Modern Restaurant Management

NOVEMBER 7, 2022

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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Modern Restaurant Management

FEBRUARY 24, 2025

Only 14 percent of respondents described business performance as poor/very poor, which was down from 23 percent in 2023. Revenue growth in 2024 was largely driven by menu price adjustments. Despite pricing adjustments, profitability remained challenging in 2024. Labor costs continue to rise.

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Modern Restaurant Management

NOVEMBER 28, 2022

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. However, when the pandemic hit, people were less sensitive to prices. In 2023, consumers will be more cost-conscious due to inflation and limited wallet share.

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2023 Technology Loyalty Program Mobile Ordering 504

Modern Restaurant Management

DECEMBER 21, 2022

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.

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Modern Restaurant Management

APRIL 14, 2025

-based diners who recently ordered from a QSR, fast-food or fast-casual chai also found that value is about more than just price. 61 percent of kiosk users say they want to see more kiosks in restaurants – up from 57 percent in 2024 and 36 percent in 2023. For the third year in a row, consumers want more kiosks.

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Modern Restaurant Management

FEBRUARY 1, 2023

And in 2023, that’s the problem most hiring managers in the restaurant industry are facing. When deciding where to recruit restaurant workers online, many job platforms promise to plaster your jobs across the Web for a fixed price. We all know that for restaurants – reputation is everything. It all comes down to your staff.

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Modern Restaurant Management

MARCH 24, 2025

To identify the Fastest Growing Brands, the data science team ranked brands using a blended metric including net new business openings, consumer interest, and searches on Yelp in 2024 compared to 2023. For this report, we measured consumer interest in 2024 compared to 2023.

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EATER

FEBRUARY 27, 2024

Fast food chain Wendy’s has announced plans to test “dynamic pricing” at its locations across the country, beginning in 2025. According to CNN, the move is a part of the chain’s $20 million investment in digital menu boards, which will allow it to tweak the price of a Biggie Bag or Frosty in real time. If so, you’re in luck!

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Modern Restaurant Management

APRIL 10, 2024

According to September 2023 numbers from the National Restaurant Association , 49 percent of restaurants reported year-over-year increases in same-store sales. economy demonstrated resilience in 2023—with GDP, employment rates and consumer spending remaining relatively stable or even growing. Coffee in 2023.

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Modern Restaurant Management

APRIL 16, 2025

Adjusting menu prices may have worked in the past, but it’s no longer enough to offset rising costs. The True Price of Water A restaurant selling 50 bottles of water per day can create a big environmental and financial impact by moving away from bottled water services and switching to an on-site bottling dispenser.

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Modern Restaurant Management

DECEMBER 27, 2022

Inflation is causing food prices – and food insecurity – to soar. . We’re still facing product shortages, exacerbated by ongoing supply chain interruptions and the Russian-Ukrainian war stalling food shipments – including 9.5 million tons of grain. Technology can boost business operations in a variety of ways.

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Food Safety Audits Food Supply Food 566

EATER

SEPTEMBER 20, 2023

In the bread aisle, you see two loaves identically wrapped; both are perfectly edible, but one is a day older and costs half the price. This is a business practice called dynamic pricing, and it may be coming soon to a supermarket near you. The price is changing throughout the [time] horizon.” Which do you choose?

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Waste Pricing Airlines Food 343

Modern Restaurant Management

APRIL 17, 2025

Since our founding in 2014, we've challenged industry norms by pioneering prepayment options, variable pricing, and customizable experiences that drive revenue and prevent no-shows. 4 Based on American Express proprietary data from January 2023 to December 2023. This innovation remains central to our identity.

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EATER

MAY 27, 2025

As of 2023 , the company claimed that around 700 creators notably, this has included a couple from Netflixs Love Is Blind had used it to host trips. In 2023, she brought 33 people to Vietnam for 12 days. I price it just enough for me to make this trip happen and not really gain money from it, Nguyn says.

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Modern Restaurant Management

MARCH 3, 2023

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

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Modern Restaurant Management

DECEMBER 22, 2022

Rising food costs are the number one issue of concern for chefs heading into 2023, according to the survey, with 44 percent of respondents ranking it as their top worry. What were common menu items where prices were raised? . Sixty-seven percent of respondents raised prices throughout their entire menu, and 25 percent on a few items.

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Food Supply 2023 Fine Dining Fast Casual 473

Modern Restaurant Management

DECEMBER 18, 2023

It’s the perfect time to look back on a few things we learned in 2023 – based on recent survey data from our restaurant partners – as well as what we predict for the industry in 2024. The survey also showed 75 percent of respondents expected their labor costs to increase in 2023.

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Modern Restaurant Management

DECEMBER 19, 2023

– Frances Allen, President and CEO, Checkers Brand loyalty took priority in 2023. – Matt Eisenacher, Chief Brand Officer at First Watch Digital transformation continued to dominate 2023. In 2023, we experienced unprecedented shifts in consumer behavior amidst broader macroeconomic conditions like inflation.

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Modern Restaurant Management

OCTOBER 16, 2023

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.

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Fast Casual Fine Dining 2023 Consumer Goods 531

Modern Restaurant Management

MAY 30, 2023

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. Why does this matter to your bottom line?

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Loyalty Program Social Media Download 2023 492

Modern Restaurant Management

JULY 31, 2024

" When it comes to pricing, the team at Margin Edge reports that operators and consumers should prepare to spend a bit more on items made with pumpkin puree. in June 2023 to $9.68 in June 2023 to $6.00 Regionally: The Midwest saw a 29 percent increase in the price of canned pumpkin from $8.09 percent from $9.01

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Modern Restaurant Management

DECEMBER 13, 2023

With both restaurants and guest feeling the effects of inflation, tipping has become a topic of confusion and intrusion for diners, according to Restaurants: Consumer Trends Fall 2023/Winter 2024 , a report produced by Provoke Insights in collaboration with Modern Restaurant Management (MRM) magazine.

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Modern Restaurant Management

JULY 9, 2024

percent YOY) and throughout 2024 were primarily due to price increases, which have surged nearly 50 percent in some segments since the pre-pandemic era and were still up 3.0 Additional insights into QSR sales, traffic, and pricing trends are in the Revenue Management Solutions June Trend Report. Positive net sales in May (+1.9

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Point of Sale 2024 Consumer Goods Pricing 474

Modern Restaurant Management

MARCH 23, 2023

But in 2023, month-over-month trend lines have evened out. percent YOY) was the top-performing QSR channel in February 2023. Yet QSRs are slowing down price increases to meet tightening budgets. The average price flattened, up 14.0 A week ago, we lauded a flat line (on a graph, that is). percent YOY. Dine-in (+29.8

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Marketing 2023 Consumer Goods 2022 434

Modern Restaurant Management

MARCH 21, 2024

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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Modern Restaurant Management

MAY 30, 2023

Digital Dining: What Restaurants Need to Know Now 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.

Pricing 221

Pricing Loyalty Program Social Media Download 221

Modern Restaurant Management

JANUARY 26, 2023

What issues/challenges do you see ahead for restaurants as we head in 2023 and what advice can you offer to help? QSRs will compete with grocery stores who are doing a nice job balancing prices and offerings to make it convenient for shoppers. On the franchise side, what do you foresee in 2023? Is there investor interest?

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EATER

OCTOBER 21, 2024

Nor has eating plant-based meat even made a significant impact on beef production, according to a 2023 report. And this was on top of general griping about his restaurant’s high prices compared to other Asian restaurants in the San Gabriel Valley, says Yang. We had been at $2.50 a piece, and now we’re up to around $2.65.

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Modern Restaurant Management

JANUARY 31, 2024

Inventory : Generally, when food costs go up, operators will raise their menu prices by a small amount. But what we’ve found is that operators have been leaning on menu price hikes to cover their expenses for more than two years now, and they’ve finally reached the limits of what consumers are willing to pay.

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Modern Restaurant Management

APRIL 26, 2023

In March, Revenue Management Solutions surveyed more than 800 restaurant-goers across the US to find out how they’re dining in 2023. For the first quarter of 2023, traffic in the QSR segment was down 0.7 For the first quarter of 2023, traffic in the QSR segment was down 0.7 percent YOY) exceeded Food-At-Home prices (+8.4

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2023 Fast Casual 2022 Pricing 398

Modern Restaurant Management

DECEMBER 31, 2024

The primary response was menu price increases, with nearly 61 percent of respondents adjusting prices to cope with the new reality. percent increase compared to 2023, with the last five days of the holiday season accounting for 10 percent of all holiday spending. percent compared to November of 2023. thousand in 2023.

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Franchising Franchise 2024 Mobile Ordering 221

Modern Restaurant Management

FEBRUARY 5, 2025

11, 2024, comparing it to the average Sunday in 2024 and found that: Wings win MVP with an 87 percent increase in sales The average price of wings ordered increased 18 percent. The average price of wings increased 18 percent, likely due to demand and larger orders. . Toast analyzed data from restaurants on Sunday, Feb.

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2024 Food Order Delivery Sports 309

Modern Restaurant Management

NOVEMBER 1, 2022

Restaurant guests in cost-saving mode are eating out less and more conscious of menu prices, according to Restaurants: Consumer Trends Fall 2022/Winter 2023 a report produced by Provoke Insights in collaboration with Modern Restaurant Management (MRM) magazine.

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Fine Dining Seasonal Menu Social Media 2022 473

Modern Restaurant Management

JANUARY 9, 2023

expect to be less profitable in 2023. Rising food, labor and energy/utility costs pose significant challenges heading into 2023. business leaders anticipate a recession in 2023, according to JPMorgan Chase’s 2023 annual Business Leaders Outlook survey. 50 percent of operators expect to make less profit in 2023.

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Modern Restaurant Management

JANUARY 13, 2023

Starting January 17th, the brand is also launching a new signature cocktail called Endless Sunshine that will feature happy hour pricing of $7 all day, every day. Price may vary per market). “Menu innovation sits at the forefront of our plans for 2023,” said Mark Parmerlee, president and chairman of Golden Chick.

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Modern Restaurant Management

MAY 22, 2023

It’s no surprise that inflation is taking a toll on the restaurant industry and Americans are noticing the price increases. The study was in-field in April 2023. As a result, people are dining out less frequently. Full-service dining has seen the largest decrease in patronage.

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Modern Restaurant Management

JANUARY 30, 2024

Net sales are primarily driven by average check increases and pricing opportunities are diminishing. With little margin for taking price, brands will need to adopt a broad perspective, focusing on creative traffic-driving strategies, and get down into the specifics by analyzing local competitor and consumer data. (Fig.

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