Online Ordering in the Food and Beverage Industry Revolution

Online Ordering and the F&B Industry Revolution

While initially a response to pandemic limitations, online ordering has become a cornerstone for global food and beverage (F&B) businesses. Driven by the convenience and safety it offered during COVID-19, it’s transitioned from a lifeline to a powerful profit generator in the post-pandemic era.

The numbers are undeniable: Nearly 30% of U.S. consumers order food digitally twice a week, and this market is projected to reach a staggering $500 billion by 2027.

So, don’t get left behind! Join us in this informative session and discover how online ordering can transform your F&B business. We’ll provide actionable insights and statistics facts. Get ready to feast on success!

The Rise of Online Ordering in Food and Beverage Industry

Revenue of the online food delivery market worldwide from 2017 to 2028(According to Statista)

The global online food delivery market is booming! In 2023, it reached a staggering over 390 billion U.S. dollars. Moreover, industry experts predict a meteoric rise  to $500 billion by 2027. 

The United States ranks second only to China, generating an estimated $76 billion in revenue in 2022. 

Estimated market value of online food sales in the United States between 2020 and 2027(According to Statista)

Online restaurant ordering in 2023 accounted for about 40% of total restaurant sales, just over $22.4 billion in 2021 according to Bloomberg. It has grown 300% faster than dine-in sales since 2014. 

In this era of culinary convenience, the numbers tell a story: A nation that’s embracing the future of dining, one online order at a time.

Online Ordering’s Customer Behavior through Numbers

Since 2021, the online food ordering volume has experienced an impressive 54% year-over-year increase! This figure highlights the growing appetite for online food and beverage options. Consequently, it suggests exciting opportunities for businesses in this thriving industry. 

Additionally, recent studies conducted by Forbes Magazine and other business experts have unveiled key insights into customer behavior in digital sales. In summary, discernible trends and noteworthy facts emerge from these findings:

Taking Online Orderings from restaurants:

A whopping 70% of U.S. consumers now prefer the ease and efficiency of online ordering directly from restaurants. As so, 30% of customers explicitly state that technology options, like online menus and delivery tracking, significantly increase their likelihood of ordering delivery.

Online Takeout Average Spent:

While 60% of consumer investment in online food reaches between $25 and $50, according to Statista, restaurant operators who have incorporated online delivery into their business models have reported a notable 17% increase in sales over the past year.

Digital Engagement:

Digital Engagement - online ordering

In the age of instant information, restaurant-goers consistently browse a restaurant’s menu beforehand, while an impressive 79% routinely explore the restaurant’s website. This underlines the pivotal role digital presence plays in shaping customer decisions.

Decision-Making Dynamics:

The restaurant’s ratings and scores are the linchpin. Actually, about 53.9 million people are estimated to have used online delivery apps in 2023, so this approach could be especially relevant.

Convenience Chronicles:

Customers revel in the ease of online ordering from the comfort of their homes, navigating menu options, customizing orders, and setting their own pace—all seamlessly facilitated through user-friendly apps or web ordering pages.

This data not only paints a vivid picture of current customer behavior but also highlights the pivotal role of digital engagement and convenience in shaping the F&B industry.

Online Ordering Technologies for Digital Selling

For F&B businesses, staying ahead means embracing new technologies like online ordering. An effective and optimized website with integrated online ordering is your gateway to attracting new customers and streamlining your sales process.

According to Fit Small Business, approximately 73% of small businesses now have a website. This represents an impressive increase from 2018 when only 50% did.

A website acts as a dynamic tool, incorporating delivery and online ordering services to diversify your operations. But don’t forget to smoothly connect your website with your POS system to a payment gateway for a seamless checkout experience. This powerful combination is your recipe for successful online sales.

iPos, a cloud-based POS solution tailored to the current needs of F&B business owners, includes a website with an online ordering feature in its software proposal. And guess what? It’s completely free of charge

So, don’t miss out on this opportunity!

Run your business with a Free POS System.
Find out how.

Online Orderings in Loyalty Programs: Enhancing Convenience

Online Orderings in Loyalty Programs

It’s interesting to know that customers who’ve ordered online are more likely to become loyal to restaurants than those who haven’t. According to a National Restaurant Association (NRA) study, 42% of Millennials are willing to pay to participate in a loyalty program that guarantees online reservations on busy days. Additionally, they appreciate discounts on specific items or offer skip-the-line privileges.

Therefore, a customer loyalty program is a great way to build long-term relationships with customers. It offers rewards and incentives to encourage repeat business and foster loyalty. These programs are structured in tiers, providing escalating benefits as customers engage with the business more frequently.

iPos Software provides all the tools needed to develop online ordering strategies, including loyalty programs. With our platform, businesses can create personalized rewards programs to cultivate customer loyalty. As so, it provides the possibility of taking advantage of data-driven marketing opportunities.

Then, focus on the benefits that the tools and the current context are providing. Reward loyal customers and boost sales with integrated online ordering & loyalty programs.

Data and Innovation in the Digital Era: The Ultimate Recipe

Online Ordering is also a treasure trove of restaurant data. Imagine understanding your customers’ preferences better than ever, predicting their next order, and boosting your profits by the biteful! That’s the power of online ordering data.

Each online order unlocks valuable insights:

  • Popular items: See what sells best, identify trends, and optimize your menu.
  • Ordering habits: Analyze peak times, average order value, and delivery preferences to improve operations.
  • Customer profiles: Uncover demographics, spending patterns, and loyalty to personalize marketing and promotions.

Turning data into dollars:

  • Targeted campaigns: Send promotions based on purchase history, enticing customers to return.
  • Inventory optimization: Predict demand and reduce food waste by ordering smarter.
  • Dynamic pricing: Set prices based on popularity and demand to maximize profits.
  • Personalized recommendations: Suggest relevant dishes based on past orders, driving customer satisfaction and spending.

By embracing online ordering and harnessing its data potential, restaurants can unlock a world of possibilities. It ends up turning satisfied customers into loyal fans and boosting their bottom line.

Enter iPOS, a comprehensive solution for businesses. It provides all the tech you need to undertake online ordering, loyalty programs, sales analytics, and digital promotion, all in one place. So, embrace the benefits of this free website seamlessly connected to your sales system and elevate your business with iPos. 

Final Pro Tip

As the culinary landscape undergoes a transformative evolution, restaurants find themselves at a crossroads—a delicate balancing act between tradition and technology. Business owners in the F&B industry need to understand the figures and trends of the market to see the benefits of new technologies.  

So here’s our final pro tip: Embrace the new digital era by integrating online ordering into your traditional brick-and-mortar eatery with iPos. Enjoy seamless operations! No headaches, just happy customers. Bon appétit!

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