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2024 Outlook: Restaurant Trends and Challenges, Part Three

Modern Restaurant Management

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. This capability can prove invaluable for refining pricing strategies, optimising ingredient and waste management, and planning forthcoming shifts, among other benefits.

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Consumer Habits Are Changing — What’s Next for Restaurant Tech?

Modern Restaurant Management

Many food and beverage establishments have seen success with technology — such as contactless options, automation to support changing workforces and innovative customer loyalty strategies — in their endeavors to meet the demand for safer and more convenient dining experiences. Gone are the days of cash-only transactions.

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Smart Pricing

Chowly

Most businesses do their best to roll with these punches in order to stay afloat. It’s called smart pricing. It’s a powerful way restaurants can maximize their revenue and profits with a “right price at the right time” model. Smart pricing involves changing menu prices based on demand.

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The State of Full Service Restaurants

Modern Restaurant Management

Seventy-four percent of full service restaurants (FSRs) managed to maintain or increase their sales during the pandemic; however, profit margins in 2021 declined to 10 percent, compared to 12 percent in 2019, according to third annual State of Full Service Restaurants Report released by TouchBistro.

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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. Restaurants will continue to embrace digital on-premise, including mobile ordering and payment at the table, to streamline operations and improve the guest experience.

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Inflation Takes a Bite at the Restaurant Industry; How Can Operators Cope?

Modern Restaurant Management

Additionally, menu prices at casual dining establishments rose by an average of 9 percent year over year from 2021. The decreased patronage along with inflation increases running costs, which means increased menu prices. Some implemented loyalty programs to promote recurring customers. Keep Managing Costs.

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The Complete Guide to Creating a Winning Restaurant Newsletter (+Real Examples)

7 Shifts

When done right, email marketing works wonders—you stay top of mind and increase order values. Now that you know what email newsletters can do for your restaurant, it's time to create a newsletter that wins hearts and sets the cash register ringing. Increase online orders? One way to keep customers coming back? Use automation.