How Can Blockchain Help the Food Industry Survive?
Is it easy to break the restaurant business? A blockchain is a tool for food companies to have a quality business. You will get life hacks using the latest methods of customer implementation. Our tips not only help restaurants survive but also increase profits by 10 times.
Foodservice industry and COVID-19
Blockchain is a technology that is a way of storing and exchanging information online. All processes take place in an open virtual space. Blockchain promotes the development of cryptocurrency, as well as the comfort of users on the Internet.
Before the coronavirus, the food industry and restaurant business had made considerable progress. However, business models have changed significantly due to the coronavirus pandemic. Restaurants had to survive in the financial market by various methods. We had to face a new reality and look for the latest approach to a new generation of people — millennials and Zet. The increase in the number of restaurants in 2020–2021 is due to the possibility of more remote work. People began to store more information in mobile phones and cloud storage.
Traceability technologies provide important information very quickly so that people get what they need. Also, fewer people should be in the same room at one time. Fully mobile technology means staff work independently with hand-held devices, QR-code scanners, rather than meeting every day in the office from 9 am to 6 pm.
Large companies like Walmart are experimenting with blockchains, but standardized blockchains throughout the industry do not yet exist.
How new technologies boost the restaurant industry?
Every millennial and member of the Z generation has mobile phones. These consumers have grown up on the Internet, so the commitment to the best technology is obvious. To succeed in the eyes of a potential customer, improve your services with technical tools. Especially those most often used by people of the millennium and the Z generation. This means creating a mobile application, and in it, respectively, a mobile loyalty program.
Customers can check their progress. They are kept as if on a hunt. You can encourage their progress with personal push messages. Personalization is a top priority when it comes to loyalty to the millennials and the Z generation.
How COVID makes businesses adopt digital transformation
17% of restaurants closed at the beginning of quarantine in 2020. Businesses did not even try to survive during this period, people did not know what awaited them and what the financial losses would be. However, СOVID-19 did not lead to the total closure of the business. There are and remain useful quarantine habits: ordering online, delivery, pickup, adaptation of the menu for delivery, the general cult of purity. The total digitalization of the restaurant business opens the way to the future. The brave are always happy!
What helped restaurants stay afloat in quarantine? We eliminate the most important factors for the success of this business:
- priority of technologies;
- large investments in technology and cybersecurity;
- investment optimization;
- improving the experience of employees and customers in technology;
- digital transformation.
Read further on how blockchain technology is changing the foodservice industry following the link below:
