To further personalise the customer experience, the company plans to integrate its loyalty program with digital menu boards, adjusting in-store menus to cater specifically to nearby customers.
GLOYum Brands is intensifying its focus on data to achieve “100% of sales through digital means.” They are consolidating insights from all their brands to enhance their operations. During the recent earnings call, executives highlighted their efforts to expand the Yum Global Data Hub, capturing a substantial portion of global sales data and essential operational metrics. They view this centralized hub as a crucial asset that sets them apart, especially in their pursuit of advanced AI capabilities.
The company plans to utilize the data hub extensively in the upcoming year to experiment with and implement new AI-driven features. These innovations will eventually become part of the digital platforms in their restaurants. The focus will be on tailored suggestions to increase order sizes on online platforms, refined menu pricing strategies, and intelligent tools for restaurant managers.
In addition to improving analytics for individual brands, Yum Brands aims to unify all restaurant data to create synergies and enhance their overall data capabilities. They are preparing to launch their cross-brand platform in the United States in the coming quarter, aiming to gain valuable insights into customer ordering behaviors across all their brands.
Their digital initiatives align with the growing trend of consumers using internet-connected devices for food purchases. Loyalty programs are also proving to be successful for Yum Brands, with Taco Bell loyalty members spending significantly more annually. The company intends to expand these programs, making them more versatile across various channels and enhancing the associated benefits, like exclusive access to products and experiences.
To further personalize the customer experience, the company plans to integrate its loyalty program with digital menu boards, adjusting in-store menus to cater specifically to nearby customers. Statistics show that over half of restaurant customers are already engaging with loyalty programs, and there has been a 15% year-over-year increase in the adoption of quick-service restaurant loyalty programs.
