Elevating QSR, Fast Casual Dining & Coffee Chains.
Consumer and Senior Executive Study into the current trends and challenges the hospitality sector is facing.
The QSR, fast casual dining, and coffee chain industries have faced significant challenges in recent years. However, with the QSR sector alone projected to reach £44 billion by 2029, growing at a CAGR of 5.25% from 2024, there are promising signs of recovery. Technology and business leaders should remain optimistic.
This paper is the output of a study that involved 2,000 UK based consumers and 100+ UK based Senior Tech Executives that work within the sector.
Executive Summary.
Confidence is high among technology leaders in the QSR, fast casual dining, and coffee chain industries. Recent investments in infrastructure, data pooling, and automation have positioned these businesses to maximise returns.
However, challenges persist. Cybersecurity concerns grow as businesses deepen their digital engagement, and legacy systems continue to hinder seamless customer experiences. Additionally, a lack of skilled workforce prevents many from fully leveraging their tech investments.
Budget constraints are another issue, especially as consumers feel the strain of the cost of living. 77% of consumers say economic pressures affect how often they order meals or beverages outside the home or for delivery. Combined with high inflation and industry-wide revenue declines of 1%-6% YoY in early 2024, budgets remain tight.
Technology leaders face tough decisions, with new technologies like GenAI offering uncertain ROI and high implementation costs. Despite this, many are investing 70% to 90% of their available budgets into innovation.