Modern Restaurant Management

NOVEMBER 15, 2022

Due to many factors including inflation and supply chain challenges, restaurant owners and operators have been faced with tough choice about raising menu prices. As food prices rise, restaurants should try to stay within their target ratio for food cost to gross food revenue in order to maintain target profits.

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Modern Restaurant Management

FEBRUARY 17, 2020

Restaurants, like retail before them, are battling the rising tide of digital services by ensuring an experience that can’t be had online and that reflects well on their brand. Restaurants can thrive, even in the era of digital services, by offering an experience that can’t be found online. A Dirty Truth About Experience.

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Customer Experience Front of House Back of House Consumer Goods 183

Restaurant365

OCTOBER 29, 2021

Restaurants are devoting time, energy, and marketing resources to improve the customer experience. However, the benefits of improving the customer experience go beyond just getting better reviews. Ultimately, many of the same things that help your guest experience also end up helping support restaurant operations as well.

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Modern Restaurant Management

APRIL 12, 2022

RMS just released our latest findings around consumer sentiment for Q1 , which revealed, among other things, that price is starting to matter—and not by an insignificant amount. When asked why they were getting less value from a restaurant visit, 82 percent reported higher prices. The sentiment has changed rapidly.

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EATER

FEBRUARY 27, 2024

Fast food chain Wendy’s has announced plans to test “dynamic pricing” at its locations across the country, beginning in 2025. According to CNN, the move is a part of the chain’s $20 million investment in digital menu boards, which will allow it to tweak the price of a Biggie Bag or Frosty in real time. If so, you’re in luck!

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Pricing Food Loyalty Program 2025 132

7 Shifts

MAY 23, 2024

This proves that any restaurant business owner who wants to survive in this economy should be open to trying unconventional sales strategies to attract customers and continue making a profit. Once in your customers' hands, this piece of paper can directly influence what your diners order and how much they spend in one sitting.

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Modern Restaurant Management

MAY 21, 2024

Rethinking Beverages The typical drink upsell—soft drinks and coffee or tea—has decreased over the past few years as customers increasingly eat restaurant food at home. During a time of increased price sensitivity, beverages create an opportunity to increase the total check. What’s on the Menu?

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Perfect Daily Grind

SEPTEMBER 22, 2022

Over the past year or so, coffee prices have been steadily increasing. The first sign that prices would increase was a sudden frost which hit some of Brazil’s major coffee-producing regions in late July 2021. Since then, prices have consistently remained above the US $2 mark. Exploring prices and costs at origin.

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Pricing Retail Supplies Point of Sale 184

Culinary Cues

NOVEMBER 20, 2023

One of the most difficult tasks that any restaurateur or chef faces is convincing a customer to walk through the door for the first or twentieth time. Every restaurant knows that once a customer walks through the door a sale of food and beverage will likely result. Restaurants need to share this with their community of businesses.

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Customer Experience Customer Service Food Safety Retail 362

ChowNow

FEBRUARY 11, 2020

While customers might initially be delighted by the array of choices they have, the prices will leave them shocked and disappointed. In fact, for nine out of every ten of these newly added restaurants, customers are paying higher prices and having lower quality experiences. The customer ends up paying $16 in fees.

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Chowly

JUNE 7, 2023

At times, demand can become so intense that some operators turn off some of their distribution channels rather than run the risk of having dissatisfied customers. It’s called smart pricing. It’s a powerful way restaurants can maximize their revenue and profits with a “right price at the right time” model.

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Ken Burgin

OCTOBER 19, 2021

Operators still holding the price of meals to what they were 12 months ago are bearing the brunt of massive increases in the cost of ingredients. Setting prices is approached with fear and anxiety by many restaurant and cafe operators, but it’s a unique opportunity to use your marketing and financial skills and make more money.

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Hot Schedules

JULY 15, 2021

Mitigating Cost Price Inflation Via Supplier Management. T echnology alone can’t affect the causes of cost price inflation. It’s good for customers too, as dishes are consistent and quality control stays high. Which leads to a better experience — and repeat visits. First, let’s talk about supplier lists. Related Posts.

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Perfect Daily Grind

MARCH 21, 2023

And while these actors can certainly play an important role, their presence in the supply chain can often mean that producers end up receiving a smaller percentage of the final price of each cup of coffee. As part of this, farmers can receive higher prices for their coffee. This is especially important to note.

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Future Food

MARCH 5, 2019

Customers Demand Authentic Hospitality Experiences - Every time Let’s start off by saying that commercial hospitality is everywhere we look. We are looking for the same thing – an authentic and positive food and beverage experience. Today’s customer is demanding a positive experience in equal parts, food, service and price.

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Customer Experience Hospitality Coaching Customer Service 99

Apicbase

APRIL 13, 2023

Restaurants often cater to their most loyal patrons , and because loyal and first-time customers alike tend to pay attention to how much they’re paying for their food, changing menu prices is risky business for restaurants. As a result, dynamic pricing in restaurants hasn’t been common in the past. What is Dynamic Pricing?

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Pricing Technology Loyalty Program Seasonal Menu 98

Goliath Consulting

AUGUST 28, 2020

With how the restaurant industry looks right now, from shifting consumer behavior and volatile demand, strategically pricing a menu has never been so complicated, nor so important. Talk to your vendors about commodity price trends that impact your menu. Determine the pricing elasticity of items.

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Pricing Menu Food Supply Food Safety 158

Culinary Cues

AUGUST 21, 2023

It was interesting, somewhat absurd, but life changing for those in the profession and for the way people viewed the restaurant experience. The entire experience was elevated and so were prices. People traveled cross country to experience these chef extravaganzas. Yeah, sounds like a great battle cry, doesn’t it?

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Veloce POS Blog

OCTOBER 18, 2023

Offering a remarkable menu, unbeatable beer prices and a relaxed atmosphere, Blaxton is a benchmark for food quality, a variety of local products and ambiance. The post How Blaxton Pub & Grill improved efficiency and customer experience with PayFacto and Veloce POS appeared first on POS Veloce HQ.

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Modern Restaurant Management

MAY 8, 2024

Operators must weigh guest acceptance while making strategic decisions about integrating automation at many restaurant touch points, according to Software Advice’s 2024 Automated Customer Experience Survey. Prices for real estate, inventory, and labor are rising. What can restaurant operators learn from these results?

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Front of House Mobile Ordering Customer Service FOH 186

7 Shifts

DECEMBER 18, 2023

When customer complaints or employee concerns come up, each manager can get up to speed just by reading the log book. Kiosk ordering Your busy customers don’t always have time to wait in line. Many customers also appreciate the quick and user-friendly process of ordering on a kiosk.

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Management Management Email Marketing Point of Sale 398

Modern Restaurant Management

APRIL 10, 2024

Adapt to Growing Price Fatigue Since the pandemic, controlling food costs has been a major challenge for restaurant operators. When prices for staple ingredients like chicken rose dramatically in 2023, restaurant operators were forced to increase their prices. Full-service menu prices climbed 4.5

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Restaurant Engine

JULY 28, 2021

You want to price your daily dinner specials just right for repeat business. You know that offering your customers specials is a terrific marketing tool. It increases customer loyalty and retention. Yet, it can be hard to know where to go with pricing. The menu price. Know What Your Customers Want.

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Culinary Cues

APRIL 22, 2024

Shrinkflation” is a descriptor for reducing the size of packaged goods while either keeping selling prices where they were or raising prices while portions are being reduced. Grocery stores try to eliminate cashier positions (yes, I know how hard it is to find help) and opt for self-check-out but do so without lowering prices.

Consumer Goods 284

Consumer Goods Pricing Customer Experience Hospitality 284

Xtra Chef

FEBRUARY 5, 2020

Menu pricing can seem daunting. To start, it’s a numbers game that involves calculating plate cost and a target menu price. But successful menu pricing is so much more than this. In this post, you’ll learn how to price a menu by considering all factors that determine your position on a price continuum.

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Pricing Menu Point of Sale Customer Service 102

Lavu

MAY 12, 2022

If you run a fast casual or quick service restaurant, you have the option of improving the customer experience by using self-order kiosks. Pricing & Considerations Read More ». Pricing & Considerations appeared first on iPad Point of Sale System for Restaurants, Bars & More.

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Pricing Ordering Fast Casual Point of Sale 113

7 Shifts

FEBRUARY 8, 2024

A full 55% of consumers consider takeout and delivery essential to their restaurant experience. ChowNow ChowNow is a customized online ordering app for restaurants. For newer restaurants hoping to bring in new customers, this app can be an effective way to get found by area visitors and locals alike.

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Operations Management Management Mobile Ordering 367

7 Shifts

FEBRUARY 8, 2024

A full 55% of consumers consider takeout and delivery essential to their restaurant experience. ChowNow ChowNow is a customized online ordering app for restaurants. For newer restaurants hoping to bring in new customers, this app can be an effective way to get found by area visitors and locals alike.

Operations 353

Operations Management Management Mobile Ordering 353

Restaurant365

JANUARY 4, 2022

Restaurant inventory management plays a key role in overcoming rising food prices. Logistics challenges and labor shortages have fueled rising food prices at the wholesale level. Data from the Bureau of Labor Statistics showed the November Producer Price Index, a measure of wholesale prices, up 9.6% from a year ago.

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Inventory Pricing Management Management 148

The Restaurant Times

FEBRUARY 7, 2023

Menu pricing is one of the most underestimated aspects of restaurant management. If your customers don’t think the prices on your menu are reasonable, how great your concept or your food is won’t matter much. This is where the concept of dynamic pricing comes in to help restaurants!

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Modern Restaurant Management

JANUARY 8, 2024

QSRs Shift Focus from Slow-Paced Dining to Swift, Transactional Experiences Quick Service Restaurants (QSRs) are reimagining their dining spaces to prioritize speed, convenience, and personalization over traditional, slow-paced dining experiences. For the second part, click here.

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Modern Restaurant Management

DECEMBER 20, 2023

While there was a strong desire to return to pre-pandemic norms, many businesses underestimated the lasting impact of COVID-19 on customer behaviours and preferences. Customers displayed a pronounced preference for flexibility, seeking the capability to modify loyalty programs in response to evolving consumer trends and demands.

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Modern Restaurant Management

MARCH 12, 2024

To reduce menu confusion and minimize price sensitivity, Ori’Zaba’s Scratch Mexican Grill recently rolled-out a rengineered and easier-to-read menu. The Ori’Zaba team told Modern Restaurant Management (MRM) magazine they watched people walk in and have a physical reaction to the three pricing tiers. Double Your Meat!”

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Modern Restaurant Management

JANUARY 22, 2024

But precisely, how can you determine what customers want? How can you adjust your B2C marketing strategy to align with their needs and provide an elevated culinary experience? Businesses must remain ahead of the curve by checking all the correct boxes as customer tastes evolve at an unparalleled pace.

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Loyalty Program Dietary Restrictions Mobile Ordering Social Media 157

Culinary Cues

JULY 22, 2021

Restaurants are open, and customers who have been prisoners of the pandemic are anxiously coming out of their shells and flooding to restaurants that are ill equipped to deal with the surge. As challenged as restaurants are right now, there must be an all-out effort to demonstrate value and to provide a positive experience.

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Culinary Cues

JANUARY 23, 2021

How you approach profit will determine what your physical plant will look like, the scope of sophistication in your kitchen, who your vendors will be, how many employees you will hire and the depth of their experience, where you advertise and how much you invest in that, your table top appointments, and even your hours of operation.

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Modern Restaurant Management

OCTOBER 24, 2023

Surging prices have been top of mind for consumers for two years and counting, leaving restaurant leaders questioning how inflation might influence diners’ behavior and overall spending habits, including their usage of digital ordering and third-party delivery apps– both of which gained momentum during the pandemic.

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