article thumbnail

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.

Pricing 198
article thumbnail

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 196
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Mitigating Cost Price Inflation Via Supplier Management

Hot Schedules

Mitigating Cost Price Inflation Via Supplier Management. T echnology alone can’t affect the causes of cost price inflation. No more special cases. Related Posts. First, let’s talk about supplier lists. It’s good for customers too, as dishes are consistent and quality control stays high.

Pricing 148
article thumbnail

On the Road to Relief: Restaurant Trends and Opportunities to Watch

Modern Restaurant Management

Adapt to Growing Price Fatigue Since the pandemic, controlling food costs has been a major challenge for restaurant operators. 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 Coffee in 2023. Data from the U.S.

2024 196
article thumbnail

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. Energy prices are very high right now too. Restaurants with special needs for this period and after it should prepare well in advance.

article thumbnail

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
article thumbnail

15 Restaurant Metrics to Know and How To Use Them

7 Shifts

Numbers can give us insights into everything from profits and losses to average customer spend to how often employees cycle through. Employee turnover rate. Ideal menu price. Your CoGSs is an essential number to have when determining your menu prices, inventory and impacts your net profit margin. Employee Turnover Rate.