US-based market research firm Sense360 has introduced its new comprehensive measurement and analytics solution, Delivery IQ for the restaurant industry.
Delivery IQ allows restaurants to understand how third-party delivery services affect their businesses.
According to the company, 36% of customers use third party delivery services to place orders from restaurants instead of visiting them in-person.
It also revealed that 52% of third-party delivery occasions are replacing an in-person restaurant visit. This makes restaurants to have little visibility.
Delivery IQ integrates behavioural purchase and foot traffic data with proprietary survey data into a report, which will allow restaurants to get an understanding of real-time perspective of off-premise diners and the impact of third party delivery services.
Sense360 CEO and co-founder Eli Portnoy said: “Leveraged correctly, third party delivery services can drive incremental revenue lift. Restaurants need – and deserve – clearer insight into the performance of these services and the impact on their businesses.
“That’s why we developed Delivery IQ and are so thrilled to share its powerful, real-time monitoring and analysis capabilities with the market.”
In addition, the company noted that various major quick service and fast casual chains such as White Castle have enrolled in early access to the service.
White Castle business intelligence and analytics senior manager Keith Wagner said: “We had been working with all available data but lacked the full market and competitive context.
“Delivery IQ has answered previously unanswerable questions – from understanding who our third party delivery customers are to quantifying the value of our delivery customers over time.”
Olo CEO and founder Noah Glass said: “At Olo, we aim to help brands take better advantage of the digital shift that’s happening in the industry but we see first hand the lack of information that’s available to our partner restaurants to fully understand and capitalize on third party delivery.
“With Delivery IQ, Sense360 provides immediate answers to crucial third party delivery questions and tools for ongoing measurement so that restaurants can be empowered and make the most of this opportunity.”