BigDish PLC Asian Strategy Update (4890Y)
August 22 2018 - 2:00AM
UK Regulatory
TIDMDISH
RNS Number : 4890Y
BigDish PLC
22 August 2018
22 August 2018
BigDish Plc
("BigDish" or the "Company")
Asian Strategy Update
BigDish Plc (LON: DISH), a food tech company that operates a
yield management platform for restaurants, is pleased to announce
an update on its Asian strategy.
Highlights:
-- Grow Asian business through yield management
-- The Company believe that yield management will transform the restaurant industry
-- Restaurants can market discounted tables through BigDish
-- BigDish will market new technology development in September
Further to last week's announcement on the acquisition of
looloo, BigDish is preparing to grow its Asia business through
marketing new technology, which is currently under development. In
Asia, BigDish has determined that yield management for restaurants
is gaining acceptance from both restaurants and consumers. Yield
management is a dynamic pricing strategy that charges different
prices at different times for the same product. Yield management
transformed the airline industry in the 1970s and forever changed
the way airline seats are sold. BigDish believe that yield
management will transform the restaurant industry. The underlying
driver behind any yield management strategy is incentive to
influence consumer behaviour.
In Asia, the Company has identified that its most popular time
slot is 9pm. However, in off peak times, restaurants can offer
discounted tables of up to 50 per cent off the food only, the more
off peak the time the greater the incentive. Even in busy periods
restaurants can still have empty tables and a restaurant is able to
market those tables at low discounts on BigDish.
The Company believes that yield management presents an
opportunity to disrupt restaurant discount cards and voucher or
coupon businesses. These old business models generate minimal to no
data and are ripe for disruption. In addition, these old models
offer little flexibility to restaurants and BigDish believes it is
important to create a win-win solution for both restaurants and
consumers.
In terms of demographic, BigDish has discovered from using its
proprietary big data business intelligence platform that the most
frequent users tend to be female between the ages of 24 to 39. The
Company expects to see more growth within this demographic. The
emerging markets in Asia are excellent growth opportunities for the
Company as many of these countries have rising consumers spending
and will consequently benefit the restaurant industry. The Company
will provide a further update next week on its UK strategy and is
on schedule to launch in Bath in September.
Aidan Bishop, Chairman, commented:
"The Asian opportunity is a big one for BigDish. It is an
exciting part of the world in relation to young disruptive consumer
tech companies. The business has low overheads with Manila being a
great base of operation for our technology development, and we are
also able to develop world class products at a fraction of the cost
of what it would be in the UK for example.
"This gives us a huge advantage as we consider technology
development to be at the core of our strategy, the Company has
exciting plans for this and looks forward to updating the market in
September."
Joost Boer, CEO, commented:
"I believe that within the next three years that dynamic pricing
will become common place within the restaurant industry and
restaurant membership and discount cards will become obsolete.
"It is encouraging to see early signs of acceptance already and
we intend to stay at the forefront of innovative technology within
this space."
Enquiries:
Blytheweigh +44 (0) 20 7138 3204
Tim Blythe
Julia Tilley
Simon Woods
bigdishplc.com
@bigdishIR
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END
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