article thumbnail

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 196
article thumbnail

Keeping Up with Diners’ Expectations Amid Rising Prices

Modern Restaurant Management

With loyalty programs giving diners access to special deals and third-party delivery services charging additional, unwanted fees, consumers prefer to go directly to the source for takeout orders. They also want convenience and frictionless digital experiences. Most prefer to order through the restaurant’s website or mobile app.

Pricing 197
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

How does foreign exchange affect the price of coffee?

Perfect Daily Grind

For the most part, both the price of arabica and robusta rely on futures contracts. These are legal agreements to buy or sell a particular commodity at a predetermined price on a set date. Fluctuations in the market can influence prices paid by roasters and consumers and prices paid to farmers, as well as their production costs.

Pricing 172
article thumbnail

Mitigating Cost Price Inflation Via Supplier Management

Hot Schedules

Mitigating Cost Price Inflation Via Supplier Management. T echnology alone can’t affect the causes of cost price inflation. These allow them to set fixed pricing agreements, such as guaranteed prices for an item over a given period irrespective of market fluctuations, or rebates once certain order quantities have been met.

Pricing 148
article thumbnail

Relationships are about more than just paying a good price for specialty coffee

Perfect Daily Grind

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.

Pricing 176
article thumbnail

MRM Research Roundup: Price Wars, Influencer Impact and No-Show Fees

Modern Restaurant Management

As a result, they are making hard decisions to adjust prices and make menu changes. Diversify media mix: An omnichannel presence provides optimal reach and the widest range of information sources. For noncommercial operators (51 percent) and those in full-service restaurants (55 percent), menu enhancement is also a must as a motivator.

article thumbnail

Restaurants Diversify Cooking Oils and Optimize Operations as Prices Soar

Cheetah

Cooking oil prices reached an all time high this October. Operators are diversifying oil types and supply sources, while adjusting menus and learning how to prolong fry life. . Cooking Oil Prices Triple amidst Global Shortages. The first years of the pandemic came after nearly 6 years of low vegetable and crude oil prices.

Pricing 148