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Menu Prices Are Rising, But Loyalty Programs Can Help Restaurants Stay Ahead

Modern Restaurant Management

It’s an unsavory fact: food is getting more expensive. 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 Rewards for Loyalty. If current projections from the U.S.

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Diners Have Negative Reaction to Surge and Dynamic Pricing

Modern Restaurant Management

Eighty-one percent of diners said they would either stop going to a restaurant altogether or alter their dining hours to avoid prices surging during peak hours and 64 percent said they have a negative reaction to restaurants using surge and dynamic pricing, according to a HungerRush’s National Restaurant Price Surging Survey.

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Keeping Up with Diners’ Expectations Amid Rising Prices

Modern Restaurant Management

But two non-negotiables have remained strong for diners: convenience and loyalty. Loyalty Reigns Supreme Although consumers may be more selective on where and when they dine out, they still want to frequent their favorite restaurants and access any deals possible. They also want convenience and frictionless digital experiences.

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Restaurant Loyalty Programs to Boost Revenues

Cheetah

Restaurants, retailers and airlines have been using loyalty programs to drive revenue for nearly three centuries. From their humble, though ingenious, beginnings as copper tokens and stamps, through the era of credit card clubs, to today’s mobile apps, loyalty programs have become indispensable marketing tools.

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Ordering Channels and Preferences Have Shifted: How Restaurants Can Win The Customer

Modern Restaurant Management

Surging prices have been top of mind for consumers for two years and counting, leaving restaurant leaders questioning how inflation might influence diners’ behavior and overall spending habits, including their usage of digital ordering and third-party delivery apps– both of which gained momentum during the pandemic.

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Boosting Restaurant Margins and Profits Without Hiking Prices

Squirrel Systems

In today’s competitive dining industry, maintaining profitability while keeping prices stable is a significant challenge for restaurateurs. High operating costs, fluctuating commodity prices, and the ever-evolving preferences of guests can all squeeze margins.

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How a Customer Loyalty Program Helps Restaurants Keep in Touch with Customers

Focus POS

With a loyalty program that resonates with what your customers value, you open the doors to greater communication with your customer base that translates to much more than just increased revenue. How loyalty programs have evolved. Modern loyalty programs add a lot more than a free item after so many purchases.