E-commerce, geolocation amongst factors shaping the QSR scene: Euromonitor International
Research Manager Ivan Uzunov says that adapting to consumer demands in the age of Internet of Things has led to evolving business models.
Changes in the QSR scene can be attributed to factors such as location-sensing technologies and e-commerce, according to Euromonitor International research manager Ivan Uzunov, who will join in a special panel on Asia’s digital ordering and delivery at the upcoming QSR Media Asia Conference & Awards.
With interest in retailing and digital commerce, Uzunov has been researching emerging markets across Asia. He also takes interest in researching the beauty and fashion industries.
Euromonitor International is a London-based global business intelligence provider with more than four decades of expertise in providing international market reports and consumer market databases.
Here’s a short Q&A with Uzunov:
QSR Media: What are your key business philosophies?
Uzunov: At Euromonitor International we always aim to deliver premium products with outstanding client service. The modern business is changing faster than ever, and we believe data is the only way to keep the competitive edge and therefore make well informed decisions. But data is evolving quickly as well, and so does the competition, so we always try to be on the cutting technological edge. We also aspire to be “premium” in our interactions with colleagues and take pride in our work every day. The four key values in our company are to be premium, transparent, collaborate, empower and stretch, and to be responsible and fun.
What particular issues or developments are you currently thinking about that you think the multi-site restaurant industry should also take a closer look at?
As a strategic and tactical research provider, we have identified some key themes that are transforming services-oriented businesses like retailing and the foodservice. The first and major theme is technology. Technology will play a major role in the future of physical space with the help of AI (Voice and Image Recognition), AR (augmented reality) and big data. Companies as a result will increase their competitive efforts across multiple channels, markets, products and delivery systems.
E-commerce is another factor driving more integration between the physical outlets and ecommerce spaces. Adapting to changing consumer demands in the era of Internet of Things has led to evolving business models aimed at improving customer experiences and services. Invisible transactions used as a touchpoint will add value through interaction with the consumer to build brand loyalty.
I personally think the most interesting prospect is the rise of the use of geolocation in the industry. Immediacy, personal service and the ability to deliver great experiences with the help of location-sensing technologies are factors shaping physical space while maximising in-store profitability.
What are some of the things you’re personally excited to do at the third QSR Media Asia Conference and Awards in Singapore?
The QSR Media Asia Conference is a great chance to meet the industry players. For a research company it is imperative that we communicate with as wide an audience as possible in order to pinpoint and keep abreast of the latest developments and future trends. What would be the next big thing within the delivery sector? How are chains faring at the age of dark kitchens? How is technology reshaping their business? The speakers and participants at the QSR conference are dealing with such questions on [a] daily basis and I would love to hear about it from them.
(We’re one month away from Asia’s largest multi-site restaurant industry conference, make sure you join hundreds of c-suite executives by registering HERE!)