This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Prices have surged to unprecedented levels, driven by a combination of disease outbreaks, increased production costs, and regulatory changes. Understanding the factors behind rising egg prices and implementing strategic solutions is critical for navigating this volatile landscape.
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. Why are regional flavors in favor?
Nor has eating plant-based meat even made a significant impact on beef production, according to a 2023 report. Changing temperatures and weather patterns mean ingredients that were once common are now harder to come by , and sourcing ingredients from sustainable farms can often be more expensive. without interruptions.
The research found that businesses worldwide – particularly restaurants – intend to experiment more in 2025, especially with customer retention programs like loyalty, as they face the triple challenge of sustained high inflation, shrinking consumer wallets and the need to raise prices across the board. percent decrease in claims.
According to Mastercard Contactless Consumer Polling, more than half of Americans are now using some form of contactless payment, and several sources state that adoption rate is accelerating amongst younger consumers. That's why we instituted lower-priced lunch specials and made other adjustments.
Understandably, menu prices at “competition cafés” can reach well over US $20 for a cup of coffee, attracting a niche but steadily growing audience. The Road to Milan docuseries – which follows Onyx Coffee Lab’s Andrea Allen training for the 2021 WBC – won the Best Series Award at the 2023 Oregon Documentary Film Festival.
Wishnow, a former Dunkin’ and Taco Bell franchisee, tapped menu consultants and brand builders The Culinary Edge to design a menu that falls somewhere between Salad and Go and Sweetgreen, price-wise. The way Greenlane prices its menu has evolved since the first unit opened in 2023.
As sustained high coffee prices continue to pressure profit margins and consumer behaviour evolves rapidly, roasters face an unprecedented challenge: how to maintain growth and profitability while adapting to a market that demands more options, convenience, and value. Sustained high coffee prices signal a new era for coffee.
High and volatile green coffee prices , along with increasing operational costs, are creating a more competitive market. Arabica prices reached all-time highs in February 2025 , prompting coffee businesses across the supply chain to reassess their sourcing strategies to secure more cost-effective coffees while maintaining quality standards.
In 2023, matcha-based drinks saw a 202% increase in sales in the UK alone. But if it’s to transcend beyond a trend or “movement”, most agree that café operators need to source high-quality matcha and know how to prepare it properly. The ideal canvas for beverage customisation? If it’s dull, olive-toned, or brown, it’s oxidised.” .
Full year reporting on insolvency in July (comparing financial year 2023-24 to 2022-23) indicated a 42% surge in insolvencies on the previous year – up to 1576. Source mccrindle.com.au What is happening with consumer spending patterns in the hospitality sector? Small is beautiful.
Led by business and life partners Silver and Cherry Iocovozzi, the Filipinx restaurant has garnered many accolades: It was a 2023 James Beard finalist for Best New Restaurant, one of Bon Appetit s 2023 Best New Restaurants, and in 2024, was named a USA Today Restaurant of the Year.
Advanced restaurant technology is helping businesses flourish by informing and supporting better decisions about labor, inventory, pricing and customer loyalty programs, and by streamlining tasks to save time and money. Are You Ready to Grow Your Restaurant Business in 2023?
Data Gaps Hinder Pricing Strategies : 73 percent of operators lack full confidence in their pricing strategy, with most relying on gut instinct or competitor pricing instead of real-time cost analysis. In fact, 80 businesses on the list are priced under 30 dollars per person. 6-8, 2025.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features dining trends, hiring trends, tech trends, brunch trends, alcohol trends, and egg prices. Nearly half (47 percent) of diners say they engage with loyalty programs at least once a week, up significantly from just 34 percent in 2023.
It also zooms in on current challenges faced by owners/operators, menu prices and inflation, and tech/AI implementation. COGS Are Key as Hiring Pressures Decline In 2024, 16 percent of operators say analyzing and managing the cost of goods and services and supplier and vendor management are top pain pointscompared to 12 percent in 2023.
According to data from the Chinese government, the country imported over US $165 million worth of coffee products from Africa in 2023. Accra, Ghana) Tue, 15 Jul – Lucky Cup opens 6,000th store amid China price war. São Paulo, Brazil) Thu, 17 Jul – US retail prices rose in June as tariff pass-through begins.
percent) compared to 2023, while Dunkin’ saw a slight improvement (0.5 And customers questioned the value they got for their money at all three chains in written reviews, citing high prices, watery drinks and dissatisfying customer service. The median price they would pay for a medium cup of coffee was $4.
returned the following response, derived from multiple sources: A couple things to note there: Though Thai-namite gets top billing, the AI doesnt link directly to its website, like it does for the other two restaurants mentioned. For instance, the question “What’s a good vegan Thai restaurant in Milwaukee?” Abdow said in an interview.
Getty Images Bird flu outbreaks have caused egg prices to rise, forcing some restaurants either adapt recipes or raise menu prices Toward the end of 2024, James Wong of the San Francisco bakery Breadbelly was already mentally preparing for his egg prices to go up: They also spiked at the end of 2022 and 2023 , due to nationwide bird flu outbreaks.
But as we explored the crop of stellar new restaurants that opened between September 2023 and September 2024, we found ourselves — if fleetingly — forgetting about the real world outside the dining room, and settling into meals that felt exciting, confident, and joyful. And that’s a good thing; food is serious business.
Pain points include: Food Cost Inflation : More than a quarter (26 percent) said that food costs have been their biggest source of financial strain this year. There were 11 percent more transactions on Thanksgiving Eve than on the average Wednesday in 2023. 70 percent increase in alcohol sales compared to an average Wednesday in 2023.
Would prices automatically increase as much as 60 percent? Those goods often include products that cant be easily sourced in the United States, such as tropical products or off-season produce. In 2023, the United States imported about $40 billion in agricultural food products from Canada, ranging from baked goods to canola oil.
2023 Market Correction vs 2025 Market Drop Although the tariffs are not expected to directly impact restaurant costs as much as other sectors, the runoff effects of the downturn have affected the revenue of hospitality businesses across the industry. Between July 31st and October 27th, 2023, the stock index fell from 4,588 to 4,117, a -10.3%
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. Co-founder, Carbonate Looking back at 2023, I witnessed a significant shift in how restaurants approach loyalty programs.
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.
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.
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.
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?
– 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.
A Decade of DoorDash DoorDash celebrated its 10th anniversary by unveiling Dash From the Past 2023 and Dash From the Past: A Decade Delivered, which checks in on popular trends as we celebrate the best of what users have dashed over the past year, and over the past decade. Like the most ordered food on DoorDash of all time: French fries.
This capability can prove invaluable for refining pricing strategies, optimising ingredient and waste management, and planning forthcoming shifts, among other benefits. Vanilla isn’t for everyone In 2023, marketing took a cue from the ice cream parlor, embracing segmentation with the same precision as a sundae artisan.
As Merriam-Webster's word of the year for 2023, authenticity is proving to be something that people of all generations search for now more than ever. They drive the demand for clean labels, responsibly sourced ingredients and sustainability. Gen Z demands transparency and ethical practices in the food industry.
As consumers watch food prices continue to rise, the demand for cost-effective meal solutions are prompting c-stores, full-service, and quick-service restaurants to increase their offerings. While raw and specialty ingredients have been the go-to for many businesses, shortages and sourcing issues are becoming the new normal.
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.
Yelp’s engaged community of locals who share their opinions and reviews is what enables its community to connect with great local and affordable businesses – more than 85% of the businesses on the list are priced under 30 dollars per person. trillion (7 percent of total revenue) due to poor customer experience in 2023.
While it’s promising, it’s not the magic bullet to increase your revenue in 2023. This is where AI excels: by leveraging unlimited data sources and analyzing vast correlations to optimize performance. Conversely, proven solutions exist that can increase your guest personalization and drive new revenue, today.
Interestingly, 55 percent of consumers now consider takeout and delivery essential, according to NRA's 2023 State of the Restaurant Industry Report. For example, many customers are now more health-conscious and prefer to eat food that is fresh, nutritious, and locally sourced.
In its 2023 State of the Industry report, the National Restaurant Association found that exactly half of all operators expect to be less profitable as compared with the previous year. A flexible, open API in a modern financial management system allows real-time integrations with all data sources, including legacy or third-party systems.
” – Dean Drako, CEO of Eagle Eye Networks 2023 served up a year of resilience and innovation for restaurants, as they adapted to shifting landscapes and embraced new dining paradigms. How was the food sourced or produced? Next year, I believe consumers will make food sustainability a top purchasing priority.
The survey found that that 35% of respondents were expecting to be operating at a loss or face closure by the end of the year, with 96% of businesses also experiencing higher energy costs and 93% facing food price inflation. Fairtrade launches Living Income Reference Price for Ugandan arabica.
GoFundBean launches 2023 Bean for Bean mentorship programme. Successful applicants will receive updates on 13 March 2023. The sessions will be held on 14 & 15 June 2023 and 11 & 12 November 2023, respectively. Submininal to launch NanoFoamer Pro on Kickstarter on 7 March 2023.
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.
The new innovative panel discussion format will debut at PRF Colombia, which takes place on 14 & 15 September 2023 in Medellín. points at 2023 Cup of Excellence El Salvador competition. Alongside hosting the 2023 China Coffee Championships, a number of exhibitors were present at the event – including Carimali China.
We organize all of the trending information in your field so you don't have to. Join 49,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content