The Simmer
Matt Tucker, CEO, Tock
Aug 14, 2024
Matt Tucker, CEO of Tock, an innovative reservation service, dives into the recent shake-ups in the restaurant booking industry. With American Express's acquisition of Tock and OpenTable's partnership with Visa, he offers a bold take on the competitive landscape. Tucker discusses the headache of bots and brokers disrupting reservations and shares insights on the impact of delivery fees on restaurants. He emphasizes the need for fairness in access to dining and the evolution of reservation systems in a rapidly changing market.
50:21
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Quick takeaways
- The restaurant reservation market is becoming increasingly competitive, with platforms like Tock and OpenTable innovating to retain customers and attract restaurants.
- Bots navigating reservation systems pose significant challenges, prompting platforms to adopt AI technologies to ensure fair access to dining experiences.
Deep dives
OpenTable's Partnership with Visa
OpenTable has announced a partnership with Visa that grants premium cardholders early access to coveted reservations and special events at select restaurants. This initiative aims to enhance customer loyalty among cardholders, while simultaneously deepening relationships with high-profile restaurants that have moved to or strengthened their ties with OpenTable. The partnership also includes exclusive marketing support and monetary benefits for participating restaurants, enhancing their visibility on the OpenTable platform. This move indicates a strategic response to competitive pressures in the restaurant technology space, as OpenTable seeks to reclaim its dominance in the reservation market.
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