Sharing an insightful narrative on the evolution of India’s food services industry, Riyaaz Amlani, Founder and MD of Impresario Entertainment and Hospitality, emphasized the indispensable role of technology in shaping the industry’s future.
“Restaurateurs have been traditionally very slow to adopt technology as it is a person-to-person business. But it’s becoming inevitable. Every company needs a CTO now more than ever,” said Amlani in a candid conversation at the Great India Retail Summit 2024, held in Mumbai earlier this month.
He further expressed his opinion that companies failing to adopt technology, both to streamline processes and as a means of storytelling, will quickly become disconnected from their audience.
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Acknowledging the influence of India’s tech ecosystem, especially the swift integration of digital payment solutions such as UPI, he highlighted that food enterprises now facilitate approximately 40 percent of transactions through UPI, surpassing cards and cash. This marks a significant shift from seven years ago when cash transactions dominated, comprising nearly 70 percent of the total.
“The aggregators have become very dominant in the market. The India tech stack has been incredible. 40% of transactions today come from UPI.”
Furthermore, he emphasized the transition towards QR code menus and digital storytelling, acknowledging the contemporary consumer’s demand for readily accessible information.
Established in 2001, Impresario stands as the parent organization of well-known eateries and cafes like Social, Smoke House Deli, Mocha, and Slink & Bardot.
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