Innovation and technology to help restaurants increase profitability, ET Retail

Changing consumer preferences are forcing the restaurant industry to innovate to increase profitability. At the Great India Retail Summit 2024, industry stalwarts discussed the fascinating theme of ‘Savoring Success: Tackle Challenges and Grow Profits as F&B Brands Evolve into Popular Gourmet Spots’.

At the beginning of the panel discussion, Amit Bagga, Co-Founder Daryaganj highlighted how consumer preferences are changing.

“Recently, consumers are preferring fresh and organic foods over processed foods, and our delivery business has also improved since COVID-19. Delivery still accounts for 24% of our sales,” he said. “It’s contributing. But at the same time, dine-in is also growing.” Because people want to be outside. ”

Adding to this, Prashant Isar, Director, Verona Hospitality Services, says, “To run a successful business, restaurant owners need to know their products, their customers, and their employees. The most important element is to always make our customers feel welcome.” Laughter. “

Highlighting the importance of staff training, Mr. Siddhant Kamath, Director, Kamaths Ourtimes Icecreams Pvt Ltd (Natural Ice Creams) said, To enjoy success, restaurants must be consistent and satisfy their customers by following SOPs. ”

Sharing his thoughts on adopting sustainable practices, Biggie’s Burger co-founder Viraja Root said, “Right now, brands that don’t have sustainability as a core principle of their company can’t grow. “Because they will be driven out only by consumers.”

“Apart from this, reduce costs by adopting the right technology and perform gamification on the front end where consumers spend more time or come back to increase ticket size. This allows us to further increase profitability,” he further added.

Mahesh Reddy, CEO of GOPIZZA, highlighted the use of technology and said, “We are a food technology company and we leverage AI and robotics. “Staff can be increased, which opens up even more opportunities for scale.” For restaurants to survive in the long term, they must adopt technology and innovate. is required.”