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Surgical Pricing Strategies: How QSRs Can Navigate Inflation

Modern Restaurant Management

While it’s understandable to believe everything is back to normal – according to our QSR monthly trends, August 2023 traffic was down just half a percent compared to 2022 – the landscape has taken a seismic shift. For example, we noted above that in August 2023, YOY traffic was holding steady. percent lower than 2019.

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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.

Pricing 147
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Will consumers keep paying higher prices for specialty coffee?

Perfect Daily Grind

Over the past year or so, rising food prices and energy costs have been affecting many people around the world. In fact, in March 2023, the BBC reported that food prices had reached a 45-year high in the UK , with many other major coffee consuming countries also going through similar price increases.

Pricing 162
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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. Don’t be afraid to increase price.

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Price Matters — Inflation Wearing on Consumer Dining Behavior

Modern Restaurant Management

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 88
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2023 Outlook: Trends and Challenges Restaurants Will See, Part One

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. "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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