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
Faced with rising labor costs and increasingly price-sensitive customers, restaurant brands are exploring new ways to balance profitability with consumer expectations. One of the most debated strategies is dynamic pricing, which adjusts based on demand and other variables. They were asked to place an order from an online restaurant.
In 2024, restaurant traffic slowed while price sensitivity grew. Revenue Management Solutions’ (RMS) Q3 survey revealed that 36 percent of respondents said they plan to dine out less, and a higher percentage reported a decline in dining out across all restaurant segments. Go digital for increased loyalty and sales.
Rising restaurant prices and increased cost-of-living expenses are significantly altering dining out habits in both the US and UK, according to a new survey from Attest. Among the key findings affecting restaurants: Price Sensitivity : 86 percent of consumers in both the US and UK feel restaurant prices are higher than last year.
Menu pricing isnt just about covering costsits about finding that sweet spot where profitability, customer perception, and operational reality meet. Set prices too low, and youre leaving money on the table. Most operators aim for food costs to be around 28-35% of the menu price, though this can change from restaurant to restaurant.
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.
Restaurants less so How the owner of Krystal and Logan's Roadhouse makes it work Financing Olive Garden sales surge on delivery and free take-home meals Same-store sales rose 6.9% at the Italian casual-dining chain as its investments in affordability and Uber delivery paid off. By Joe Guszkowski on Jun.
A Dilemma of “Super Size” Proportions Amid rising food prices and shifting consumer preferences, the restaurant industry is facing a dilemma of “super size” proportions. chain sales grew just 3.1 percent menu-price inflation rate. At the same time, U.S. percent in 2024 — falling short of the 4.1
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.
One of the more popular solutions to helping a business thrive is dual pricing credit card processing. One of the more popular solutions to helping a business thrive is dual pricing credit card processing. What is Dual Pricing? When a restaurant offers dual pricing, it maintains 100 percentof the cash price for every item sold.
What can you expect to see on menus in 2025? Read on for predictions from industry insiders that include chili crunch, black limes, newstaglia, stealth health, and elevated snacking. ” Guests will have the opportunity to experience many of these trends come to life at Kimpton restaurants and bars across the globe.
Every cook, at least every serious cook, seems to want to work in one of those exceptional fine dining or cutting-edge experimental operations that are depicted in shows like Chefs Table or The Bear. But is this the best way for a young cook to set the stage for a long, successful career in the kitchen?
In October, the USDA reported year-to-date averages, noting that food-at-home (grocery store) prices have increased 2.5 percent and food-away-from-home (restaurant) prices have increased 3.6 percent, and food-away-from-home prices are expected to increase between 3 and 4 percent. If current projections from the U.S.
So much data is generated at every point within a restaurant, whether fast casual or fine dining. The question now becomes – how to make sense of that data and use it to elevate the dining experience. For the first part, click here and for the second part, click here. Data, Data, Data.
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.
Of course, running a restaurant is difficult, wholesale prices of ingredients have risen dramatically since the pandemic, labor costs are out of control, and landlords have no mercy when it comes to establishing lease arrangements. That’s 21 meals for two people over seven days. Do the math. So, what does the independent restaurateur do?
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features delivery data, tariff troubles, summer dining trends, and Beer Serves America. billion transactions and $67 billion in sales in 2024. Companies saw a sales boost in 2024 as loyalty transactions increased by over 30 percent.
When used strategically, customer data can help you personalize marketing, streamline operations, and create a better dining experience for your guests. The more you understand your customers, the better you can fine-tune your marketing and pricing strategies. Restaurants collect a ton of customer data. You can increase revenue.
When you decided to open a restaurant, you probably didnt picture yourself glued to spreadsheets or tracking the price of eggs, but keeping an eye on the numbers is how you stay open year after year. A spike in food costs, a drop in sales volume, or one slow season can wipe out months of hard work. What Are Restaurant Profit Margins?
You can have a crowd-pleasing menu, loyal regulars, and a packed dining roomand still watch your margins disappear. It blends sales data, food cost, and menu psychology to help you stop guessing and start making decisions that grow your margins. Because not every dish thats popular is profitable.
According to September 2023 numbers from the National Restaurant Association , 49 percent of restaurants reported year-over-year increases in same-store sales. Adapt to Growing Price Fatigue Since the pandemic, controlling food costs has been a major challenge for restaurant operators. Full-service menu prices climbed 4.5
In-store sales at convenience stores hit a record $335.5 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. And fast-food customers Convenience-store foodservice grew 5% last year and is expected to jump another 5.7%
The COVID-19 pandemic has brought endless changes to the restaurant industry, but perhaps the most significant has been the rise of the contactless dining experience. With customers opting for alternatives to dine-in, restaurants adapted to build solutions to offer takeout, delivery and curbside pickup options.
As restaurants work to re-tool in preparation for the return of in-house guests, there’s one question that’s now on the minds of operators everywhere: how can their existing point-of-sale (POS) system and related technologies help to provide a safe environment with secure payments?
Restaurants have been quick to adapt to the changing COVID-19 environment by implementing systems that offer curbside pickup and delivery while aggressively marketing their local takeout and outdoor dining options. They sold wine bottles where possible and cocktails to go, a concept that was, until now, illegal in most states.
We are also seeing operators looking at all ways to drive business amidst a consumer pullback in dining out; this includes introducing pumpkin LTOs that spark excitement and drive consumer demand. "We anticipate a broad adoption of pumpkin items across different dining experiences, culinary styles, and dayparts," said Bryla. "We’ve
A single mistakelike forgetting to accept an order on one app while preparing anothercan result in a frustrated customer and a lost sale. And without a single place to track all delivery sales, restaurant operators struggle to see the full picture of their off-premise business. Are delivery prices aligned with in-house costs?
Since 2014, online ordering has grown 300% faster than dine-in and now accounts for roughly 40% of restaurant sales. Running your own online ordering system gives you complete control over pricing, promotions, and customer data, helping you maximize profits while still offering convenience. billion in revenue.
71 percent rely on delivery for 11 percent or more of sales. 33 percent rely on delivery for more than 20 percent of sales. 65 percent rely on mobile ordering for 11 percent or more of sales. 25 percent rely on mobile ordering for more than 20 percent of sales. 71 percent rely on delivery for 11 percent or more of sales.
Those priorities include increased marketing and sales efforts alongside new benefits and programs to attract and retain staff. The primary response was menu price increases, with nearly 61 percent of respondents adjusting prices to cope with the new reality.
Identify your biggest pain points. Are you aiming to speed up service, cut labor costs, or increase online sales? A higher-priced system that saves time and reduces errors might be more valuable than a cheaper, less effective alternative. But first, lets look at how to choose the right technology for your restaurant.
QSRs Shift Focus from Slow-Paced Dining to Swift, Transactional Experiences Quick Service Restaurants (QSRs) are reimagining their dining spaces to prioritize speed, convenience, and personalization over traditional, slow-paced dining experiences. Read the first part, here. For the second part, click here.
As with most other industries, the biggest talking point for restaurants in 2023 has been artificial intelligence. As with most other industries, the biggest talking point for restaurants in 2023 has been artificial intelligence. Here are some of their insights. Click here for the first part.
Financial restaurant KPIs give you visibility into your costs, pricing, and ultimately, your profitability. Cost of Goods Sold (COGS) Cost of Goods Sold tells you how much it actually costs to make the food and beverage sales you sell. A typical COGS for a restaurant is around 30%-40% , depending on your concept and pricing.
The long-awaited joy of a bustling dining room has finally returned. The choices restaurants make today on how to invest in marketing and leverage various food sales channels will have profound impacts for years to come. Fortunately, many other digitally disrupted industries offer key insights on how to navigate the shift.
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.
It includes documents to assist in organizing and reopening dining rooms and businesses. OpenTable added new features and price cuts for 2020 as they recognize the road to recovery will be long and difficult. Download the full guidance, here. Employee health. Employee health. Cleaning/sanitizing/disinfecting.
Break-even point. Sales per labor hour. Ideal menu price. Your CoGSs is an essential number to have when determining your menu prices, inventory and impacts your net profit margin. Your CoGSs is an essential number to have when determining your menu prices, inventory and impacts your net profit margin.
For operators, restaurant apps mean higher sales, greater customer retention, and smoother day-to-day operations. For operators, restaurant apps mean higher sales, greater customer retention, and smoother day-to-day operations. The restaurant industry is going mobile, and restaurant apps are at the center of this transformation.
Our analysts examined how dining habits differ across Gen Zers, millennials, Gen Xers and baby boomers in our research consumer study. Gen Z's penny-pinching is most dramatic in the drive-thru, the pandemic darling of off-premise dining. Based on survey answers, all signs point to no. Is this a temporary blip?
When profit is measured in more significant profit from fewer sales then I will make a statement that may cause many chefs scratch their heads in disbelief: “Food cost percentage is far less relevant – it’s all about contribution margin.” In both cases it is sales (the top line) that sets the stage for success. SP = $5.25 /.30.
All good intentions – they want to create full or partially full dining rooms for restaurants in need. Here’s the kicker: It cost each restaurant $900 to participate in the week (I guess to cover town wide promotion expenses) and every restaurant must agree to deep discount pricing for guests. Restaurant week is just one example.
This includes tolls with payroll management features, sales and expense tracking, budget forecasting, and report generation, to name a few. It involves tracking massive amounts of real data and industry benchmarks. It even has its own language, KPIs, EBITDAs, and CoGs. Sounds complicated?
Dining habits change, food costs fluctuate, and customer preferences can shift depending on what’s trending. A shift in dining trends. Nearby competitors are offering something similar, but at a more affordable price or with a fresher angle. Even your most reliable menu items can lose their shine over time.
In a State of the Restaurant industry report, the Natiional Restaurant Association sees a return to normal with predicted sales growth in 2023. Other top research lists how impactful the Super Bowl was for restaurants, the state of gift cards and top pizza cities. million by the end of 2023.
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