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The National Restaurant Association Show is a cornerstone event for the food service industry, bringing together leaders, innovators, and experts to discuss the latest trends and insights. This year, Lula Convenience had the privilege of participating, and we walked away with valuable learnings that we're excited to share with you.
One of the most striking insights from the conference was the current and projected growth of digital order sales. Currently, around 20% of restaurant and retail orders are made through digital platforms. However, experts predict that this figure will grow 2-3 times over the next ten years. This trend underscores the increasing importance of online and delivery services in retail and food service businesses.
Retailers that are proactive in enhancing their online ordering systems, streamlining delivery processes, and integrating new technologies will be best positioned to capitalize on this growth. Now is the time to invest in robust digital platforms and ensure that your store is ready to meet the demands of a digitally-savvy customer base.
Another key takeaway is the frequency with which consumers are placing orders. An impressive 61% of people now place an online order at least once a week. This statistic highlights the shift in consumer behavior towards more frequent use of online ordering services. For retailers, this means there is a significant opportunity to capture repeat business and foster customer loyalty.
To tap into this trend, consider implementing weekly specials or loyalty programs that reward frequent customers. Engaging with customers through personalized offers and maintaining high service standards can turn one-time buyers into regular patrons.
A major focus for many retailers is on new customer acquisition, particularly in the first quarter of the year. However, the real challenge – and opportunity – lies in converting these new customers into loyal ones. Research indicates that once a customer orders from a store three times, they are likely to become a loyal customer.
Therefore, the strategy should not only be about attracting new customers but also about ensuring they return. This can be achieved through personalized follow-ups, incentives for repeat visits, and exceptional customer service. The goal is to make each customer’s experience memorable, prompting them to come back again and again.
The concept of the “Revisit Ratio” – the number of returning visitors versus one-time visitors – emerged as a critical metric for success. A higher revisit ratio indicates stronger customer loyalty and satisfaction. Retailers should focus on tracking this metric closely and implementing strategies to improve it.
Techniques to enhance the revisit ratio include leveraging data analytics to understand customer preferences and behaviors, and using targeted marketing campaigns to re-engage past customers. Special promotions, loyalty rewards, and personalized communication can also play a significant role in encouraging repeat visits.
The National Restaurant Association Show provided us with a wealth of insights that are crucial for navigating the future of the retail and food service industries. The emphasis on growing digital order sales, understanding consumer habits, focusing on customer retention, and optimizing revisit ratios are key takeaways that can help retailers and food service operators thrive in a competitive market.
At Lula Convenience, we are committed to helping retailers and food service operators adapt to these emerging trends and enhance their customer engagement strategies. Stay tuned to our blog for more insights and updates that will keep you at the forefront of the industry.
