Digital integration is one of the key things that food companies need the most right now. And having such a company assisting you with that is important. Now comes 2020 when McDonald bought Dynamic Yield for $300M McDonald’s is the first such company to bring such a technology.
As per WSJ, it happens rarely that hotels acquire such a company – but this deal for McDonald’s was of much significance as it will help improve the company’s growth and progress. It will also be very convenient for the customers and give them a much better experience.
Mcdonald’s has been constantly trying to make improvements and advancements in technology. It in fact had also deployed automated ordering kiosks to 20k restaurants in late 2018.
It also digitalized its infrastructure and changed its boards with digital menu boards – at least 22k restaurants of theirs. The total investment of the company in digitalizing is $6B! as per McDonald’s Dynamic Yield 300M mastercardChinwsj.
But this does not come as a huge surprise. McDonald’s has always been keen on using technology for the ease and growth of its business. The company informed us about the same earlier. McDonald’s even though faced a strong shortage of labor, still continued investing in technology considering it a priority.
This move by McDonald’s will enable/help the production of more personalized customer experience by showing customers a variety of food options and trending items they can choose from on the digital board itself.
This technology can also ease in a way that customers can know the position of their order. Which order number currently is going and which one is going to come first in the row.
This investment will help McDonald’s become the first company to integrate such technology into the domain of food services. Moreover, this is a tasty technology and very well worked out.
Such deals aren’t very common for Mcdonald’s. McDonald’s investment back in 1999 was $173M for BM (Boston markets). Then in 1998, it had a stake in Chipotle which it sold in 2006. And to improve its technology while interacting with the customers.
It was noticed by Mr. Steve, CEO of McD, that in an earlier chain of projects the boards the company was using were not large enough. The company then identified where exactly it was lagging – they then realized that a lot of things in the restaurant were on stay because the food wasn’t ready.
Dynamic Yields on the other hand has the ability to meet McDonald’s customer needs. This gets a boost especially when Mcdonald’s is keen on improving itself with the help of technology and evolving marketing strategic technology. This allows for the everlasting enhancement and growth of Mcdonald’s.
Mcdonald’s has also developed its mobile app to a great extent where you can order and pay. You can also deliver the food by UberEATs which has come as a boost for Mcdonald’s.
It is estimated that this deal for Mcdonald’s will be very beneficial and will up their business by three percent by the end of the year. It will also be very helpful to customers and restaurant managers.
Mcdonald’s is all set to reach heights and gain profits with its advancements in technology. With the current deal, Mcdonald’s is all set to become the world’s first-ever food company to align decision marketing technology in this sector.
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