FFCC Virtual Inaugural Panel - Digital Transformation Strategy – Where to Begin? There was a time when digitalization was an option, but today it is a fundamental and urgent advance, so as to adapt to the ‘new normal’. Restaurants can no longer ignore the digital economy! It can help create a robust ecosystem within the business and build a flexible infrastructure. How can you successfully digitize your customer experience and integrate digital into your company culture?
An investor's perspective on the future of food retailChitra Narayanan - Editorial Consultant -The Hindu Business Line Bijou Kurien- Independent Director, Chairman RAI (Retailers Association of India)
NEW WORLD COLLOQUY: THE REMODELLING OF THE QSR INDUSTRY
BRAND BUILDING USING SUSTAINABLE PACKAGINGGiven the shift towards off-premise consumption of food, one of the most important interaction of the Customer with the restaurant will be through its packaging. Packaging will play an even more important role, both from a branding perspective, as well as the impact it has on the environment given the projected increase of single use plastics for delivery. This panel will discuss: - How packaging can be used as a marketing tool to enhance your brand - What sustainable options are available today and upcoming innovations - How to form strategic relationships with packaging vendors
NEW WORLD COLLOQUY: THE STORY OF AN ICONIC BRAND - HARRY'S INTERNATIONAL SINGAPORE
THIRD PARTY FOOD DELIVERY - IS THAT A BETTER OPTION?This may be the solution for several restaurants that lack the requisite infrastructure, but then delivery is not without its challenges, whether it’s meeting customer expectations, delivering on the brand promise, delivering in a timely manner, and providing an accurate and seamless ordering experience. Let’s put together the pros and cons to help you take the right decision.
PIVOTING TO CLOUD KITCHEN - NOW THAT'S THE BIG QUESTION!With the limitations on dine-in caused by the pandemic, restaurants are exploring expansion through cloud kitchens. Is it feasible for all types of restaurants? Does running a cloud kitchen model need different expertise and deep pockets? Is it actually all rosy on the other side? Let’s hear it from the experts.
THE ROLE OF WATER IN FOOD SERVICE SUSTAINABILITY STRATEGY VIS-A-VIS HYGIENE, CONSERVATION & COST
THE TRUST BAROMETER – BUILDING THE CUSTOMERS TRUSTRestaurants have been learning how to manage strict new cleaning and safety procedures, as directed by the Government. However to make it through this pandemic intact, you must reassure your two primary audiences – your employees and guests – that your restaurant is safe. Creating a workplace that prioritizes a safe culture can be reassuring to your employee. But how can you take steps to boost customer trust and loyalty, in a ways to make them believe!
Reinventing back of house using tech
New age cloud aggregators - The next level in the game!
Preparing a comeback plan for restaurantsFour out of every ten restaurants will likely be permanently shuttered in the undergoing Covid-19 crisis and the broader impact will be even more severe in an industry that, pre-lockdown, had a turnover of Rs 4 lakh crore and provided direct employment to over 7 million. Adding to these grim estimates from the National Restaurant Association of India is the nearly 70% fall in food delivery business. And, still worse, dining out or ordering in will take very long to recover post-lockdown, analysts say, as consumer discretionary spending will be low amidst salary and job cuts. It is expected that food delivery alone will take at least a year to come back to pre-lockdown levels, and even longer in smaller towns and cities. A survey conducted by the firm showed that wallet share for dine-in restaurants will decrease sharply, as per 68% of respondents. But as stories of restaurateurs shutting outlets pile up, at least some brands and entrepreneurs are trying to reinvent—launching packaged foods, delivering DIY (Do it yourself) meal kits, re-engineering menus, and delivery processes. As these brands and entrepreneurs are staging a comeback, it is very vital to understand the strategy as the industry will be on the leading edge of safe local economic recovery.
Enhancing quality control systems and hygiene - How to go about it & budget for it?Questions like 'How to run a restaurant' or 'How to reopen a cafè in a pandemic', were never part of the manual. When it first began, nobody believed it could get this bad. Slowly, the mood turned from disbelief to somber. And then the shutdowns occurred. Restaurants, bars, nightclubs, fast food chains - decided to bring operations to a halt, in the collective interest of their staff and patrons. Hopefully, the worst is behind us, and there is talk about re-opening. With thousands of jobs and crores of investments on the line, that is something worth putting all our attention and efforts into. The diner is key to this re-opening phase. Even if only delivery-modules work, in the beginning, the only way, the diner is coming back if s/she is assured of enhanced hygiene standards, both in the kitchen and dining areas. Innovative restaurateurs and fast food brands are looking into this very, very carefully. Perhaps a template can be created to be followed by all. Here's a conversation to start it off.
In a free enterprise, the community is not just another stakeholder in business, but is in fact the very purpose of its existence.” JRD Tata The community of consumers that we serve & communicate with, to build sales is going through a journey that has never been experienced before and will result in a lasting change in consumption motivators driven by changing behaviour. Understanding this change in Consumer Behaviour is the first step in setting marketing & communication plans backed with strong restaurant operations that will help us get back to growing at a faster pace. Let’s look at the six key consumer behaviour threshold levels that tie directly to concerns around the novel coronavirus (COVID-19) outbreak. Correlating COVID-19 news events, such as public health announcements and government press conferences with consumer spending on items such as hand sanitizers and shelf-stable foods, reveals a series of recurring patterns. These patterns (though still evolving), help provide a set of leading indicators
Masterclass on thinking like an investor and following principles of theory of elimination, exhibiting business moat, potential to exit the business, minimum IRR expectations, sensitivity scenario etc.