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Keeping Up with Diners’ Expectations Amid Rising Prices

Modern Restaurant Management

Not only do these innovations allow team members to focus on more value-added services for the customer, but consumers are able to explore the menu at their own pace and customize their orders as they wish. Although some of these innovations aren’t completely baked out, similar technologies exist.

Pricing 195
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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 197
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Is There a Right Way to Raise Prices?

Modern Restaurant Management

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.

Pricing 194
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Could Surge Pricing Actually Make Fast Food Better?

EATER

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!

Pricing 133
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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 201
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Innovation, Cup by Cup: The Starbucks Sustainability Approach

Modern Restaurant Management

My vision as a climate advocate and inventor-turned-entrepreneur is to create innovations that reduce environmental impact. That’s why holistic, sustainable innovation is so important. The switch to more sustainable practices isn’t an easy one, and the perceived price increase is often what deters many businesses.

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Menu Engineering: Innovating Menus for Profitability and Simplicity

Aaron Allen & Associates

In the dynamic landscape of the restaurant industry, one of the most critical challenges is striking a balance between offering innovative menu items and maintaining a simplified, navigable menu. Many restaurants had to trim their menus during COVID and haven’t had a chance yet to make updates or innovate on menu items. LTOs per week.