Skip to main content

Smart Food Court - the next phase

I have summarized the blog for you. Of course, you are invited to read the story and share your feedback. 

Summary

The blog indicates a new technology based phase in the hospitality industry format's and why large locations would be in a more advantageous position to embrace that. 

The Blog

Technology is the new frontier to bring amazing number of changes in the hospitality industry. The one prominent place, tech is really driving a change is in the area of Food courts. 

The Birth 

Smart or tech-driven Food courts started with the concern that a lot of people in institutions were not getting the food that they wanted and it was turning into a real concern for students and corporations alike. It also came into realisation that a lot of institutions were facing challenges in their cafeterias as they were run by local unorganized vendors, and there were issues in terms of quality and hygiene, especially during the pandemic. Colleges and workplaces in particular were often limited by having just one particular vendor at their canteens and food spaces, which often led to limited menus and nonoptimized ordering processes.

Across the country, food courts were operating in a tried and tested manner, and were often limited by the services they could provide. This often led to a significant amount of wastages, long queues, and an overall limited experience for those who wanted to sit and have a good meal at food courts.

The institutional and corporate catering is not the same now, independent vendors are leaving and a better, more organised space is being created by tech driven food units.And gradually the change seeping through into retail services.

The Evolution

Smart food courts is about reinventing conventional institutional food courts by pioneering tech-enabled processes in cafeterias across institutions.

It is about transforming the traditional canteen experience into one that was inspired by technology and driven by excellence.

It's about bringing a more organized cafeteria management structure to these institutions.

In a way, the pandemic spearheaded the digital transformation of traditional food courts into tech-driven ‘smart’.  

Post covid, the change in customer buying habits and safety and hygiene standards led to a rise in demand for professional players in the space.

The pandemic also led to more extensive use of digital payments, allowing forward looking hospitality brands like Isthara to be able to implement a system of contactless payments. It made it easy for customers to get their daily meals at the food courts by easily browsing through (e)menus and making payments for their dishes, all the while away from direct people contact.

The unorganized cafeterias, which has been a pain point for educational institutions and workplaces since the pandemic, is today a unique proposition due to the unique SOP driven food-tech platform introduced through smart food courts.  

The Accomplishments

The aim of smart food courts is to provide customers with a tech-centric culinary ecosystem where patrons can interact with menus, delivery services, among others. It is also to implement tech solutions across the quality control processes, and use tech solutions and tracking to ensure that the quality of food is maintained across the system.

Smart food courts also integrate mobile applications to process customer orders and a well-designed POS system to note down orders of customers visiting their food courts.

For vendors, the tech here provides them with vendor interfaces, stock management solutions, menu management solutions, machine monitoring, delivery management and many more quality-of-life features that are not prevalent in traditional food courts. 

Additionally the whole ecosystem allows the revenue team to provide insights to vendors and institutions management teams on business trends/ revenue in food courts, and SKU level information for better management and demand analysis.

Through the technology, professional food court companies have been able to gather valuable information on their customers and emerging food trends, which has in turn helped vendors create menus that are more refined and in keeping with customer demands. This technology also provides vendors with data that can help them identify unique dining patterns and preferences, thereby enhancing the overall dining experience and improving sales.

The use of technology in such an extensive form allows the curation of food experiences based on demographics of the institutions by bringing together multi culinary curated vendors. Multiple vendors are brought together and each vendor gets enough space to have their own set-up. The multi-vendor format ensures that each vendor delivers the best quality food to ensure they attract customers.

The Growth 

And with the unique adaptability of our industry operators, prominent firms have moved into the field offering and operating Smart food courts in commercial spaces such as malls, hospitals, etc. Some examples include:

  • EatSure Food court: India's first, located in Erandwane and now also in Jammu, allowing unified ordering from multiple brands.

  • SmartQ (Various locations): Operates tech-driven spaces in malls, tech parks, hospitals, and universities.

  • Isthara: Focuses on upgrading institutional and corporate cafeterias with tech-enabled, hygienic processes.

These modernized, tech-enabled spaces are rapidly replacing traditional cafeterias to meet the demand for convenience and safety. 

With over 50 food courts currently operational in India, it is safe to say that the response to the concept of smart food courts is positive, and is set to transform the entire food court industry.

And with this, I also see a continual growth of the “Smart Restaurants”. In fact, as we talk today, changes are happening at an incredibly fast pace in larger urban markets and i predict that within a few years, it will percolate to every city and town professional establishment.

Undoubtedly there's an immense amount of potential for a new tech-inclusion and the benefits it explores and offers.

The hospitality industry is ever growing, and I expect the food court industry to also grow in a similar trajectory. Let's enjoy the ride. 

Comments

Popular posts from this blog

Theobroma's acquisition

A journey of two decades by two sisters, 30 cities, 194 stores and a projected revenue of ₹. 520 - 550 crores for FY25 with an EBITDA of around 20%. And in the end we have a deal of ₹ 2410 crores for 90% equity.   The Deal  ChrysCapital is set to acquire a 90 per cent stake in Theobroma for approximately ₹2,410 crore. The deal involves purchasing shares from both the company’s promoters and current investor ICICI Venture {ICICI Venture, which invested around  ₹.120 crores in Theobroma in 2017, currently owning close to 46 per cent of the company. The current deal will result in its full exit from the business.}. However, the founding family is expected to retain a 10 per cent stake post-transaction.   Three private equity firms — Aqua Investments Ltd, Infinity Partners, and Atreides Investments BV — have approached the Competition Commission of India (CCI) to acquire a stake in Mumbai-based bakery chain Theobroma Foods. Infinity Partners and Atreides Invest...

Rebranding your Restaurant

I have summarized the blog for you. Of course, you are invited to read the story and share your feedback.  Summary The blog discusses the rebranding of a business as to why it is important to look at, and what factors to look into. I then list a number of indicators that maybe it is time. And in the same breath I urge you to be careful of your reasons. I advocate that you should change but only with the right reasons.  The Blog All restaurants experience change. It is the one constant in the universe. No matter how fresh it looked when you built it or maybe got it; as time passes, everything ages. The decision to rebrand your restaurant is never an easy one to make. There are emotions involved around what you’ve created and how much time, effort, and money it has cost you. But in reality, markets and technology are always advancing, developing, and morphing into the next new thing. Embracing change is the only way to stay relevant and connected within the world of branding and...

The path to Profitability

The blog is basically a summarized version of my understanding of my work.  A Restaurant is an EXPERIENCE; a 'third place' away from home and work, where your customer is not just for food or drinks. My understanding of Profit Profit is the result of solid planning, sound management, and careful decision making. As a Restaurant business operator, I want you to make informed decisions with regard to managing your operation’s revenue and expenses. And with the correct tools that I use and support your business with, the potential for achieving profits you desire could be greatly enhanced. In fact, careful planning is a necessary basic to earn a respectable profit from the business. I believe that profit is a reward for providing service, not a leftover. Revenue (-) Desired Profit (=) Ideal Expense It is my belief at that every Restaurant should work with the following profit-oriented formula: Revenue (-) Expenses (=) Profit Profit should not be viewed as what is left over after t...