The COVID-19 pandemic has negatively impacted just about every industry, but those in travel, hospitality, food and beverage, as well as attraction and entertainment had it particularly bad.
I have been active in the family entertainment centre (FEC) industry for the past 20 years, so it pains me to see these operators struggling to stay afloat as the crisis extends.
Many of them did not make it, but fortunately, several hang on to the present recovery phase. From this point on, the survivors must quickly come to terms with how much the world has changed in the last couple of years and get themselves ready to thrive in the post COVID-19 world.
So, what can operators do to meet the demands of the new normal, reinvent and rejuvenate their businesses post COVID-19, and how can they prime themselves to effectively leverage the changes so that they can quickly take advantage of emergent opportunities?
Digital transformation to ensure success
As the CEO of Embed, I partner with FEC operators and propel their businesses to become FECs of the future.
Just like how manufacturers make use of cross-disciplinary technologies to enable smart manufacturing, or financial institutions to tap on fintech services to offer smart banking, we help FEC businesses take advantage of digital platforms to create an integrated, future-proof and sustainable smart FEC operation.
Digital transformation is needed to break the fences of conventional systems and boost legacy business operations as the world heads towards recovery. Surviving operators must understand the extent of consumer behaviour evolution and adjust their operations accordingly to ensure business continuity and future-proofing.
First, operators need to use a platform that integrates workflow and streamlines processes. Several platforms offer this opportunity to digitalise.
For example, there are ten modules of tools on the Embed platform, each dedicated to a specific operational function: Operations, Head Management Office, Customer Sales Channels, eCommerce Management, and Distribution Management.
Also Read: How Asia’s entertainment industry can adapt to changing dynamics amid a global calamity
By facilitating digital continuity and integration across the different functions, FECs can be much more efficient in centralising data, reports, and operations management.
Cashless solutions for a post COVID-19 world
Secondly, FECs should explore the adoption and integration of cashless solutions into existing systems. Today, consumer spending and payment habits have permanently changed, thanks to social distancing, safety protocols, and remote working.
After two years of increasing exposure to e-wallets and cashless payment systems, it is reasonable for consumers to expect a similar convenience at entertainment venues.
Mobile wallets are becoming commonplace, with mobile wallets reaching 2.6 billion users in the Asia Pacific by 2025, according to Boku. Coupled with the easing of COVID-19 restrictions, there are increased expectations that consumers need to get to their desired game or attraction quickly, without the encumberment of cash, tickets, or tokens.
Customers will enjoy increased convenience by eliminating contact with tokens, coins, and tickets; allowing them to stay in the zone and do reloads and purchases at any time without the risk of losing a game card.
Mobile wallets also hold several advantages for operators. It reduces operating costs (no coins, tickets, and game cards to process and maintain, and zero cost from downtime or unplanned maintenance), as well as the assurance of repeat business.
Beyond cashless technology, RFID technology also extends the customer experience. New tap cards and wristbands make it easy for hyper-personalisation, with membership details, balance, and reward tickets available in a pinch.
With software and hardware solutions, FEC operators can digitally deliver a superior guest experience, available on-premises and in the cloud, to best integrate the operator’s legacy systems.
The sky’s the limit for FECs of the future
Digitalisation is the key to success, and FECs need digital transformation to welcome tomorrow’s consumers. From cashless systems that allow operators to take their digital transformation enterprise-wide to ever-changing technology that caters to consumer preferences, the future is bright for FECs.
FECs should take a leaf from the Golden Age of Arcades and get creative in the way they embrace digital transformation and a platform strategy for success.
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