This article is part of Raydiant’s Future of The Restaurant Industry series which interviews top experts on their perspective of technology and trends that are shaping the industry.
The following is an interview we had with Josh Lang, Founder of Pink Cloud Media.
Outside of COVID, what have been the most dramatic changes you’ve seen in the industry over the past 3-5 years?
JL: The most dramatic change in the restaurant industry that I have experienced over the past 3 to 5 years is the decline in service standards across both FOH/BOH.
What are the top trends you see shaping the future of the restaurant industry in the next 3-5 years?
JL: The next 3 to 5 years you will see the Chelsea Market style food hall concepts continue to pop up all over the world. The reason for this is, the cost to build out a 300-seat restaurant is extremely expensive. If you take that same space and create an environment that houses multiple concepts that are easily interchangeable the consumer is left feeling satisfied and they will come back to try a different concept the next time. win/win
What technology do you believe will have the biggest impact on the restaurant industry in the next 3-5 years?
JL: Handheld payment processing is the wave of the future. MGM Resorts International started rolling this service in each of their casinos in late 2019.
What’s the future of restaurants?
JL: You are going to see an influx of small, fast casual concepts that can get customers in and out safely and efficiently. The days of your customers sitting in a restaurant are over in the United States. Covid is destroying that business model.