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This generation prioritizes social responsibility over traditional brand loyalty and gravitates toward integrity, sustainability, and values-driven experiences. Ingredient Integrity: Earning Trust Through Food Ethos Gen Z diners value honesty and quality in every aspect of the dining experience.
Steady Online Ordering Brings Food Waste, Donations to the Forefront of Priorities Ordering food online increases restaurant sales, but it also can potentially increase wasted food if proactive measures aren’t taken – for both the business and consumers at home.
Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their views on what trends and challenges owners and operators can expect to see in 2024. An issue that may arise from this in 2024 is data privacy. Read the first part, here. For the second part, click here.
Revenue growth in 2024 was largely driven by menu price adjustments. Although concerns about customer sensitivity influenced pricing decisions, only 9 percent of restaurants did not change prices in 2024, down 19 percent from 2023, indicating a stronger shift towards strategic price increases. Labor costs continue to rise.
More than half (54 percent) of independent restaurant owners report making half as much or less than this same time last year, according to a report from Alignable with 51 percent saying customer spending is “much lower” than 2024. Tariffs, attracting new customers, and inflation top the list of concerns.
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. Photo: Shutterstock Made-to-order food, value offerings, loyaltyprograms.
The year 2024 promises a journey of adaptation and fierce competition for the restaurant industry as it manages stronger-than-expected economic data and slowing inflation while dealing with the headwinds of short labor supply, more demanding customers and an uncertain political environment. The key lesson both establishments teach?
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features news of dramatic Valentine's Day shift, best food scenes, and the evolution of c-store foodservice. As they grapple with rising costs across their supply chain, 71 percent of restaurants plan to increase prices this year.
Offering Bento Packs for individually portioned meals and a la carte buffet-style trays for customizable group settings, L&L’s catering options bring Hawaiian-style comfort food to events large and small throughout our locations nationwide. As of 2024, over half of U.S.
Restaurant operators have faced stiff headwinds since 2020, with a near-constant swirl of inflation, supply chain and labor challenges. But if last year was any indicator, restaurant operators are on the road to relief in 2024. In 2024, we expect these trends to shape the restaurant sector. Coffee in 2023.
Smart fryers and ovens can automate food preparation and cooking, eliminating the need for numerous workers in the kitchen while still ensuring consistent quality and faster service. The short-term costs of a comprehensive training program may be high but the investment will pay handsome dividends in the long run.
Enhanced Customer Engagement – Restaurants intensified their commitment to customer engagement, using strategies including personalization, loyaltyprograms, and data analytics to customize offerings and experiences. This helped them improve customer relationships, loyalty, satisfaction, and retention.
.; Co-founder, Carbonate Looking back at 2023, I witnessed a significant shift in how restaurants approach loyaltyprograms. Customers displayed a pronounced preference for flexibility, seeking the capability to modify loyaltyprograms in response to evolving consumer trends and demands.
He reportedly pled guilty to a charge of simple battery and was ordered to undergo substance abuse testing, complete a violence program and pay fines. He previously was arrested in Chicago after reportedly attacking his ex-wife. Eater reported that he later sued his ex-wife for damaging his reputation.
“The gesture is genuine, [and] we at Joe’s see our purpose as not only to supply our guests with great food and beverages but to offer a lasting memory.” Now, birthdays are a method of getting patrons to sign up for loyaltyprograms and other restaurant perks. The button, however, sets up the patron with an expectation.
Good Food Restaurant Scorecard. Despite skyrocketing demand for plant-based food across the U.S., 42 of the country’s favorite fast food and restaurant chains still don’t offer a plant-based entrée, according to a report released today by The Good Food Institute (GFI).
In 2020, the number of establishments in the food and beverage industry was estimated to be 23.1 You can reward your customers for their loyalty by establishing a card system wherein they'll get a stamp (or a sticker) for every purchase they make. Use high-quality images (of your actual food, if possible).
Running a bar is a lucrative business, proven by the fact that this industry is estimated to be valued at a whopping $36 billion in 2024. While this could be a rewarding venture, opening a bar is not exactly the same as opening a food business. A food seller's permit is also mandated if you plan on serving food.
Integration with online ordering, loyaltyprograms, and inventory tracking. Add features like online ordering, inventory tracking, and loyaltyprograms. Whether you run a quick-service spot, a full-service restaurant, a bar, or a food truck, each has unique needs for handling orders and managing workflows.
In fact, 45% of restaurant operators expect their competition to be much more intense in 2024 than last year. By analyzing the profitability and popularity of your menu items in depth, you can pinpoint exactly which food and beverages contribute to your restaurant's success and which ones you can eliminate.
Ike’s locations have industry-leading average unit volumes, which have only gotten stronger since the company overhauled its marketing technology stack, including an upgraded loyaltyprogram, a new website and easier online ordering. Real Food at BK.
Restaurant POS Terminals Market size raised USD 10 billion in 2017 and is predicted to expand at a CAGR of over 13% between 2018 and 2024. The global industry purchases are expected to approach 20 million units by 2024. Torqus: It provides POS, Supply Chain, and Inventory management tools. It’ll reach 55 million units by 2026.
Here are the 7 must-have POS features that can transform your business: Inventory Tracking : Reduce food waste by 10% with real-time stock management and automated alerts. LoyaltyPrograms : Increase repeat visits by 42% and average check size by 28% with personalized rewards.
2023 has been a challenging year for restaurant operators, caught as they were between rising food costs and labour shortages. To give you the full picture of the positives and negatives of what lies ahead for 2024, we combed through dozens of recent industry reports and compiled a list of 93 restaurant industry statistics.
The last few years have been rough on the restaurant business, which has weathered supply chain issues, labor shortages, rising food costs, a pandemic, and cutthroat competition. 45% of consumers say that mobile ordering or loyaltyprograms encourage them to use restaurant online ordering platforms.
Loyalty is a huge factor now as guests desire rewards and perks for sticking with a favorite small business, and repeat customers are keeping many restaurants going. No matter how much technology evolves, or trends shift, people will always come back for quality food, great value, and friendly service.
A report by Juniper Research states that contactless payments will triple to $6 trillion worldwide by 2024. During the lockdown, online food orders and contactless home-deliveries tremendously helped restaurants survive. Contactless payments have helped reduce human-to-human contact or surface virus transmission to a bare minimum.
As we settle into 2024, the restaurant industry stands on the cusp of transformative changes, shaped by evolving consumer preferences, sustainability concerns, and a relentless pace of technological innovation. Experiential Dining The dining experience is becoming as important as the food itself.
million in April, and the accommodations and food services sector accounted for the largest increases. Restaurant labor costs are on the rise, adding additional stress to the bottom line, on top of supply chain issues and rising food costs. Food service managers have an average of less than five years of industry experience.
million in April, and the accommodations and food services sector accounted for the largest increases. Restaurant labor costs are on the rise, adding additional stress to the bottom line, on top of supply chain issues and rising food costs. Food service managers have an average of less than five years of industry experience.
We’ve reimagined our drive-thru model, introduced new kitchen technology to improve throughput, and strengthened our loyaltyprogram to keep customers engaged. Furthermore, digital tools for inventory and labor management became crucial for navigating supply chain disruptions and staffing challenges. more an hour.
The National Restaurant Association’s Restaurant Technology Landscape report 2024 finds that 76% of operators say using technology gives them a competitive edge. Advanced inventory management systems, such as Apicbase, ensure your restaurants stay stocked, and food costs are under control.
When thinking about restaurant automation, imagining a future where AI-powered androids shake cocktails and drones drop food deliveries through your skylight is fun. But automation in food service is much more than that. And over half of respondents said they plan to spend more on technology and automation tools in 2024.
Most successful food businesses are now multi-unit and multi-channel. All come with their own data sets and metrics – food cost, inventory variance, sales numbers, the list goes on. Recipes – Your Core Data Set The back of house or production side of a food business is notoriously hard to manage.
percent from the previous year, led by underperformance in restaurant, food and nightlight categories, as well as brick-and-mortar shops. voted Republican in 2016 – North Dakota, South Dakota, Wyoming, and Alaska – with services sectors and several food-related economic growth trended blue — Washington D.C.,
They touched on topics such as delivery, ghost (dark) kitchens, automation, plant-based menu items, food waste, sustainability, staffing and retention and more. The economic model makes more sense than traditional brick and mortar so many food businesses are moving in this direction. FAT Brands Chairman and CEO Andy Wiederhorn.
Loyaltyprograms also matter: 65 percent of drive-thru users and over 60 percent of takeout and delivery users say membership affects where they order. The Darden Restaurant-owned brand rated top for fast service, fresh food, accurate orders, and customizable menu options. percent in 2024.
percentage points less than sales growth from the same two-month period in 2024. Yelp analyzes the millions of reviews on its platform, along with nominations from its community of users, to generate a diverse list of local eateries, from food trucks to fine dining. Month-over-month sales (+0.1 percent) and transactions (+1.6
These on-again, off-again tariffs are, first of all, creating uncertainty as we try to plan our food and beverage budgets for 2025. China, meanwhile, exported $55 billion in equipment in 2024, and the tariff on Chinese imports, as of this writing, stands at 145 percent. Start a fee-based membership program. Optimize Operations.
As economic pressures and fluctuating food costs persist, these technologies will be critical for maintaining profitability and ensuring long-term sustainability. This is why it’s essential that operators invest in comprehensive training programs and foster a positive work environment.
Paperchase’s financial specialists in the restaurant and bar industry analyzed same store data across all restaurant sectors to detail the correlation between equity-market crashes and the food and beverage business. on average in February and March compared to 2024. drop in consumer sentiment over the last year.
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