Secondary Data and Sales Potential for Automated Machines in Restaurants (Coursework Sample)

Secondary Data and Sales Potential for Automated Machines in Restaurants Author Affiliation Course Instructor Due Date Secondary Data and Sales Potential for Automated Machines in Restaurants Sources of Secondary Data Automated machines can offer memorable experiences besides reducing operation costs and human-to-human interactions. Two secondary data sources for estimating the product's potential market include the journal article Frontline Robots in tourism and hospitality: Service enhancement or cost reduction?, by Belanche1, Casaló, and Flavián. The article provides empirical evidence about the emergency and reception of waiter robots in hospitality through a literature review and primary research using a sample of 517 customers (Belanche et al., 2020). The second source is the article Robots in service experiences: Negotiating Food Tourism in pandemic futures by Fusté-Forné and Ivanov, which discusses how robots have helped in enhancing dining experiences and gastronomy in the tourism industry during the pandemic (Fusté-Forné & Ivanov, 2021). The two sources are significant because they give estimated numbers of robotics used in restaurants, including the positive impacts of automation in the industry. Moreover, they provide evidence of the industry's promising future of advanced service automation. A sample Page The sample page in Appendix 1.1 below is more relevant to estimating the potential market size of automation services in Quebec restaurants. According to this page, the sales of service robots in both professional and personal fields are growing by 30% annually (Belanche et al., 2020). The research also shows that the hospitality and tourism sectors are increasingly adopting robotics beyond the basic tasks of cleaning and inquiry to advanced frontline jobs such as taking orders, cooking, and serving customers. The paper demonstrates the growing market through Softbank Robotics Company which has sold over 25,000 products globally, including Pepper and Nao robots that perform waiter jobs in restaurants (Belanche et al., 2020). This data will help calculate the potential market size as it provides an annual estimated growth rate of robot sales. While growth rate helps estimate how much the product sales will increase each year, the company's total sales will help calculate the average annual sales. Potential Sales Estimate The estimate is calculated by multiplying the market size by the price per unit of the product. In this case, the market size will be based on the total units sold by Softbank Robotics from its inception in 2012 until 2020. Since the sales are expected to grow annually, the total sales will be increased by 60% to get the current figure. The unit price, as per the data, is $6000. Therefore total units estimate (market size) = 25,000*160%= 40,000 units Annual market size=40,000/8 (2020-2012) =500 units Unit price= $6000 Annual Sales potential= 500*$6000= $3,000,000 Several factors were considered in calculating the estimate, including the past, present, and projected market trends. According to Fusté-Forné & Ivanov (2021), the emergence of the COVID-19 pandemic increased the demand for automation in the hospitality industry due to social distancing and lockdowns. Also, the technological advancements and success of companies such as Softbank provide evidence of a growing market. Robotics reduce operat...