Qu Releases 4th Annual State of Digital Report for Quick Service & Fast Casual Restaurants

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Qu , the responsible restaurant tech company focused solely on driving innovations in the Quick Serve and Fast Casual segments, has released its fourth consecutive State of Digital Report with market trends and findings from the largest multi-brand, multi-unit operators.

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Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Tuesday, March 7, 2023
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Software, Restaurant, Bar, Other Retail, Hardware, Data Management, Apps, Applications, Technology, Food, Beverage, Artificial Intelligence, Retail, Marketing, Communications, Other Technology, Online, Cloud, Robotics, Digital, News, Platform, Machine learning, Growth, QSR, Human voice, CXO, Multimedia, Fast casual restaurant, Human, Data collection, Cryptocurrency
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UNITED STATES, NORTH AMERICA, MARYLAND
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QU
Summary
Key Points: 
  • Qu , the responsible restaurant tech company focused solely on driving innovations in the Quick Serve and Fast Casual segments, has released its fourth consecutive State of Digital Report with market trends and findings from the largest multi-brand, multi-unit operators.
  • This report summarizes the data reported, including investment priorities, top innovations, and critical business challenges they’re aiming to solve.
  • Off-prem digital growth spikes are cooling down and settling into a more predictable pattern for QSR and fast casual brands.
  • QSRs expect stronger digital growth in 2023 than their Fast Casual counterparts.


Qu, the responsible restaurant tech company focused solely on driving innovations in the Quick Serve and Fast Casual segments, has released its fourth consecutive State of Digital Report with market trends and findings from the largest multi-brand, multi-unit operators.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230307005233/en/

Qu heard from CXOs at 85+ brands representing over 35,000 locations about their key priorities and initiatives for the next two years. This report summarizes the data reported, including investment priorities, top innovations, and critical business challenges they’re aiming to solve. (Photo: Business Wire)

Qu heard from CXOs at 85+ brands representing over 35,000 locations about their key priorities and initiatives for the next two years. This report summarizes the data reported, including investment priorities, top innovations, and critical business challenges they’re aiming to solve. (Photo: Business Wire)

The top findings in the report center around 8 key trends enterprise brands can expect to see in the next 12-24 months—including investment priorities, top innovations, critical business challenges, and digital sales patterns.

Noteworthy trends center around good news enterprise operators can expect—such as more predictable digital sales percentages—and tech solutions restaurant CxOs will invest in to create more consistent, efficient experiences for both guests and employees.

  • Off-prem digital growth spikes are cooling down and settling into a more predictable pattern for QSR and fast casual brands. Digital sales growth will continue in 2023 and 2024, but at a more predictable rate. Average digital sales are 25% for the largest category of brands; with prior year top performers (50%+ from digital sales) continuing to stay above that impressive threshold. QSRs expect stronger digital growth in 2023 than their Fast Casual counterparts.
  • Tech proliferation has generated a new trend towards platforming - 50% of operators reported they’ll make the move to a unified ordering system in the next 2 years. Improved data capture, integrations/APIs, and internal efficiencies were cited as top reasons for unified ordering systems and solutions.


    “This does not mean one size fits all or a shift to one system for front and back of house,” said CEO Amir Hudda. “We want to give operators a choice and provide a platform that helps them reduce the complexities and inefficiencies associated with multiple ordering systems.”
  • Order inaccuracy is the biggest problem plaguing the off-prem guest experience, with 15-20% lower satisfaction rates reported by guests. 65% of operators are looking to solve inaccuracies with unified fulfillment systems and processes, using both AI and updated systems that drive labor efficiencies and improve accuracy.
  • Technology investment priorities are shifting. Online ordering, which ranked as a top investment area for the previous 3 years, dropped down to the fourth investment priority, following Cloud POS, Platforms, and Mobile/Loyalty solutions. This signals healthy evolution and maturation for brands who’ve already solved for online ordering and again points to the new focus on more unified systems and data collection. Only 7% of brands said they can easily extract and use data to drive decisions.
  • AI & Machine Learning sailed to the top of the innovations priority list with 70% of operators citing they’ll use it this year to increase efficiency, automated processes, profitability, and data collection/intelligence. In 2022, only 13% of operators selected AI/ML as a priority. After AI/ML this year, participants noted Robotics and Voice as other top innovation areas they’ll pursue.

“It’s exciting to see large enterprise brands prioritizing upgrades to their foundational technology with a move to a true Cloud POS architecture”, said Amir Hudda. “Our multi-year investments in Unified Commerce, Edge Computing and AI/ML- driven products (Notify) are proving to be key components for enterprises looking to adopt modern technology.”

Get your free copy of the complete report here.

Listen to Danny Klein’s interview with Qu’s CMO Jen Kern about the report results on the QSR Uncut podcast.

About Qu

Qu is the restaurant technology company evolving POS, responsibly, for a more sustainable future. With the industry’s first unified commerce platform, Qu’s fully integrated products go beyond fragmented omni-channel ordering to create healthier connections for restaurant operating teams and their many stakeholders.

Focused on enterprise quick service (QSR) and fast-casual chains, our mission is to infuse speed, agility, and innovation into restaurant chains, enabling operators to seize new opportunities and improve profit margins - one order at a time. Above all else, Qu prides itself on transparent, responsible partnerships rooted in financial and moral stewardship for the restaurant industry.

Based in Bethesda, MD, Qu is backed by leading restaurant entrepreneurs and investors that have also backed Google, Salesforce, Uber, and Dropbox. Visit www.qubeyond.com.

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