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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.

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

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. In 2023, we can anticipate businesses really focusing in on value and doing what they can to attract and retain both employees and guests. For part one, click here.

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Compare: Digital Tip Payouts vs. Cash Tip Payouts in Restaurants

7 Shifts

Restaurant transactions have been moving away from cash and towards electronic forms of payment for years—and that's extending to tips now too. Americans who leave their tips digitally tip nearly 15% more than when they tip with cash. However, more digital tips means less cash passing through the restaurant on a daily basis.

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Expanding Your Business? Seven Tips to Improve Cash Flow to Fund a New Location

Modern Restaurant Management

Restaurant365’s State of the Industry Customer Survey shows that 60 percent of surveyed customers plan to expand their businesses in 2023 despite expected increased labor and food costs. It is important to consider if the first location has the cash flow to help financially carry the second location for a period of time if needed.

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Coffee News Recap, 10 Feb: ICO says coffee prices remained stable during January, Luckin Coffee opened nearly 500 stores last month & other stories

Perfect Daily Grind

International Coffee Organisation says coffee prices remained stable during January 2023. Despite a decline in global exports, the organisation reports that the ICO Composite Indicator Price fell by 0.1% Tue, 7 Feb Alliance for Coffee Excellence reschedules 2023 Indonesia auction. from December 2022.

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2024 Outlook: Restaurant Trends and Challenges, Part Three

Modern Restaurant Management

Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their views on what trends and challenges owners and operators can expect to see in 2024. This capability can prove invaluable for refining pricing strategies, optimising ingredient and waste management, and planning forthcoming shifts, among other benefits.

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Buying and Selling: Restaurants Rebound to Pre-Pandemic Market, But Interest Rates Remain a Challenge

Modern Restaurant Management

The recovery in the restaurant industry means that restaurant owners looking to sell their business in 2020, but couldn’t due to the pandemic economy plummeting restaurant values can finally sell in 2023. However, high-interest rates are pushing some prospective buyers out of the market who can’t pay with cash.

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