurant Talk, if you've not subscribed to our newsletter yet please enter your email address below. Also, if you haven't read our Food Trends Report for 2022 yet then please do have a look, it's full of brilliant insight to help you stay ahead of the game!