Panera Bread Bets Millions on Faster Food Service

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April 9 (Bloomberg) -- Panera Bread CEO Ron Shaich discusses Panera’s push for faster service with Carol Massar on Bloomberg Television’s “Taking Stock.” (Source: Bloomberg)

This is "taking stock" on bloomberg.

We are coming to you from the ferrari showroom in manhattan.

We of the chief executive of farah re: north america, -- ferrari north america, marco mattiacci.

Jason harper also with us to talk about engineering fine product.

Let's talk about engineering some food.

Carol massar has the chief executive of an air of bread.

You have fast cars and i have fast casual food.

An air ofpanera bread testing 2.0 allowing you to order online or go through a mobile app and pick it up.

Panera bread founder joining us here.

Talk to us about panera 2.0. it is much more than an app for technology.

It's an integrated revolution.

If you want to come in and take it to go, place your order were ever you are, place it mobley.

It has it there at the designated time.

This is something a use to do with stores that maybe you did not have an app and you call ahead.

I take my kids to school two out of the three days per week because i let my wife sleep in them.

I go for double brownie points.

That means i get them lunch.

Where do i stop?

Panera.

We would already be laid and i would say to the manager, can you have this put aside when we get there.

I give my credit card and he runs and.

I thought it was a wonderful system but it works for me.

What about the other 8 million guest per week to come to panera?

We redesign the system to give us that experience.

That means you kind of have to redesign the workforce a little bit.

That means you don't need so many people taking orders but killing them -- filling them.

It enables us to take almost unlimited orders.

You add mobile, web, kiosks.

That means there's going to be increasing demand on the production system.

You bring up total quality management initiatives to enable us to deliver food and do it accurately.

It makes sense that it works for you.

You run a publicly held company.

Talk to us about the increase you are seeing in terms of people using the app, ordering in, and what it does to volume and location.

We're doing the same thing for the eat in the guest.

They can walk over to a table, sit down, and place the order on the open device from the table and have food delivered to them.

If they are cruising on a computer, they can do the same thing.

It's like getting rid of all of the tellers doing everything electronically.

We are taking labor.

What's the value of reading a menu, through your mind, how did your mouse, and it becomes an extension of the machine into the register.

We are putting extra labor and putting it into production, updating and increasing the quality and accuracy of our food so we get it right.

At the same time, giving much greater warmth giving it all to you.

I love all the warm and fuzzy stuff.

You would not do it if it did not make an impact in terms of sales volume.

Here's the reality about this.

If you focus on the guest experience, the byproduct is the sales and revenue.

I built this company the last few years up 60 fold.

I did it not by focusing on the stock price but focusing on the guest experience.

Talk to me about that manifestation.

We have found this vision for the last 40 years.

We put this in place and we prototyped it.

We're seeing these doors operating under the new model are producing the highest comp sales of any stores in the area.

Volume is going up.

We are changing the growth rates.

Is it also that you want it to be easier, maximize our time, get the most out of it?

The restaurant business is about getting them to go past the competitors and come to us.

It's the amount of desired compared to the friction that exists.

How relevant and how much i wanted.

It is your time and energy.

What we are focusing on is reducing the friction for the guest while increasing desire.

The fast casual space which i would put you -- we created it.

There are a lot of choices out there.

Are you going after anyone specifically in doing this?

We want to own our space.

We are probably the preeminent brand that those soups, salads, and sandwiches in this country.

We are creating a differentiated experience if you want that food to go.

We are creating a differentiated experience if you want to eat in.

We are going through the small delivery business.

We have the large order delivery business and we're now going through the small delivery business using technology as an enabler.

It costs a lot.

Each store in order to do this, it's about $125,000. we've already spent $42 million on the technology to do it.

I'm talking about the infrastructure, yes.

It's expenses.

It's made a huge difference and changes the trajectory.

My job as a ceo is to figure out where the technology will change the restaurant industry.

Some will figure out how to use it to change the guest experience and some won't. those who do will survive.

Thank you so much.

Founder, chairman, and ceo of panera bread.

More on the power and prowess of the new ferrari 458 speciale.

Pimm is at the manhattan showroom with the ceo of ferrari north america.

The new theme park will go up in barcelona in 2016. they already have a park in abu dhabi.

Talk about a need for speed.

Sounds like we need to go on a road trip.

"taking stock you're watching"taking stock." ? -- you're watching "taking stock." ? this is "taking stock" on bloomberg.

I'm pimm fox.

We are coming to you from the ferrari showroom in manhattan.

A special look at engineering excellence today and here to help me do so is the ferrari automobile collector and also with us, jason harper, bloomberg news automobile columnist and one of the ferrari collector.

You have to drink something special or take a potion in order to catch the ferrari collector bug?

You're born with it.

It has such a pedigree.

When you are growing up it really means something to you at a young age.

Do you remember the first time he recognized the pony?

Where were you?

I slept with a picture of a 328 underneath my pillow.

It looks just like the ferrari

This text has been automatically generated. It may not be 100% accurate.

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