The Metaverse and Its Impact on the Foodservice Industry

By YGG News • July 24, 2024

The Metaverse and Its Impact on the Foodservice Industry

The metaverse—a collective virtual shared space created by the convergence of virtually enhanced physical reality and physically persistent virtual reality—is reshaping various industries, including foodservice. This virtual universe offers new ways to experience dining, from enjoying a restaurant setting from your own home to socializing in a virtual bar.

Image source: Decrypt

The Digital Shift Accelerated by COVID-19

The COVID-19 pandemic accelerated the foodservice industry’s digital transformation. With reduced in-store visits, technology such as online ordering, delivery apps, and mobile payments became crucial. A 2021 GlobalData survey showed that 76% of consumers were cautious about dining out due to COVID-19 risks, prompting a rapid shift towards digital solutions.

Investments in Metaverse Technologies

Foodservice companies have been exploring metaverse technologies for years. Blockchain and cryptocurrencies are essential in this new digital world, with companies like Burger King and Subway testing these technologies. Non-fungible tokens (NFTs), which authenticate digital assets, are becoming popular, with brands like Taco Bell, McDonald’s China, and Pizza Hut releasing their own NFT collections.

Augmented and Virtual Realities in Foodservice

Augmented Reality (AR) and Virtual Reality (VR) are key components of the metaverse. AR enhances the real world with digital overlays, while VR creates fully immersive digital environments. Before the pandemic, Burger King’s AR campaign in Brazil and Sodexo’s use of AR smart glasses were notable examples. Walmart has used VR for employee training since 2017, showcasing its potential in the industry.

Brands Embrace the Metaverse

As interest in the metaverse grows, foodservice brands are leveraging it for marketing and customer engagement. For example, Chipotle launched a virtual store on Roblox, McDonald’s created an interactive Lunar New Year exhibit, and Miller Lite planned a virtual bar for the Super Bowl. Unique experiences like Colossalbit’s MetaTerrace in Dubai—a mixed reality lounge with a VR bar—illustrate the creative potential of the metaverse.

As the industry continues to navigate post-pandemic challenges, the metaverse offers fresh opportunities for growth and innovation. Expect more metaverse-related campaigns and initiatives from foodservice companies aiming to attract digitally savvy customers. With ongoing investments and evolving technologies, the foodservice industry’s digital future is set to be both exciting and transformative.

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