What is the Future of the Restaurant Industry? 3 Ways to Prepare

Future Of The Restaurant Industry January 11, 2023

Priyanka Bhadani

Writer

3 Ways to Prep for the Future of the Restaurant Industry

The post pandemic future of the restaurant industry is a hot topic in restaurant industry conversations. Restaurant future plans are discussed everywhere from National Restaurant Association press releases and industry experts posting on social media accounts.

As the world transitions into post pandemic life, the restaurant industry faces grim statistics. According to National Restaurant Association studies, over 120,000 United States restaurants are permanently closed. Additionally, the National Restaurant Association recognizes that over 5000,000 restaurants are in economic free fall.

National Restaurant Association surveys also concluded that 90% of full service restaurants recorded declines. The average revenue loss of these full service restaurants was 36%. Understandably, many restaurants feel precarious towards the post pandemic future. One thing is certain, restaurant business professionals must proactively take steps towards future proofing.

Understanding future restaurant predictions benefits restaurant owners from New York fine dining establishments to California ghost kitchen operations. Post pandemic futureproofing will help United States restaurant operators survive the next five years and beyond. 3 ways to prep for the future of the United States restaurant industry include-

1. Technology

Post pandemic restaurant future operations are highly dependent on increasing technology investments. Many restaurants already use technology in their daily operations. Delivery app online ordering and back house POS system software are a couple of examples of common restaurant business technologies. National Restaurant Association press releases and social media accounts of industry experts are increasingly discussing digital acceleration. As a result, restaurants need to increase digital offerings in order to survive and thrive.

Industry experts and the National Restaurant Association supply technological advice to many United States restaurant industry professionals. Consumer trends for ordering delivery and online ordering are showing no signs of declining. The customer experience is further addressed through strategic restaurant business loyalty programs and social media presence. Whether online ordering from dining rooms to POS system compatible QR codes, the post pandemic restaurant future depends on technology.

2. Delivery

The post pandemic restaurant business will likely have a heavy reliance on food delivery services. Third party delivery services have experienced massive success during the pandemic as was heavily documented by the National Restaurant Association. National Restaurant Association and industry expert research predict post pandemic consumer trends will extend third party food delivery service success.

National Restaurant Association and industry expert opinions also acknowledge the shortcomings of third party food delivery services. 84% of restaurant operators report third party delivery service fees so high that profits are not worth it. These third party delivery apps can swallow up to a shocking 30% of restaurant business profits. As a result, many United States food industry professionals are investigating alternative post pandemic delivery service options. Future restaurants may find that adopting their own food delivery techniques is worthwhile.

3. Wellbeing

The coronavirus pandemic demonstrated the sacredness of human life, with massive casualties in the United States and abroad. A powerful post pandemic reminder that restaurant industry professionals observed is how important wellbeing is. Undoubtedly, the hospitality industry is known for its fast pace. Fast pace and profits never justify ignoring the health and wellbeing of ourselves or others.

Future restaurants are likely to adopt wellbeing and wellness into their restaurant operations. The post pandemic future restaurant industry has an invaluable opportunity to redefine and revolutionize itself. From a co founder to back house drive thru staff, all food service professionals matter and deserve respect.

The drive thru window operators and third party delivery workers that worked through the pandemic are commonly called heroes. While many restaurant operators meaningfully acknowledged this, others did not. Empty verbal acknowledgement through social media or other performative statements is not nearly enough for current or future restaurant workers. The post pandemic future restaurant industry necessitates both action and tangible solutions.

Key Takeaways for Restaurant Industry Future

The uncertainty of the restaurant industry's future is an opportunity for transformation.
The future of the restaurant industry will likely involve increased technology and focus on food service employee wellbeing.