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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.

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Is There a Right Way to Raise Prices?

Modern Restaurant Management

Due to many factors including inflation and supply chain challenges, restaurant owners and operators have been faced with tough choice about raising menu prices. As food prices rise, restaurants should try to stay within their target ratio for food cost to gross food revenue in order to maintain target profits.

Pricing 186
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Food Chain Crisis Explained: Supply Disruptions & Rising Prices

Cheetah

Learn how this affects your business, from restaurant suppliers struggling to keep up, to rising food prices led by labor shortages and increased consumer demand for quick, cheap food. After a year of relatively low demand, consumers can’t wait to get out of the house and into restaurants. Labor Crisis Continues. Cheetah Tip.

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Economic Outlook and Tips for the Restaurant Industry

Modern Restaurant Management

Restaurants trying to attract price conscious diners should make sure that their menus carry several low-cost, higher margin staples that can be sold at reasonable prices. Consider reducing the size and price of certain staples and then offering a “super-sized” portion for a higher price.

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FOOD COST IS NOT THE CHEF’S RESPONSIBILITY

Culinary Cues

So, if the cost of goods is not the chef’s responsibility, then where does the buck stop? Smart buying means to look at quantity discounts when available, buying generic brands when quality still meets your standards, and shopping several vendors with quality and price in mind. Cost control begins at the back door. First in, first out.

Food 385
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Improving Restaurant Inventory Management to Beat Rising Food Prices

Restaurant365

Restaurant inventory management plays a key role in overcoming rising food prices. Logistics challenges and labor shortages have fueled rising food prices at the wholesale level. Data from the Bureau of Labor Statistics showed the November Producer Price Index, a measure of wholesale prices, up 9.6% from a year ago.

Inventory 148
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2024 Outlook: Restaurant Trends and Challenges, Part Three

Modern Restaurant Management

This capability can prove invaluable for refining pricing strategies, optimising ingredient and waste management, and planning forthcoming shifts, among other benefits. Prioritising employee well-being, mental health, and job satisfaction is also essential in curbing turnover and cultivating a content and dedicated workforce.

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