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Each restaurant patron values certain aspects of the restaurant experience as determined by a combination of their habits, budget and personal preferences. PYMNTS’ research uncovered patterns concerning these factors. Customer service is also a deciding factor for many, as is whether the restaurant is part of an established chain or independently owned. Additionally, the metaverse is primed to change the restaurant experience for many consumers.
“Digital Divide: Technology, Customer Service And Innovation In The Restaurant Industry,” a PYMNTS and Paytronix collaboration, examines consumers’ relationships with restaurant choice and virtual reality in the restaurant context. When consumers decide what kind of restaurant they wish to order from, they are deciding based on multiple factors, including the taste of the food, familiarity and efficiency of the food’s preparation or speed in which they can anticipate their order. But customers’ reasons for choosing a specific eatery don’t stop there. We surveyed 2,391 restaurant consumers in the United States to learn more about what inspires their restaurant choices.
• Efficiency is always important in the restaurant industry, but it is especially vital for chains, which face far more customer traffic than independent locations. Our data shows that 60% of consumers visited only chains when purchasing restaurant food in the 30 days prior to being surveyed, vastly exceeding the 25% that purchased food at both chain and independent restaurants and the 14% that visited only independent eateries in that same time.
• Consumers often choose chain restaurants for their convenience, which correlates with the many digital features they offer. Our research finds that 38% of chain-restaurant-exclusive consumers value convenience when choosing where to eat, and 10% said they are chiefly motivated by convenience. These figures drop significantly for independent-restaurant-exclusive consumers: 20% value convenience and just 1% of these consumers say it is their primary motivation.
• Staff service is key, regardless of a consumer’s convenience-seeking or a restaurant’s technological savviness. Three-quarters of consumers that exclusively visit independent eateries as well as the same share of chain-exclusive diners agree that staff continuity positively impacts the restaurant experience. Some groups report this as important at even higher rates, particularly millennials, at 81%, and high-income consumers, at 80%.
To learn more about the intricacies of how consumers select eateries and how technology impacts these choices, download the report.
KPMG, one of the Big Four accounting firms in Canada and the United States, has revealed the opening of its first metaverse collaboration hub to help its employees and clients pursue growth opportunities in the digital era.
KPMG is entering the metaverse with a new collaboration hub that will connect employees, clients and others with Web3. The company is making a collective $30 million investment this year in Web3 experiences, with the metaverse hub as the “signature piece.”
According to a Tuesday report by Fortune, the hub will be focused on education, collaboration, training, events and workshops with Cliff Justice, KPMG U.S. leader of enterprise innovation claiming that it is presently being utilized for such things but that KPMG intends to hire people to build it and expand it over time.
The long-term objective for the company is to examine other potential metaverse use cases such as health care, consumer, retail, media and financial services.
What do you think❓
— THE RELEVANCE HOUSE. (@RelevanceHouse) June 28, 2022
Laura Newinski, deputy chair and chief operating officer at KPMG in the U.S., said:
“The metaverse is a market opportunity, a way to re-engage talent, and a path to connect people across the globe through a new collaborative experience.”
The companies will continue to explore possibilities in the crypto and Web 3.0 space, co-create new tools and solutions that provide critical insights, launch immersive learning and development platforms, recruit talent to contribute knowledge and help navigate the changing confluence of the physical and digital worlds, among other things, as part of its innovation strategy.
The COVID-19 epidemic sparked people’s interest in the metaverse. There has been an increase in the desire for methods to make internet contact more lifelike as more individuals work and go to school online. JPMorgan, one of the biggest banks in the United States, made headlines earlier this year by publishing a paper suggesting metaverse technology was a “one trillion-dollar opportunity,” along with establishing its own virtual headquarters in the Decentraland (MANA) metaverse.
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