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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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Why Restaurants Should Prioritize Technology In 2023 Budgets

Modern Restaurant Management

Between dining restrictions, inflation, and the ongoing labor shortage, many businesses have been forced to close their doors, change their operations, or otherwise look for alternative solutions. However, when the pandemic hit, people were less sensitive to prices. It's Time for Innovation.

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Building the Value Equation as We Approach the Price Ceiling 

Modern Restaurant Management

Striking a balance between value and price. Is it possible to strike a balance between value and price to satisfy both parties? To answer that question, Revenue Management Solutions (RMS) examined two factors: the impact of price increases on QSR sales performance and consumers’ perception of value. Is it possible?

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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 Reflections: The Year That Was in Restaurants, Part Three

Modern Restaurant Management

In 2023, we saw sellers increasing throughput utilizing the “experience creates consumption” strategy and we predict an increase in draft program profitability in 2024 as more on-premise professionals embrace the needs of the highly coveted craft beverage loyalists.

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Restaurant Startup Growth and Business Outlook for 2024

Modern Restaurant Management

In all, we expect 2024 to be a better year for business than 2023 as the Federal Reserve executes the soft landing it has been seeking since this tightening cycle began. However, a tight labor market and stubbornly high food prices will continue to weigh on restaurant margins in 2024.

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Coffee News Recap, 21 Apr: Specialty Coffee Expo begins in Portland, arabica prices reach six-month high & other stories

Perfect Daily Grind

Mon, 17 Apr Colombian chain Juan Valdez to open flagship store in Madrid in May 2023. The Epoch Fulcrum is a lever-operated espresso machine, while the Epoch Helix uses a screw thread to build up to nine bars of pressure. La Marzocco opens temporary store at 2023 Design Week Milan. Here are this week’s stories.

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