LINE MAN Wongnai, Thailand’s leading on-demand and restaurant discovery platform, recently held the ‘Restaurant 2023: Future’s Recipe’ annual event to reveal an overview of Thailand’s restaurant industry, highlight dining trends, and a plan following the acquisition of FoodStory. With the goal of solidifying the top position as a restaurant solutions leader, LINE MAN Wongnai seeks to offer innovative features that cater to the diverse needs of all types of restaurants.
Over 100K New Restaurants Open Amidst Challenges
Yod Chinsupakul, CEO of LINE MAN Wongnai, said, “In 2023, the restaurant industry witnessed a 13.6% increase, with over 100,000 new restaurants emerging. Among these, breakfast eateries (sandwiches), Chinese restaurants, and sukiyaki/shabu restaurants experienced the highest growth rates, while food trucks, late-night congee places, and pizzerias saw relatively slower growth. As Covid-19 restrictions eased, data from Wongnai POS revealed a steady rise in gross merchandise value (GMV) of total dine-in sales.
Despite the continuous emergence of new restaurant openings, 50% of them will close within the first year, and 65% will shut down in the first three years. As the leading restaurant solutions provider, LINE MAN Wongnai aids eateries in boosting revenue and cutting costs, enabling them to thrive in the competitive market. By utilizing advanced POS (Point of Sale) technology, suitable for all restaurant types, owners can efficiently manage front-house orders and back-office operations.”
Post-acquisition plan with FoodStory to accelerate all-in-one solutions for all restaurant types
Yod added, “With the acquisition of FoodStory, we are combining the expertise of an 11-year restaurant solutions provider with the largest restaurant database platform in Thailand. Currently, we hold the top position in the POS market, with 55,000 restaurants using Wongnai POS and FoodStory POS, accounting for 40% of the market share. Together, both POS systems have generated 180 billion baht in GMV, processed 636 million orders, and reduced paper usage by 323 tonnes.”
Introducing New Restaurant Management Features for Increased Sales and Reduced Costs.
Thagoon Chartsutipol, Head of FoodStory POS of LINE MAN Wongnai, said, “Wongnai POS and FoodStory POS are invaluable partners for restaurants at every stage of their journey, from initial setup during opening, catering to increasing customer demand, to expanding with new branches. Based on a survey with 1,230 restaurants conducted in the first half of 2023, we identified their top concerns as ingredient costs, labor expenses, hidden costs, heightened competition, and fewer new and returning customers. In response, we have developed new solutions to address the challenges faced by all restaurants.”
- Solutions for managing vast chains of franchised restaurants:
- Mobile Order: Simplify food ordering with QR Code scanning, directly sending orders to the kitchen via the POS system, minimizing errors and missing orders.
- Master Data: Access information from all branches anytime, anywhere, consolidating data for seamless management.
- Inventory Management: Automate ingredient ratios in menus, update inventory status, and receive low stock alerts effortlessly.
- Solutions for mid-to-small-sized restaurants:
- Wongnai POS Manager: A mobile app empowering restaurant owners to easily manage menus on LINE MAN, update prices across all channels, edit menu information, monitor real-time sales, and create promotions.
- Wongnai POS Staff: Enables on-site orders acceptance via staff’s mobile phones for seamless service.
- Wongnai POS Mobile Order: Enables self-ordering by customers via phones, reducing staff costs and enhancing overall efficiency for restaurateurs.
During the event, dining trends among Thai users in 2023 were unveiled. The most searched menus on LINE MAN Wongnai included crispy pork, ice cream, cake, sukiyaki, and mala, while the top delivery-ordered menus on LINE MAN were papaya salad with fermented fish, stir-fried spicy basil crispy pork, and grilled chicken. Among the drinks, the top three bestsellers were milk matcha, chocolate drink, and Thai tea.
The “Restaurant 2023: Future’s Recipe” event, which was held at Samyan Mitrtown Hall, saw esteemed guests in attendance. Thanapong Wongchinsri from Torpenguin Facebook page, Pornchai Nitmetawong from เพื่อนแท้ร้านอาหาร Facebook page, Kunapong Techavoraprasert from ขายดีไปด้วยกัน Facebook page, and representatives from famous restaurants such as Mo-Mo-Paradise, Siam Steak, and NANA Coffee Roasters shared their experience in restaurant management while many restaurateurs attended the event.
1Data from all restaurants on LINE MAN Wongnai platform compared between June 2022 and June 2023.
2Combined data from Wongnai POS and FoodStory POS between 2014 and 2023