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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. As with most other industries, the biggest talking point for restaurants in 2023 has been artificial intelligence.
Modern Restaurant Management (MRM) magazine asked experts for their thoughts on trends and challenges that will affect the restaurant industry in 2023. Having a single supplier and point of support for all the store technology and payment processing functions also reduces administrative burden and risk. For part two, click here.
Those priorities include increased marketing and sales efforts alongside new benefits and programs to attract and retain staff. Despite potential challenges, the industry is both optimistic, as total restaurant sales crested $1 trillion for the first time on record, and ready to pivot to continue growing.
Systemwide sales fell 5.3% When we spoke to younger customers, we found that Perkins is just not as relevant,” said Ascent CEO James O’Reilly, who joined the company in 2023. All photos courtesy of Ascent Hospitality Management A pair of legacy family-dining brands are out to prove that age is only a number.
Continue to Site >>> Menu C-stores are stealing fast-food tactics. Not quite yet An easy way to bring bold Korean flavors to modern menus From BBQ to beverages, menus are seeing a lot of action Food C-stores are stealing fast-food tactics. Sounds like the hallmarks of any solid fast-food restaurant. By Heather Lalley on Jun.
In a statement, the owner and operator of 39 domestic restaurants in the casual dining chain, says its expects to use the time and legal protections made available through the Chapter 11 restructuring process to allow the company to explore strategic alternatives in order to ensure the long-term viability of the brand. "The
” On the positive side, Revenue Management Solution's end-of-year trends suggest performance remained stable compared to previous quarters, and sales are positive. Net sales are primarily driven by average check increases and pricing opportunities are diminishing. percent in December 2023 vs. 6.5 percent in Q4 2023.
Fifty-one percent of adults say they aren't eating at restaurants as often as they would like, which is an increase of six percentage points from before the pandemic. Fifty-one percent of adults say they aren't eating at restaurants as often as they would like, which is an increase of six percentage points from before the pandemic.
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
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. Consider, for instance, a scenario in which your Point of Sale (POS) system can forecast the popularity of a new dish based on historical customer behaviour.
In this edition of MRM Research Roundup, we feature pizza predictions, Valentine's Day menu trends and lots about loyalty. Pizza Ordering Predictions HungerRush released the results of a national dining survey on 2024 pizza ordering predictions for The Big Game (February 11) and National Pizza Day (February 9). Fifth place goes to guacamole.
We've reached a point where we're recognizing the value and limits of these technologies. And while automation and robotics can help streamline some elements of operations, in the wake of the COVID-19 pandemic, there's a newfound appreciation for human connection and dining experiences.
Pizza Today , the leading magazine for pizzeria owners and operators, released its annual State of the Pizzeria Industry Report, which provides pizza professionals with a deep dive report of pizzeria insights, issues, and trends for 2023. The same applies to point-of-sale (POS) systems and kitchen automation.
The brand’s commitment to each guest service experience is the focal point of upcoming menu innovation, value-based choices, and a portfolio of new organic food and beverage educational content. Additional 2020 Award Recipients: Top Delivery Sales : Lance and Blake Condray, Campbell, CA. million guests.
Sixty-three percent of adults have worked in the restaurant industry at some point in their lives. Sixty-three percent of adults have worked in the restaurant industry at some point in their lives. This is the first time on record that demand has reached this level two summers in a row.
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. This insight highlights staffing issues as a concerning and current challenge faced by US F&B businesses.
Ike’s Love & Sandwiches is ranked #12 on FastCasual’s Movers and Shakers 2021 list. “We owed this rebrand to our fan-base of customers, franchisees and budding investors to experience our brand in an optimized and energized way.” ” Ike's Loves Bangin' Buns.
Q4 Restaurant Trends Toast released its Q4 2023 Restaurant Trends report that examined catering activity around the holidays, large events, cold-weather food and alcohol preferences, and weekly tipping trends. Among the highlights: On or Off Prem Same-store catering transactions increased +71 percent in Q4 2023 compared to Q4 2022.
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. Comprehensive analytics dashboard for insights into customer preferences and sales trends. If so, you’re not alone. Inventory management to keep track of stock levels.
“Both full-service and fast food restaurant customers are skewing a bit more toward higher income levels and college graduates,” says Forrest Morgeson, Associate Professor of Marketing at Michigan State University and Director of Research Emeritus at the ACSI. Olive Garden is next among major chains, up four percent to 83.
Like Johnson’s fast-casual rice bowl restaurant, Field Trip, the food at Bankside was developed with delivery in mind. It’s called Bankside, with a menu that includes peel-and-eat shrimp, clam chowder, crispy cod sandwiches, and a lobster roll. Locked in the kitchen” is hyperbole, but the micrograms aren’t.
Modern Restaurant Management (MRM) magazine's Franchise Feed offers a glimpse at what's new in the restaurant franchise and MUFSO environment. Send news to Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com. The safety of Dunkin’ franchisees, their restaurant employees, and guests remains a top priority.
Out of the Box: February 2025 In This Issue: The Big Picture: Sales and Traffic Trends February 2025 Restaurant Industry Performance Trends In Detail Segment Focus QSR: Current Performance Trends -2.5% Comp Sales -5.7% Comp Sales -5.7% Sales +0.1% +0.6% +0.4% -0.1% -2.3% -0.4% +0.4% +0.5% +2.8% -0.3% +2.5% -2.5%
Topline numbers show robust restaurant sales growth during November. Same-store sales growth was 1.6 percent in November, which represents the third consecutive month of positive sales growth and the strongest since January. Thanksgiving typically represents lower sales volumes for most industry segments.
Comp Sales -3.2% Comp Traffic Best Region: New England Best Segment: Family Dining Best Cuisine: Breakfast Worst Region: NY-NJ Worst Segment: FastCasual Worst Cuisine: Sandwich The December 2024 Restaurant Industry Trends + A Year in Review 2024 saw many ups and downs. Same-store sales growth in December: -0.3%
Comp Sales -2.5% Sales +1.9% +2.3% -4.5% -0.6% +0.1% +0.6% +0.4% -0.1% -2.3% -0.4% +0.4% +0.5% Same-Store Sales Growth: Turning the Tide October’s same-store sales growth reached 0.5%. in 2023 and an unusually large 9.0% This is aligned with brands’ push to emphasize value and competitive price points.
Out of the Box: April 2025 In This Issue: The Big Picture: Sales and Traffic Trends April 2025 Restaurant Industry Performance Trends In Detail Segment Focus FastCasual: Current Performance Trends 1.1% Comp Sales -1.5% Bottom line: Black Box Intelligence data shows same-store sales growth for the industry at 1.1%
Some of these apps are designed to solve specific problems, like shift scheduling or point of sale , while others boast all-in-one suites for every aspect of restaurant management. You can view data on labor costs versus sales over time to make intelligent decisions on how many staff you’ll need clocked in at different times.
Best and worst performing region, segment and cuisine is based on same-store sales growth. On the surface, 2023 started off extremely well for restaurants, with sales and traffic growth experiencing a remarkable improvement compared with previous months. As a result of these easy comparisons, same-store sales jumped to +14.2%
Comp Sales -2.5% Comp Sales -2.5% Sales +2.3% -4.5% -0.6% +0.1% +0.6% +0.4% -0.1% -2.3% -0.4% +0.4% +0.5% +2.8% Same-store sales and traffic growth this November were calculated compared to November 2023. As a result, sales and traffic were lower in November of 2023. Same-store sales growth: +2.8%.
And what they are saying is this: 2023 will be the year of driving smarter efficiencies and reducing technology proliferation through the use of more unified systems. That’s the key takeaway from Qu’s fourth annual survey of quick service restaurants (QSRs) and fastcasual brands with more than 25 locations. Let’s take a look.
That’s why we’re dubbing 2023 The Year of Efficiency. The industry has reached a turning point. 1) More predictable digital sales will enable operational efficiency. 1) More predictable digital sales will enable operational efficiency. For the most in-depth analysis, download the full report.
We had traditionally sit-down and quick-serve, and then fast-casual kind of birthed in the middle. And they've built a strong foundation with their culture of care, one that permeates through all aspects of their business. But first, Newton tells us a bit about how the industry has changed during his two-decade career.
There's room for fast food chains, fine dining restaurants, and casual dining restaurants, steakhouses, falafel spots, taco trucks. The most important piece of technology is the fine dining POS , which gives operators accurate sales data to help make key business decisions. The restaurant industry is a big tent.
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. Let’s dig in.
restaurant industry continues to evolve and is on the brink of passing a historical $1 trillion in sales , with certain business models standing out for their profitability. Fast food restaurants Fast food restaurants are some of the highest profit margin restaurant businesses to open due to their low operating costs and high customer demand.
Economic Growth Will Continue to Shape the Middle East HORECA Landscape Economic Indicators Encourage Hotel/Restaurant/Catering Sales Generally, the HORECA industry grows at the pace of GDP growth, population, inflation, and share of discretionary income. Hotel sales grew 23% over 2022, and Restaurants & Cafés grew by 17%.
Best and worst performing region, segment and cuisine is based on same-store sales growth. Restaurant Sales Growth Weakest Since July Restaurants saw their year-over-year same-store sales and traffic growth fall for the third consecutive month in April. Same-store sales growth was 1.3% Same-store sales growth was 1.3%
Restaurant Point-of-Sale Companies Rethinking Their Go-to-Market Strategies Restaurants have been historically slow to adopt technologies. Restaurant Point-of-Sale Companies Rethinking Their Go-to-Market Strategies Restaurants have been historically slow to adopt technologies.
And automated order taking, well, it is going to be one of the top trends in the restaurant industry in 2023. . According to FastCasual research , 8 out of 10 US customers use voice search to locate restaurants. Or you could set up self-checkout kiosks and fast-food joints. . Why would you not want to capitalize on this?
Most Restaurants Increased Sales in 2024 Approximately 63 percent of restaurant operators that manage finances said their profits in 2024 increased compared to last year. Inflation (or the increased costs of goods and services) is still a top pain point for operators (15 percent).
Monthly Restaurant Trends Review Out of the Box: May 2025 Same-store sales growth was 1.4% Comp Sales -1.0% Monthly Restaurant Trends Review Out of the Box: May 2025 Same-store sales growth was 1.4% Comp Sales -1.0% Monthly Restaurant Trends Review Out of the Box: May 2025 Same-store sales growth was 1.4%
They’re durable and flexible enough to go from fastcasual to fine dining. Ideally, your system needs SSL (Secure Socket Layer) protection and point-to-point encryption (P2PE). Restaurant industry experts have seen a massive shift in 2024 toward iPad-based POS systems. In the kitchen, though, bigger is better.
Best and worst performing region, segment and cuisine is based on same-store sales growth. Restaurant same-store sales growth was 3.2% percentage points in year-over-year growth compared to February. Restaurant same-store sales growth was 3.2% percentage points in year-over-year growth compared to February.
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