Modern Restaurant Management

NOVEMBER 7, 2022

Striking a balance between value and price. As inflation continues to pummel businesses and consumers, QSRs are searching for ways to make their menus work harder. Is it possible to strike a balance between value and price to satisfy both parties? Have We Hit a Price Ceiling? Putting Value Back on the Menu.

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Squirrel Systems

MAY 3, 2024

In today’s competitive dining industry, maintaining profitability while keeping prices stable is a significant challenge for restaurateurs. High operating costs, fluctuating commodity prices, and the ever-evolving preferences of guests can all squeeze margins.

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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. restaurants.”

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Focus POS

OCTOBER 18, 2021

How Your Restaurant Loyalty Program Impacts Revenues During a Shutdown. A restaurant loyalty program can engage diners, encourage repeat business and ultimately increase your market share. The Basics of a Restaurant Loyalty Program. The Value of Loyalty Program Data.

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Sling

MAY 9, 2021

One of the best ways to keep customers coming back to sample your fare is to implement restaurant loyalty programs into your workflow. In this article, the restaurant-management experts at Sling discuss some of the best ideas and give you tips for making your restaurant loyalty program great. What Is Customer Loyalty?

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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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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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The Restaurant Times

OCTOBER 13, 2021

A good restaurant loyalty program could be a customer magnet for your restaurant. When it comes to rewards programs, customers have expectations, and if those expectations are not satisfied, it can be tough to persuade them to participate in your loyalty program. Track Rewards Points . Better Customer Relations .

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Modern Restaurant Management

MAY 30, 2023

Our recent survey on restaurant apps, loyalty and dining choices gave us insight into what your customers think. About half of respondents rely on apps for loyalty or rewards promotions, an effective and profitable way to grow your brand’s reach in these price-sensitive times. But don’t just take our word for it.

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Modern Restaurant Management

JANUARY 8, 2024

This capability can prove invaluable for refining pricing strategies, optimising ingredient and waste management, and planning forthcoming shifts, among other benefits. To capture their attention and loyalty, businesses, including restaurants, must prioritise easy access and convenience. Nothing is fraud proof.

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Modern Restaurant Management

MARCH 4, 2024

Cracking the Code of Restaurant App Usage, November 2023 ) What Customers Value RMS segmented respondents by generation, and while preferences varied, all ages placed the most value on: Exclusive deals Loyalty-based incentives Customization What They Don’t Value On the other hand, crashes or technical issues ranked as the biggest pet peeve.

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Touch Bistro

AUGUST 20, 2021

Did you know that implementing a restaurant loyalty program is one of the best ways to incentivize repeat business? In an industry that’s so closely tied to fluctuations in the economy and consumer behavior, restaurants depend on customer loyalty for survival. Benefits of a Restaurant Loyalty Program.

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Chowly

JUNE 7, 2023

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. Smart pricing encourages optimal capacity without sacrificing customers eager to patronize your business — here’s why.

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Modern Restaurant Management

JANUARY 22, 2024

Using technology to facilitate contactless payments, online ordering, and quick table rotation can increase consumers’ satisfaction and loyalty. Implement personalized suggestions, loyalty programs, and special incentives to make each diner feel appreciated and understood.

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The Restaurant Coach University

MARCH 2, 2017

We spoke to Donald Burns (aka The Restaurant Coach™) to learn why loyalty programs are a much wiser path to success than giving away your product. Their price is tied to their reputation. They don’t really care about the quality insomuch as they want a good price. There are all kinds of loyalty programs.

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Squirrel Systems

MARCH 3, 2024

In today’s competitive dining industry, maintaining profitability while keeping prices stable is a significant challenge for restaurateurs. High operating costs, fluctuating commodity prices, and the ever-evolving preferences of guests can all squeeze margins.

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Cheetah

SEPTEMBER 30, 2021

Learn how this affects your business, from restaurant suppliers struggling to keep up, to rising food prices led by labor shortages and increased consumer demand for quick, cheap food. Energy prices are very high right now too. Restaurants Deal with Rising Prices and Delays. Labor Crisis Continues. Cheetah Tip.

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Modern Restaurant Management

FEBRUARY 5, 2024

In this edition of MRM Research Roundup, we feature pizza predictions, Valentine's Day menu trends and lots about loyalty. Valentine's Menu Trends Restaurant guests heavily favor tasting menus this Valentine’s season, according to Lightspeed. percent dip in overall gratuities.

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Modern Restaurant Management

JULY 28, 2022

Loyalty Programs. When registering for a loyalty, your customers give you some of their information to qualify. Loyalty programs also allow you to collect behavioral data. If your loyalty program is set up with each of your ordering channels (in-store, online, and on your app), you can track how customers order.

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7 Shifts

SEPTEMBER 15, 2021

When guests order items that are priced slightly higher, check sizes go up, and tips in turn with them. Know the Menu, Back to Front. Use pre-shift staff meetings and staff meals to educate your team on the menus, and give them the opportunity to taste everything. Create a loyalty program. Higher tips and checks.

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Modern Restaurant Management

NOVEMBER 15, 2023

A return to work in offices and higher grocery prices due to continued inflation pressures are among the factors leading to nearly one in four U.S. Price was the top priority for all consumers, followed by menu and location. The report also explored the various factors that help consumers decide where to eat.

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Modern Restaurant Management

JANUARY 3, 2024

Moreover, in the coming year, early access to novel menu additions is set to become a sought-after offering. Restaurants will entice their customers with the privilege of being among the first to savor new menu items, creating a sense of exclusivity and fostering anticipation.

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Goliath Consulting

MAY 10, 2022

To cover supply chain costs, restaurant owners need to raise their prices. However, will raising these prices cause them to lose some loyal customers who cannot afford it anymore? Therefore, to be able to keep up with the cost of items, restaurant owners have increased their menu prices. percent over the year.”

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Modern Restaurant Management

MAY 30, 2023

Our recent survey on restaurant apps, loyalty and dining choices gave us insight into what your customers think. About half of respondents rely on apps for loyalty or rewards promotions, an effective and profitable way to grow your brand’s reach in these price-sensitive times. But don’t just take our word for it.

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7 Shifts

AUGUST 12, 2020

Work on your brand strategy Create the face of your brand You probably already have a logo, a nicely designed menu, and all the other trimmings to make your restaurant look and feel like a cohesive brand. Complete a competitor analysis This will not only inform decisions such as pricing and menu ideas—but it can serve as inspiration too.

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Modern Restaurant Management

OCTOBER 20, 2023

2023 brought new challenges to the table for the restaurant industry, from rising food prices due to inflation to continued disruptions in the supply chain. But, according to the same report, about 40 percent of consumers agree that with rising grocery store prices, it’s not necessarily cheaper to eat at home.

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SpotOn

MAY 13, 2024

  From crafting a summer menu that celebrates seasonal ingredients to offering cool beverages can enhance customer loyalty, adapting to the busy season with innovative menu ideas and online ordering can set your restaurant apart. Creating a killer summer menu is key to attracting more customers.

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Lavu

NOVEMBER 17, 2023

By staying on top of profit margins, you can make informed decisions about pricing, portion sizes, and operational costs, thereby improving your profit margins. Therefore, exploring effective ways to increase sales and carefully managing expenses, pricing, and menu offerings become vital strategies in maintaining a healthy profit margin.

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Modern Restaurant Management

FEBRUARY 17, 2023

Restaurant operators have scrambled to launch loyalty programs and subscription services in recent years – capitalizing on new technology to keep that “old” customer, often 16x more valuable than a new one. Be mindful of consumers’ time and patience so that they can reward you with loyalty.

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Modern Restaurant Management

NOVEMBER 30, 2023

Streamlining Inventory and Menu Studies show that restaurants waste an average of four percent to 10 percent of all the inventory they purchase. For instance, if table turnover rates are lagging, it might be time to train staff for faster service or tweak the menu for speedier dish preparation.

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Modern Restaurant Management

FEBRUARY 3, 2022

Inventory and Menu Management : Though 47 percent of operators say that all or most of their suppliers increased prices during the pandemic, two-thirds of restaurants maintained or increased their menu offerings. In most cases, new menu offerings involved adding takeout and delivery options.

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Modern Restaurant Management

OCTOBER 6, 2022

Data reveals that bars with happy-hour programs had an average increase in revenue of 26 percent during happy hours. Happy hour promotions can help build brand loyalty and create a sense of community around your business. Make a Special Menu, Don't Include Everyday Things. Load Up the Menu With Shareables.

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Open for Business

JANUARY 26, 2023

Before launching any new menu promotion idea, it’s a good idea to go back to basics and get clear a few basic points first. Many restaurant owners offer a percentage off a meal or specific menu item. For a fine dining Italian restaurant, it could be that fresh truffle supplements are available at a premium price for a limited time.

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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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Modern Restaurant Management

JANUARY 31, 2024

Even our Diner Trends Report found that a whopping 84 percent of restaurant goers always or often look up a restaurant menu ahead of time, and 79 percent always or often look at a restaurant’s website. Inventory : Generally, when food costs go up, operators will raise their menu prices by a small amount.

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Restaurant Engine

MAY 22, 2024

3: Offer Prix Fixe Meals You can also reserve a portion of your menu where you feature a prix fixe meal. Prix fixe is French for a fixed price and offers a meal at a set price. 4: Create a Loyalty Reward Plan This is one of the best ways to keep the corporate crowd coming back to your restaurant.

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Modern Restaurant Management

NOVEMBER 21, 2022

Additionally, menu prices at casual dining establishments rose by an average of 9 percent year over year from 2021. The decreased patronage along with inflation increases running costs, which means increased menu prices. Some implemented loyalty programs to promote recurring customers.

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