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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.

2023 197
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Why Restaurants Should Prioritize Technology In 2023 Budgets

Modern Restaurant Management

Come 2023, it will be increasingly important for restaurants to factor technology into their budgets to adapt to the changing economic landscape and better meet consumer demand. In 2023, consumers will be more cost-conscious due to inflation and limited wallet share. However, when the pandemic hit, people were less sensitive to prices.

2023 201
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Dining in the Digital Age

Modern Restaurant Management

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.

Dine-in 197
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How F&B Companies Can Mitigate Some of the Industry’s Biggest Risks

Modern Restaurant Management

In fact, according to the Business Research Company’s 2023 Food and Beverages Global Market Report, the global industry’s market size grew over 7.3 billion in 2023 in one year alone. Not to mention a tarnished brand reputation that can have negative impacts on consumer loyalty for years to come. percent from $6,729.54

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Digital Dining: What Restaurants Need to Know Now

Modern Restaurant Management

In February 2023, our Revenue Management Solutions (RMS) data analytics team advised on the benefits of attracting and keeping frequent diners. According to our Q1 2023 survey , frequent users were not just visiting QSRs; they planned to keep visiting. But don’t just take our word for it. Why does this matter to your bottom line?

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2024 Outlook: Restaurant Trends and Challenges, Part Three

Modern Restaurant Management

Other advancements include: integrating data from various sources, including social media, reviews, and loyalty programs, to gain a holistic view of customer behaviour as well as as well as the implementation of real-time analytics for immediate insights into customer behaviour and preferences. Nothing is fraud proof.

2024 215
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Restaurant Marketing Has Evolved: Unlock the Preferences of the Modern Customer

Modern Restaurant Management

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. A Restaurant Pulse Check by Vericast found that nearly half of consumers plan to spend less on dining out in 2023. And as of May 2023, OpenTable is now connecting more than 1.5

Marketing 197