Hospitality Trends

Hospitality Tech helping venues navigate the latest trends in 2024

If you are trying to find ways that help drive your venue's success and help you stand out, we've compiled a list of evolving trends affecting the food and beverage industry. Whether immediately noticeable or quietly growing in the background, these trends can significantly impact your venue's success. The key is to be selective with what you apply to your venue so you can see what has real and meaningful impact on your business.

Increased Normality of Surcharges

Some hospitality operators have been hesitant to implement surcharges in their venues, fearing that it might drive away loyal customers. However, it is common practice for venues to charge either a weekend or a Sunday and Public Holiday surcharge to account for the higher staff costs associated with paying employee's higher penalty rates on these days.

In 2024, surcharging may see increases, including more extreme "peak season surcharges". Venues that have implemented peak season surcharges defend them, stating that these surcharges are in place to cover the added cost of housing additional staff needed to operate during the busy holiday period, attracting them to the regional area. However, it's a balancing act to not upset your customers but also cover your costs. Whatever your decision regarding whether you choose to surcharge, Idealpos offers support for various surcharge types, allowing you to adapt to industry trends effectively.

Increase in Non-Alcoholic Beverages

The non-alcoholic beverage industry is growing and predicted to continue growing in 2024. Hospitality venues must take note and should offer alternatives on their drink menus due to these customer preferences. It does not have to be onerous on your venue, rather, why not see it as an opportunity to show your flair by getting creative with mocktails and non-alcoholic beverages. Using the Idealpos POS reports, you can then understand customer preferences, and adapt in real-time, both by catering to people's desires and advertising these changes so people see your venue as one they must check out.

Service Robots in Hospitality

As technology advances, service robots are expected to play a more prominent role in quick-service restaurants. While human workers remain essential for a personal touch, robots can automate processes, streamline operations, and enhance customer experiences. Expect to see an increase in the use of service robots in various ways within the hospitality industry.

Reservations

Reservation systems are crucial for planning staffing and stock levels in the hospitality industry. According to a study by ResDiary, 81% of respondents agree that technology has made reservation processes easier. In 2024, the number of venues to use reservation systems we believe will increase due to a reported 93% of venue operators that believe a reservation system to be one of the most essential technical supports to run a successful business. 

With this knowledge, your venue may want to consider implementing an integrated reservation system to enhance your venue's efficiency and reduce errors.

Loyalty Programs

In the midst of the cost-of living crisis, diners are more inclined to go out when they perceive they are getting value. Loyalty programs present significant opportunities within the hospitality industry to attract more customers than ever, thanks to the appeal of discounts.

According to Statista, 68% of Australians state that they shop more frequently with a business that offers a loyalty program they appreciate. This underscores the opportunity for hospitality venues to attract new customers and retain existing ones through well-designed loyalty programs. When customers feel they receive bonuses or other beneficial services from a business they have visited, they are more likely to return, often sharing their positive experiences with friends. In 2024, loyalty programs may witness increased popularity while also evolving to become more creative, benefiting both the customer and the venue.

In the ever-changing hospitality industry, businesses must stay ahead of the game. Contact our team today to explore how hospitality technology can help your business thrive in 2024 and beyond.