Today in restaurant and grocery tech news, Kroger’s meal solutions business passes $1 billion in annual revenues, and Burger King’s shift to digital coupons risks alienating some of its most loyal customers. Plus, Charles Gray, chief revenue officer of Paytronix, discusses how restaurants are learning from eCommerce companies.
Today’s Restaurants Take Cues From eCommerce
Charles Gray, chief revenue officer of Paytronix, explores how restaurants have been transformed since the pandemic to function more like eCommerce companies.
Burger King’s Paper Coupon Problem Pits 20% of Loyal Customers Against Digitization Push
Burger King’s push to get consumers on board with its digital offerings could be alienating a huge portion of its most long-standing fans. As the chain eliminates the use of paper coupons to incentivize consumers to adopt its digital channels, Burger King may risk losing the loyalty of 21% of its customers.
As Restaurant Prices Rise, Consumers May Give Grocery Stores a Second Look
Restaurants and grocery stores are on a bit of a collision course when it comes to consumer spending, as customers weigh supermarket markups against the skyrocketing costs of restaurant fare. As the recovery and supply chain-driven inflation adjustments play out, it would appear that the more rapidly rising restaurant price increases could flip the script against restaurants and hand grocers a cost advantage — at least in theory.
Kroger’s Home Chef Sales Soar as Consumers Seek Alternative to Increasingly Costly Restaurant Delivery
Consumers increasingly expect simple, convenient ways to meet their food needs, but most are not willing to bear the cost of on-demand restaurant delivery every day. On Monday (Oct. 25), grocery giant Kroger announced that its Home Chef brand, which provides meal kits and heat-and-eat meals, has exceeded $1 billion in annual sales.
Next-Gen Food Carts Gear Up to Take Over City Streets
Even with non-traditional restaurant concepts on the rise, technological hurdles are keeping mobile formats from experiencing the boom one might expect. Vinay Menda, co-founder of small-format specialty coffee company Blank Street, tells PYMNTS how rapid advances in battery technology are bringing street carts into the 2020s.
