Remove 2023 Remove Point of Sale Remove Pricing Remove Technology
article thumbnail

9 Top Restaurant Technologies To Evolve Your Business

7 Shifts

Restaurant technology is no longer a nice-to-have: it’s an absolute necessity for building a modern, resilient restaurant that can become and stay competitive. The first technologies that restaurants often invest in are cloud-based point of sale (POS) systems and payroll processing.

article thumbnail

2023 Reflections: The Year That Was in Restaurants, Part Two

Modern Restaurant Management

In 2023, the restaurant industry faced several challenges and made some missteps along the way. Notably, not enough investment in technology and digital transformation. As with most other industries, the biggest talking point for restaurants in 2023 has been artificial intelligence. Here are some of their insights.

2023 192
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

On the Road to Relief: Restaurant Trends and Opportunities to Watch

Modern Restaurant Management

According to September 2023 numbers from the National Restaurant Association , 49 percent of restaurants reported year-over-year increases in same-store sales. economy demonstrated resilience in 2023—with GDP, employment rates and consumer spending remaining relatively stable or even growing. Coffee in 2023.

2024 191
article thumbnail

Building the Value Equation as We Approach the Price Ceiling 

Modern Restaurant Management

Striking a balance between value and price. Is it possible to strike a balance between value and price to satisfy both parties? To answer that question, Revenue Management Solutions (RMS) examined two factors: the impact of price increases on QSR sales performance and consumers’ perception of value. Is it possible?

Pricing 199
article thumbnail

2023 Outlook: Trends and Challenges Restaurants Will See, Part One

Modern Restaurant Management

Modern Restaurant Management (MRM) magazine asked experts for their thoughts on trends and challenges that will affect the restaurant industry in 2023. A tightly integrated technology strategy will be key to workplace satisfaction and profitability. For part two, click here. The “restaurant anywhere” experience will expand.

2023 166
article thumbnail

What Do Guests Think About Dynamic Pricing?

Modern Restaurant Management

Dynamic pricing would add friction to the guest experience, according to Capterra’s 2023 Dynamic Pricing in Restaurants. Sixty-five percent of consumers say dynamic pricing would make the decision of where and when to eat more difficult; 63 percent say it would make it harder to budget their restaurant spending.

Pricing 180
article thumbnail

2023 Reflections: The Year That Was in Restaurants, Part Three

Modern Restaurant Management

In 2023, we saw sellers increasing throughput utilizing the “experience creates consumption” strategy and we predict an increase in draft program profitability in 2024 as more on-premise professionals embrace the needs of the highly coveted craft beverage loyalists. Here are some of their insights.

2023 120