With the latest advancements in technology, one can be assured that “dining” and “entertainment” are not mere words anymore—they hold the promise of a delightful experience that soothes the senses. Ongoing research provides data that nourishment impacts shopping mall too, in light of the fact that time spent on food is more instead of spending at things.
Over time, even a simple night out at an eatery with family or companions has altered to include several diverse activities. Recent research demonstrates that in the past 30 years, the time devoted to encounters have increased by 70 percent, and almost 80 percent of millennials would choose to spend money on an experience over an object. A combination of dining and other experiences (art, sports, games, and concerts) through virtual and augmented reality can be expected in time.
The farmer’s market, farm-to-table restaurant, or a fresh food-conscious chain can find available sources and production across the food supply chain. Apparently, one-third of the food available for human utilization is squandered; the negative effect of waste in the food industry can be reduced by interfacing with brands that have social and environmental value.
Market initiatives at eateries are expected to encourage social media engagement as chefs serve up Instagram-worthy dishes. Social media can provide an opportunity for an individual to be as a food critic to deliver self-expression about food.
Technological innovations have reduced the pain points and unmet demands of individuals, which leads to an expectation for more from the food industry. Restaurant technology can now be expected to provide additional facilities like driver access, short-term parking, and delivery-specific menus with which the meal delivery service market is expected to grow by 15 percent per by 2020.
While big data technology has little influence on the current food industry, it is expected to develop in the coming era in new ways. As with all other retail components, having a better understanding of the customer in the food service industry will also be of paramount importance.