IHOP Fast-Casual brand; Chipotle customization
Four months after announcing the resumption of its launch plans for its fast-paced casual brand flip’d, IHOP opened the doors of the chain’s first branch in Lawrence, Kansas on Tuesday, September 28.
Read more: IHOP Relaunches Quick-Relaxed Spin-Off After Pandemic Delay
“Flip’d by IHOP is designed to serve our customers the food they love in a quick and relaxed setting, and technology is playing an important role in this new restaurant to make the experience easier for take out and take out occasions. outside, “an IHOP spokesperson told PYMNTS in an email. “A number of our menu items are designed for portability and convenience, including our burritos, bowls, pancake bowls, burgers and more. “
The restaurant is more travel-centric than IHOP’s usual table service model, although there is seating in the dining room available for patrons who wish to dine on-site. The Bring-It-To-Me Economy PYMNTS research, created in collaboration with Fiserv’s Carat, reveals that consumers are now 31% more likely to eat their restaurant orders at home than they are at dinner at the restaurant.
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“Different from a traditional IHOP, customers can order through digital kiosks in the restaurant, and our location in Lawrence has a mobile / online order pickup window, making convenience a priority when preparing food. take out, ”the spokesperson said.
Results from the PYMNTS Restaurant Readiness Index, created in partnership with Paytronix, indicate that consumers are slow to engage with kiosks, with just 3% of the 25,000 consumers surveyed saying self-service kiosks would increase their spending. The report also found that restaurant managers see self-service kiosks as more essential to the long-term success of restaurants than consumers, with 28% of the former versus 19% of the latter indicating they think the feature will be important. for restaurants. ‘future success.
See Also: Late Investing in QSR Loyalty and Reward Hurts Innovation and Sales
Chipotle adds in-app food preference filters
Chipotle announced Wednesday (September 29) that it is adding a range of nutritional filters to its app, allowing consumers to see which ingredients are right for their diet. Filters include options for popular diets, such as plant-based, keto, and Whole30 diets, as well as for common allergens such as dairy and soy.
“Our real ingredients and the versatility of our menu have always responded to customers who put health and wellness first,” Chris Brandt, chief marketing officer, said in a statement. “Now, with just a few clicks, fans can make more informed decisions about the ingredients they feature in their Chipotle custom orders and can easily find delicious options to suit any lifestyle. “
The app can also save food preferences for future orders. The move comes as many brands look for ways to customize their digital platforms based on consumer needs and preferences, taking into account past order data as well as information about similar customers to display the most relevant messages and recommendations. relevant.
“We’re working to add a layer of personalized user experience on top of customer data,” Jane McPherson, senior vice president of marketing for fast food chain Capriotti’s Sandwich Shop, told PYMNTS in an interview for the edition. September / October from PYMNTS. Order report to eat. “Restaurant brands will likely start using more customer database platforms [whereby] all their customer data is [on] one platform, then omnichannel marketing sits on top of that customer database platform.
Transformed by digital control, the first watch goes public at $ 18 per share
First Watch, a breakfast and lunch restaurant chain with more than 400 establishments in 29 states, announced Thursday, September 30, that it is pricing its initial public offering (IPO) at $ 18 per share, with 9,459,000 shares, for a total of over $ 170 million.
The company went public on Friday October 1 under the ticker symbol FWRG, intending to use the proceeds to pay off its outstanding debt. The restaurant has become increasingly digital since the start of the pandemic, bolstering the capabilities of its app with increased offsite options. This change changed the business model, allowing it to meet the needs of consumers more hours of the day.
“Consumers want the ability to order what they want and when they want, regardless of traditional time slot conventions,” the company’s filing with the Securities and Exchange Commission (SEC) said ahead of its release. Initial Public Offering. “Increasingly busy schedules, the rise of the ‘concert’ economy, flexible work schedules and the growth of remote workers, trends amplified by the COVID-19 pandemic, are fueling demand for offers from Convenient, fast and flexible daytime catering from us all day. menu.”
Related news: Capriotti’s on leveraging digital tools, data analytics to build customer loyalty
National association of restaurateurs: the recovery is reversed
After a wave of optimism in the first months of the vaccine rollout, restaurants are once again facing a difficult landscape. The National Restaurant Association, the trade association representing more than 500,000 restaurant companies, announced on Wednesday (September 29) the results of its September economic impact survey of 4,000 restaurant owners.
The report found that more than half (63%) of restaurants are performing below pre-pandemic levels, and almost all restaurants pay more for food and labor.
“Our nation’s restaurant recovery is officially in reverse,” said Sean Kennedy, executive vice president of public affairs for the National Restaurant Association, in a statement. “The lingering effects of the delta variant are further drag for an industry struggling with rising costs and falling revenues.”
The most recent US Census Bureau report, which includes data through August 2021, finds restaurant sales held steady in August after months of increases. These figures have not shown a significant drop in sales since February.