Current Trends and Challenges to Watch Out for in the Fast Food Industry
Looking back, there has been a drastic change in the food-habits people have been following around the globe over the years. With the dawn of the fast food revolution, pizzas and burgers have been ruling the taste buds of people around the world. However, this trend took a ‘U-turn’ back to healthy eating habits because of […]READ MORE >>
Looking back, there has been a drastic change in the food-habits people have been following around the globe over the years. With the dawn of the fast food revolution, pizzas and burgers have been ruling the taste buds of people around the world. However, this trend took a ‘U-turn’ back to healthy eating habits because of the growing health concerns and increasing popularity of healthy food among consumers. But this drastic change has not taken a severe toll on the fast food industry yet. Globally, the fast food industry generates revenues of over a whopping $570 billion – which is higher than the economic value of most countries. According to Technavio’s report on global quick service restaurant market 2016-2020, the global quick-service restaurants market is expected to grow at a CAGR of almost 4 % during the period. Join us as we explore some of the latest trends and challenges in the fast food industry:
Fast Food Industry Trends
With increasing competition in the fast food industry, innovation and change have become inevitable to keep your customer base in place. The players in the fast food industry are continuously experimenting with new techniques, which will help them to attract potential customers and simultaneously maintain the loyalty of existing ones. Below are some of the trends that are influencing companies in the fast food industry:
- Speedier payment methods – The idea of reducing the wait-time in service was one of the primary drivers that led to the birth of the fast food Brands operating in the fast food industry are trying to formulate new ways in which they can make transactions faster and easier. Several companies have formulated methods and apps by which customers can now directly pay through their phones by enabling quicker transactions.
- Revamped menu cards – The tug of war between the demand for healthy food and tasty, indulgent ones are forcing players in the fast food industry to add a pinch of nutritional touch to their products. The whole idea is to prevent the loss of customers due to their inclination towards healthy food habits.
- Automation in fast food – Several popular food chains such as McDonald’s have already introduced automation through self-order kiosks in their outlets to make the food ordering process simpler and quicker. Automation in the fast food industry will reduce the risk of order errors and also reduce the wait time for customers.
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