In a business like restaurants where margin is handful, business like restaurants, every penny counts. With the evolution of smartphones and widespread reach of the Internet, the U.S. quick service restaurant (QSR) market has gained a remarkable momentum. This market is being greatly influenced by the changing nature of customer demands. Restaurant and foodservice providers are seeking IT solutions for their ordering on their online portals as well as for understanding customer analytics, consumer insights, ensure social monitoring, supply chain optimization, and store and restaurant operation.
According to a recent study by Transparency Market Research, the market for quick service restaurant IT in the U.S. is anticipated to reach a valuation of US$3.2 bn in 2016, and is projected to expand at a steady CAGR of 7.4% during the forecast period of 2016 to 2024. By the end of 2024, the market is projected to reach US$6.0 bn mark.
Competitive Pricing and Promotional Wars Surge as Foodservice Goes Digital
Social and digital media is now an integral part of urban population. Quick service restaurants have been prompt while acting on this trend to gain customers by increasing their presence on digital platforms. These platform also allows them to interact with a wide range of audiences, and marketing their brand-names. Furthermore, several customers now prefer QSRs with self-service options, for example kiosk systems are gaining popularity, as they reduce waiting time. As a result, the competition is surging, which has increased the number of promotional offers and reduced costs. The report estimates that as the QSR industry moves toward IT solutions, the demand for POS, handheld devices, kiosks, digital menu cards, signage systems, digital menu cards, and IT (data analytics, marketing, and front of house) will expand significantly.
In the coming years, several QSRs are expected to replace their outdated kiosks and signage systems, which, in turn will fuel the demand for hardware components. Additionally, up-gradation and introduction of new software to restructure daily business processes is expected to further fuel the market for quick service restaurant IT in the software and service segment.
Immense Capabilities of IT makes it a Necessity for QSRs
Customizable IT platform provides a seamless e-commerce experience that integrates orders with every aspect of quick service restaurants such as restaurant POS, kitchen management system, and enterprise system that tracks the sales and transactions. IT-enabled store support and helpdesk are can help the QSRs to maintain a smart, efficient, and smooth operations at lower costs while the restaurant themselves can remain focused on customer experience and revenue generation. IT managed services offer the aggressiveness that is necessary for a restaurant to globalize its operations. Point-of-sale (POS) services create a seamless guest experience with POS mobile and web enabling, and electronic gift cards. By optimizing back-of-house (BOH) system and processes like labor scheduling, inventory, and menu management, restaurant owners can increase their employee efficiency and engagements.
Browse the full U.S. Quick Service Restaurant IT Market report at:http://www.mrrse.com/us-quick-service-restaurant-it-market
With increasing disposable income among end users the restaurant business is thriving. However, to gain advantage over competitors, it is important for each QSR to reduce the chances of errors, which can be achieved via IT-enabled processes.