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I launched an internship program where I mentored marketing students in exchange for project help. Now, our challenges have evolved: Keeping Pace with Technology : From AI tools to social algorithms to customer data platforms, the pace of innovation is nonstop. It was a win-win. I got support, and they gained real-world experience.
Optimizing the Bar Program with Digital Tools Beverages, especially alcoholic ones, offer some of the highest profit margins in the restaurant industry. Implementing a Strategic Digital LoyaltyProgram A well-executed loyaltyprogram can increase customer retention and repeat visits.
Today’s best loyaltyprograms offer early access to new menu items, surprise merchandise drops, and exclusive experiences. The Kitchen Gets Its Tech Glow-Up After years of innovation in front-of-house technology, kitchen technology is finally having its moment.
This is all the income from your food and beverage sales, catering, branded merchandise, packaged goods, venue hire, etc. Your Cost of Goods Sold are your food and beverage costs along with the cost of any merchandise you sell. A loyaltyprogram can be integrated into online ordering. Labor costs. Overhead costs.
Nearly half (47 percent) of diners say they engage with loyaltyprograms at least once a week, up significantly from just 34 percent in 2023. Savvy operators have realized that cross-training team members and leveraging technology reduces labor costs and enhances the overall guest experience — a win-win across the board.”
Loyaltyprograms also matter: 65 percent of drive-thru users and over 60 percent of takeout and delivery users say membership affects where they order. The report explores the forces shaping guest loyalty in 2025. While loyalty check size growth is promising, it's important to understand what this number means.
Restaurants Order Up Tech, AI, and Dynamic Pricing As far as technology goes, 26 percent of respondents said they’d like to start using new tech to help run their business, which is up seven percentage points from last year. Gross Merchandise Value (GMV) at local restaurants grew by 12.8 The average ticket size grew by 2.6
While there’s no single recipe for recruitment and retention success, many restaurateurs are leveraging a proven approach: loyaltyprograms. The recurring business these programs drive ultimately helps increase revenue while fostering customer loyalty. times more likely to experience double-digit revenue growth.
The best customers are returning ones as members of top-performing loyaltyprograms are 77 percent more likely to choose their brand over competitors. Loyaltyprograms create those moments and start those familiar brand conversations, giving customers extra incentive to come back and stay engaged.
Leveraging F&B technologies solutions can entice online customers and attract traffic to your website and social media pages. If you aim to increase customer retention, one of the most important investments is loyaltyprograms. Why get a loyaltyprogram? How to leverage restaurant loyaltyprograms?
Restaurants, retailers and airlines have been using loyaltyprograms 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, loyaltyprograms have become indispensable marketing tools.
“Restaurant of the Future: How to Take Advantage of the Digital Transformation,” a panel discussion about how technology spurred by COVID-19 will help shape the way restaurants operate, will take place on Thursday, Aug. Brad Duea – CEO, Restaurant REVOLUTION Technologies. Restaurant of the Future Panel. 20 at 4 p.m.
We've reached a point where we're recognizing the value and limits of these technologies. In 2024, we anticipate a continued evolution, where technology and sustainability will play pivotal roles in reshaping the culinary experience. The impact of these technological shifts is multifaceted. RobotLAB uses it by default!
Satisfying CX Delivering a satisfying customer experience (CX) is the #1 priority for companies, according to a recent study by Metrigy, a research and advisory firm that advises companies on technology transformation strategies. No other technology area garnered a higher number of companies increasing expenditures.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features the dismal March restaurant sales, security, loyalty, trends and teen consumer behaviors. Emotional Connection and Loyalty. Studying more than 5,000 customers in a loyalty/rewards program, researchers at Washington University in St.
However, consumers tend to be motivated to spend money for rewards, such as restaurant loyaltyprograms. While working on your loyaltyprograms, the best way to ensure customer retention, is to build a relationship with them. This can be a free menu item, a side item, a discount, or merchandise.
In this edition of MRM News Bites, read about efforts to help the restaurant industry and heroes as well as "new normal" restaurant technology and products. The company is exploring collaborations with corporate partners and charities, as well as merchandise sales, to keep its mission alive. "When Dining Bond Goes Global.
A common way for coffee shops to get financed is through business loan programs. Planned marketing strategies: Will you have a loyaltyprogram? Shelving if you're selling merchandise like hats or t-shirts. Coffee Shop Technology. Business loan. Check out the Small Business Administration site for more details.
The company has not yet announced further details on exactly how dynamic pricing will impact consumers, though it hopes that the new menu boards will “drive immediate benefits to order accuracy, improve crew experience and sales growth from upselling and consistent merchandising execution,” Tanner said on an earnings call. restaurants.”
To help you along, we’ve created a comprehensive guide to 4th of July restaurant specials that covers: How and when to plan your 4th of July specials What equipment and technology you’ll need 13 creative 4th of July restaurant deals and promotion ideas. Equipment and Technology. And speaking of merchandise… 9.
Allen comes to Checkers & Rally’s with a proven track record of success in the restaurant industry and deep expertise across brand strategy, menu and marketing, franchising, restaurant technology, and restaurant operations, among other disciplines. In early 2020, the brand added three restaurant veterans to its Board of Directors.
Despite the fact that technology impacts nearly every aspect of business, people still love a deal. Also, a surefire way to inspire brand loyalty means reaching your consumers in areas they frequent, such as a local supermarket chain. Loyalty Cards. Think that coupon advertising is obsolete in the digital age? Think again.
Fortunately for modern restaurant owners, technology has greatly advanced the restaurant management landscape. In the twenty-first century, restaurant software and technology have become exceptionally sophisticated, largely with the emergence of restaurant-related apps. Customer loyalty resources and gift card management.
But as cloud technology developed, the basic POS system transformed into a full-fledged restaurant management system. Nowadays, businesses can use a sophisticated point-of-sale system that is easy to use and offers good flexibility thanks to the quick development of technological tools.
Look into local energy-saving programs that might offer rebates or incentives. A well-designed loyaltyprogram can increase visit frequency and average spend while fostering a sense of connection with your restaurant. Use technology By now, saying “use technology” is a bit like saying “do marketing.”
Save with new smart restaurant technology These days, even your machines can save you money. New restaurant technologies can make a big difference as you work towards bigger margins. You may wish to also offer delivery, take reservations, and/or sell merchandise.
Successful growth requires a strategic approach that balances revenue planning, technology integration, and effective staffing choices. This could include offering catering services, launching a food truck, or selling branded merchandise. Use this data to personalize marketing efforts, improve service, and build loyalty.
These narratives build customer loyalty and can be the defining factor that keeps your tables filled. This includes optimizing your inventory to reduce waste, negotiating with suppliers for better rates, and employing technology to streamline operations. Use data analytics to understand dining trends and optimize menu offerings.
Build a loyalty or reward system . Aside from high-quality BBQ and service, a loyalty or reward program is also a viable alternative. . Aside from high-quality BBQ and service, a loyalty or reward program is also a viable alternative. . Fortunately, a reward program does not have to be difficult.
Save with new smart restaurant technology These days, even your machines can save you money. New restaurant technologies can make a big difference as you work towards bigger margins. You may wish to also offer delivery, take reservations, and/or sell merchandise.
You can easily make gift card giveaways work for your restaurant by leveraging restaurant technology. If you have a restaurant reward program like TouchBistro Loyalty , you can seamlessly request and collect reviews directly through your Customer Web App or by sending targeted email campaigns. Merchandise Giveaway.
The pressure to adopt new technology in your restaurant is everywhere. In a study by the Wharton School , researchers found that using tabletop technology can improve sales by 9.74% and productivity by 10.77%. The use of technology expedites each part of their process. Their job isn’t just to ensure a positive experience.
Technology can be an incredible help for achieving operational excellence and bringing in more revenue, so let’s look at the tech your restaurant needs today and in the years ahead. How does restaurant technology help you improve operational efficiency? AI tools even allow you to automate core tasks like food preparation or production.
This number reflects the unit’s total food, beverage, and merchandise sales through all the different revenue streams. Create an upselling program. One effective way of cutting down labour costs is by investing in technology. Customer Retention Rate or CRR is a method to measure your customers’ loyalty. What is revenue?
To calculate your restaurant’s gross profit, you need to subtract the total cost of goods sold (COGS) for a specific period from your total revenue (your total food, beverage, and merchandise sales). Take advantage of technology . And that is just one technological tool at your disposal.
To discuss this topic in more detail join “Restaurant of the Future: How to Take Advantage of the Digital Transformation,” a panel discussion about how technology spurred by COVID-19 will help shape the way restaurants operate, will take place on Thursday, Aug. And sensors technology is advancing rapidly. 20 at 4 p.m.
This edition of MRM News Bites features a lot of technology and robotic news, virtual food halls and healthy kid menus. Miso Robotics plans to offer financing options through TimePayments to empower food service providers to quickly adopt automation technology. Flippy ROAR for Sale.
Level 2: Daily Metrics Calculation with TechnologyTechnology can automatically make calculations daily, per day part, per channel, and more. By using technology to calculate metrics, you can optimize restaurant operations and ensure you’re running at maximum efficiency. Restaurant Financial Metrics 17.
Restaurant merchandise allows your brand to be given as a gift - either to or on behalf of some of your restaurant's biggest fans. For example, Cambridge Brewing Company often hosts giveaways for free beer and merchandise on Instagram. Restaurant email marketing goes hand-in-hand with a loyaltyprogram. Restaurant Merch.
Citing the immediate spike in demand for meal delivery services since the pandemic started, The Local Culinary’s new low-risk, low-cost, easy-to-implement program has been in development for the past two months. The new franchise program is now available nationwide. Franklin Junction Expands Grubhub Partnership.
7010 – Paycheck Protection Program (PP) Flexibility Act of 2020 which extends provisions of the act to give more time to both use and pay back the funds. In this edition of MRM News Bites, we feature the latest on PPP loans and newest tech and products to help restaurants on the road to recovery. PPP Goes Flexible.
They don’t have the luxury of time or space to check emails on a computer, join a town-hall meeting with the CEO, and other programs/activities that only office workers can have access to. Twenty-four percent more chain QSR customers reported using at least one restaurant’s loyaltyprogram on April 22 than did on January 22.
Kelly’s Bake Shoppe’s challenge: A half-baked rewards program. Like many bakeries, Kelly’s previously used physical punch cards to reward customers for their loyalty and entice them to keep coming back for more. It was also easy for Erinn’s team to learn how to use TouchBistro Loyalty. “It’s
More than 27 percent of Americans have not used cash to pay for food, beverages, merchandise, or services since Covid-19, and 77 percent will prefer contactless payments even after the pandemic ends. In fact, 44 percent Americans said convenience was the most important factor for ordering and paying for food and merchandise with their phone.
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