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These trends reflect a broader shift towards faster, more efficient, and integrated payment solutions that cater to growing consumer demands for convenience, security, and personalization. According to Statista , the global online food delivery market size was valued at $151.5
The research stems from in-person chef interviews and a nationwide survey of more than 400 restaurant owners and operators spanning 47 states with respondents ranging from fine dining establishments to fast-casual venues, breweries, and caterers. "This Despite pricing adjustments, profitability remained challenging in 2024.
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.
More closures in 2023 could reduce the number of restaurants to about 630,000 locations. In August 2023, only eight percent of consumers we surveyed say they do not eat out, so dining out is “in” again. In Causeway Solutions’ September 2023 survey*, we asked more than 800 U.S.
Modern Restaurant Management (MRM) magazine asked experts for their thoughts on trends and challenges that will affect the restaurant industry in 2023. "With consumer behaviors now firmly established around off-premise dining solutions due to the pandemic, off-prem will remain a prevalent option for 2023. For part two, click here.
In 2023, the restaurant industry faced several challenges and made some missteps along the way. As with most other industries, the biggest talking point for restaurants in 2023 has been artificial intelligence. Co-founder, Carbonate Looking back at 2023, I witnessed a significant shift in how restaurants approach loyalty programs.
The shrunken labor pool inflation, turnover, and technology, all make up the stew that operating a restaurant is in 2023. But those who are qualified to speak on the subject are the ones doing the work day in and day out trying to untangle the web that is restaurant management in 2023 and beyond.
Experiential dining, plant-based menus and sustainability were hot topics in the Les Dames d’Escoffier International (LDEI) 2023 Trends Report. Among the findings: Casual experiential dining appeals on many fronts to consumers of varying ages in different parts of the country looking for affordable culinary experiences.
In this edition of MRM Research Roundup, we feature news about an influx of catering orders, the topic of tipping, the rise of kiosks and affordable Michelin restaurants. Among the highlights: On or Off Prem Same-store catering transactions increased +71 percent in Q4 2023 compared to Q4 2022. Total tips averaged 18.9
” – Dean Drako, CEO of Eagle Eye Networks 2023 served up a year of resilience and innovation for restaurants, as they adapted to shifting landscapes and embraced new dining paradigms. The data collected will help create future strategies to identify customer preferences influencing a company's sales and marketing strategies.
Fast-casual visits overall were down 3.8 Strong consumer interest in prepared foods, commissary and beverage options has led convenience stores, often referred to as c-stores, to compete much more aggressively with quick service restaurants and fast-food chains. In December, QSR restaurants overall saw visits decline 2.9
This trend reflects the growing popularity of drive-thru and fast-casual dining, coupled with the demand for digital technologies such as QSR digital signage and QR codes. As the trend of digital nomadism continues to rise in the future, catering to this growing demographic becomes increasingly important.
For example, customers at a steakhouse may be willing to spend more for a fancier cut of meat, versus a fast-casual restaurant customer who may prioritize paying for convenience. In fact, a 2023 study from ASI reported that the average branded t-shirt garners 5,053 impressions over its lifetime.
Who among us hasn’t ordered food through a convenient mobile application, with menu choices ranging from not just quick-serve or fast-casual restaurants, but convenience stores as well? The company is catering to changing customer needs and preferences and positioning itself as socially responsible and sustainable.
Casual Dining Preferences Market Force Information unveiled a survey on casual dining preferences across the United States highlighting shifting trends influenced by economic factors and evolving consumer tastes. More broadly, catering is a strong revenue driver for restaurants.
In a State of the Restaurant industry report, the Natiional Restaurant Association sees a return to normal with predicted sales growth in 2023. million by the end of 2023. Competition is heating up : In 2023, 47 percent of operators expect competition to be more intense than last year. "The
Highlights from this year’s study, which surveyed more than 1,100 consumers in November of 2023, included: Gift Card Spend Returning to Normal – Consumers said that gift card spending is bouncing back, with 69 percent of consumers purchasing the same amount of gift cards or more in 2023 compared to 2022. percent in 2023.
Designed to serve up to 12 people, the box provides a convenient, compact and stress-free catering option that even includes the serving materials. “Menu innovation sits at the forefront of our plans for 2023,” said Mark Parmerlee, president and chairman of Golden Chick. Three family-sized sides. ”
A 2023 study by Toast found that 30 percent of staff in the restaurant industry are at risk of leaving in the next two years, highlighting an equally concerning high turnover rate within this sector. From 2023, consumer spending has been steadily increasing and is set to continue into 2025. percent year-over-year, compared to 0.4
QSRs, coffee shops, fast-casual restaurants, and full-service establishments all have one more opportunity to win over new diners and achieve record revenues. The rewards could be sweet; Mastercard’s Spending Pulse report projects that 2023 holiday spending at restaurants will be 5.4 percent more than in 2022.
Ike’s Love & Sandwiches is ranked #12 on FastCasual’s Movers and Shakers 2021 list. The group plans to grow both Ike’s and Bangin’ Buns through franchising starting in 2023. The team currently operates over 80 Ike’s Love & Sandwiches locations across the United States. Arlington, TX.
Adding to the 20 Noodles & Company locations in the metro Chicago market, the ghost kitchen will help reach a new customer base through its digital channels and give the fast-casual brand a presence in-between local locations. "We're flip'd by IHOP. Grab-and-go salads and wraps, freshly baked goods and more.
By Kateryna Reshetilo, Contributor Are you a restaurant owner looking for ways to keep up with the fast-changing demands of your customers? from 2023 to 2030. Are you serving fine dining patrons seeking a premium experience, casual diners looking for convenience, or a mix of both? If so, you’re not alone.
His previous experience also includes acting as CFO and controller for numerous hospitality and fastcasual brands such as Rubio’s, Carl’s Jr., Fastcasual restaurants continue to outpace industry growth and we see a great deal of opportunity for business owners in this urban market.” and Del Taco.
In 2023, the restaurant industry faced challenges and opportunities in the lingering aftermath of the COVID crisis, with the impact further shaped by emerging 2023 food trends. Dining experiences in 2023 transcended food and crossed over to active play, creating a hip fusion embraced by niche markets. Eat’s a New Day!
The best performing segments during November were those whose sales are the most negatively affected by Thanksgiving: fastcasual, upscale casual and casual dining. Expect for casual dining, upscale casual and fine dining to have abysmal sales and traffic growth numbers. First, at 2.1
We are seeing that the HORECA Middle East industry (Hotels, Restaurants, and Catering) continues to grow but in different ways, and operators are having a hard time identifying where the opportunities are. The Red Sea hospitality and tourism project includes 16 hotels offering three thousand rooms — 12 of these hotels are opening in 2023.
Current figures from ABS report a low point, from June 2022 to June 2023 there has been a 12.7% Pacific Square in Maroubrah has developed an on-point program called ‘Savour Saturday’, running from July to November 2023 as part of a live cooking show and demonstration. Ali & the Queen, Queen Victoria Market, Melbourne.,
Current figures from ABS report a low point, from June 2022 to June 2023 there has been a 12.7% Mini Gun Pacific Square in Maroubrah has developed an on-point program called ‘Savour Saturday’, running from July to November 2023 as part of a live cooking show and demonstration. Ali & the Queen, Queen Victoria Market, Melbourne.,
Food and beverage choices are interconnected with mental and emotional well-being,’ according to the International Food Information Council’s 2023 Food and Health Survey, 74% of respondents stated that their stress levels, mental health and well-being is impacted by their food and beverage choices.
They include a variety of formats such as fast food restaurants, food trucks, and smoothie bars, each catering to specific consumer needs with a focus on quick preparation and minimal wait times. It is even estimated that fast food will experience a compound annual growth rate (CAGR) of 7.1%
2023 has been a challenging year for restaurant operators, caught as they were between rising food costs and labour shortages. In a 2023 survey, 29% of operators said they are very likely to open new locations in 2024. Most operators raised their menu prices in 2023, but fewer expect to do so in 2024. million in 2021, to $974.9
Food and hospitality is a secure asset category and the food dollar is being targeted by many new players in Australia and New Zealand including hotels, dark kitchens, catering and hospitality groups and a range of restaurant chains that see their food-services as multi-revenue streams.
COGS Are Key as Hiring Pressures Decline In 2024, 16 percent of operators say analyzing and managing the cost of goods and services and supplier and vendor management are top pain pointscompared to 12 percent in 2023. Fast food dominates takeout, with 60 percent of Americans choosing it as their preferred option for ordering meals at home.
The best performing segments during Q4 (and those that achieved positive same-store sales growth) were family dining, fine dining and upscale casual. Upscale casual also achieved positive sales growth during Q4 but experienced a small dip in sales for the entire year compared with 2018. For more information, click here.
Another recent study conducted by the Center for Biological Diversity found that offering earth-friendly catering that focuses on low-carbon, plant-based choices can save wildlife habitat and decrease climate pollution. Some trends the industry is seeing include: To Infinity & Beyond…MEATS. “With the D.C.
Restaurant leaders representing nearly 3,700 QSR, fastcasual, casual dining, and fine dining locations shared 2024’s top challenges and opportunities alongside plans for investment in back-of-house technology, increased sales, and team training, benefits, and support.
Catering is still a promising source of revenue for restaurants, hotels and venues to continue to capitalize on. One in three respondents shared that they still plan to host their event at home, with 51 percent of those respondents stating they will be catering their at-home event. The Great Restaurant Restart.
At the beginning of 2024, the NRA reported that 73% of operators expected profit to be less or the same over the year, with 38% saying they didn't make any profit in 2023. Quick-service restaurants—like cafes, fast food, and fastcasual—are estimated to have decent profit margins with lower food and labor costs.
Diners in 2023 are both old-fashioned and upscale, omnivore and vegan-friendly, 24-hour and breakfast-only. They cater to LGBTQ+ communities and also to the blue-collar worker in need of a chili dog , the Route 66 road-tripper, and the underaged kid scooping up forkfuls of banana cream pie purchased with their last $5 after a concert.
Nearly half (47 percent) of diners say they engage with loyalty programs at least once a week, up significantly from just 34 percent in 2023. This year, diners reported spending $54 on average when eating out at a restaurant – up from $48 in 2023. Fastcasuals follow with 36 percent prioritizing direct digital channels.
” Fast-Craft Restaurant Concept Set to Have 50 Locations Open by the End of 2022. Similarly, incentives are also offered to candidates who pull through on existing deals in 2022 that were initially positioned for 2023 and later. The brand is selling territory fast and does not plan to slow down its rapid momentum.
Within QSRs, fast-casual restaurants led the way, growing transactions by 2 percent in March. State of the Plate Olive Garden is the most popular casual dining restaurant with Americans in 2025, with 19 percent having dined at the Italian-themed restaurant in the past 90 days, according to a new report from YouGov.
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