Remove Inventory Remove Loyalty Program Remove Sustainability
article thumbnail

Can Subscription Models Benefit Restaurants and Guests?

Modern Restaurant Management

Restaurant loyalty programs are nothing new so what can restaurants do to stand out from the competition and better engage with guests to build relationships? How and why are loyalty programs evolving? Loyalty programs are made to cater to customers' ever-changing needs and expectations.

article thumbnail

Beyond the Plate: Evolution and Exploration in the 2024 Restaurant Scene

Modern Restaurant Management

Brands find themselves at a pivotal juncture, where they have the opportunity to both captivate customers and secure their loyalty through a thoughtful blend of innovation and tradition. Focus on Sustainability The impact of food waste is staggering, with U.S.

2024 189
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

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

Modern Restaurant Management

They’re using that information for myriad purposes—from effectively managing inventory to launching new menu items. For example, restaurant operators can use POS data to develop tailored deals, specials and loyalty rewards. Bureau of Labor Statistics shows that the average hourly rate for U.S.

2023 196
article thumbnail

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.

article thumbnail

The Digital Revolution, Evolving Consumer Expectations and Other Trends

Modern Restaurant Management

Enhanced Customer Engagement – Restaurants intensified their commitment to customer engagement, using strategies including personalization, loyalty programs, and data analytics to customize offerings and experiences. This helped them improve customer relationships, loyalty, satisfaction, and retention.

article thumbnail

17 Essential Restaurant Metrics Every Owner Should Know

ChowNow

To manage this effectively, track daily, weekly, and monthly sales to identify trends and peak times, using this data to optimize staffing and inventory levels. Calculate COGS by adding the beginning inventory and purchases, then subtracting the ending inventory. It is calculated by dividing COGS by Average Inventory.

article thumbnail

The Complete Guide to Increase Your Restaurant Profit Margins

Lavu

By comprehending the financial dynamics at play, restaurateurs can make informed decisions that contribute to their overall profits and sustainability. Aggressive marketing with loyalty programs and limited-time offers drives customer traffic and increases sales.