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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. Rewards for Loyalty.
Don’t worry, if you are searching for the best way to attract and retain more and more customers, then you must try implementing a loyaltyprogram. With proper loyaltyprogram management, you will be able to improve your sales as well as customer engagement. Key Benefits of Loyalty Reward Programs.
AI Will Improve Customer Loyalty I don’t know believe there is any other industry in which customer loyalty is more important than it is in the restaurant industry – especially now. Restaurants succeed or fail based on loyalty, which is a direct result of customer experience.
“This enduring customer loyalty drives the restaurant industry forward, creating clear opportunities for restaurants to enhance the dining experience through strategic limited time offers, efficient delivery and exceptional in-person service," said Samir Zabaneh, CEO of TouchBistro.
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.
Here’s how loyaltyprograms often pan out: A customer downloads the app. Although the average consumer belongs to 15 or so loyaltyprograms, they use fewer than seven. So how can you make your loyaltyprogram stand out instead of going stale? Does that sound familiar?
The report found that loyalty is eroding as brands worked hard to offer new limited time offers, value meals, upgraded loyaltyprograms, and digital innovations. based diners who recently ordered from a QSR, fast-food or fast-casual chai also found that value is about more than just price. The survey of 1,500 U.S.-based
Restaurateurs should monetize word-of-mouth recommendations through referral programs and social media contests. More than half of customers identified consistent product and service quality, followed by affordability and value for the price as their primary reasons for remaining brand loyal.
Promotions and loyaltyprograms are necessary to convince Americans to dine out more frequently, according to new research from Provoke Insights and Modern Restaurant Management (MRM) magazine. Americas still want to dine out, so promotional deals and loyaltyprograms make them feel like they are being responsible with their money.”
Restaurant owners looking to purchase an existing license can face prices up to $1 million depending on demand. By curating a distinctive cocktail program, restaurants can tap into this demand, attract a broader audience, and encourage repeat business. A well-crafted menu and unique ambiance can encourage customer loyalty.
Despite 93 percent of QSR operators indicating they raised prices in 2024, nearly two-thirds (64 percent) reported increased traffic across all dayparts, according to TransUnion’s QSR Industry Report: Bridging the Affordability and Profitability Gap.
At the same time, economic uncertainty, consumer price sensitivity, and limited resources remain pressing concerns. Data-backed loyaltyprograms, in particular, present a key opportunity for marketers to foster deeper customer connections in 2025. Here’s what you need to know to make the most of loyalty marketing in 2025.
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.
. – Jay Fiske, President, Powerhouse Dynamics Beyond the App: Loyalty and Data-Driven Personalization In 2025, loyalty and digital innovation are set to shape the QSR industry more than ever. A great example of this is McAlister’s Club MCA – designed to elevate the guest experience for loyalty members.
"Restaurants thinking about implementing surge pricing need to balance the revenue upside with the potential brand backlash," says Savneet Singh, CEO of PAR Technology. "While ’" Is it possible for restaurants to have the best of both worlds and maximize revenue and still capture customer loyalty? Yes, and yes!
Heres how it works: Instead of pricing items individually, menus show a combined price that offers a slight discount compared to ordering each item separately. Prix Fixe Menu: A multi-course meal at a set price encourages guests to order more while offering an elevated dining experience. Why do bundles work?
In 2025, the meaning of "value" to the dining consumer will extend beyond price to include a mix of experience, hospitality and affordability. To address this demand, restaurant operators must strike a balance between offering value-based pricing while ensuring cleanliness alongside a friendly, approachable staff.
In the restaurant and hospitality industries, that meant the prioritization of touchless programs and dynamic digital collateral – menus, hours and other important information that could be updated easily and often to respond to changing conditions. Nintendo uses QR codes within its gaming system to share avatars.
. "Value is a broader tent than price, but price is an important value platform when consumers are faced with high inflation or a personal economic situation such as a job loss," Tim Fires, president of global foodservice at Circana, told Modern Restaurant Management (MRM) magazine. "We
Striking a balance between value and price. Is it possible to strike a balance between value and price to satisfy both parties? To answer that question, Revenue Management Solutions (RMS) examined two factors: the impact of price increases on QSR sales performance and consumers’ perception of value. Is it possible?
While two-thirds of guests say they would not dine at a restaurant that uses dynamic pricing, interest increases when the concept is framed as a discount offered through a membership for off-peak hours, according to the Summer 2024 Consumer Trends Report from Provoke Insights in collaboration with Modern Restaurant Management (MRM) magazine.
That’s why we’re excited to introduce a new, free loyaltyprogram for your restaurant. What is ChowNow’s new loyalty product? ChowNow’s new loyalty product is a membership program between diners and your restaurant. ChowNow’s new loyalty product is a membership program between diners and your restaurant.
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.
However, 30 percent of high-income consumers are dining at TSRs more frequently than before, signaling room for premium offerings at the right price. Value Isn’t Just About Price—It’s About Experience Price sensitivity may be at an all-time high, but focusing solely on discounts risks missing the bigger picture.
.” Value-Driven Dining for the Modern Consumer – In a time when consumers seek out both quality and quantity, L&L continues to provide substantial portions at an accessible price point. Value is about more than price—it’s about the quality of the food, the atmosphere, and the service.
LTOs also help you spotlight high-margin items or move excess inventory without slashing prices across the board. These menu engineering tactics are subtle, yet can significantly increase restaurant revenue without overhauling your menu or hiking up menu prices. Simple, easy, and automated.
Value pricing will eventually become a less effective tactic for restaurant brands with the market becoming oversaturated with discounted options. To do so, they must evaluate how value can be derived outside of price point. Operators must consider how they can strategically ease customers back into full price menus.
Operators would see increased prices in their supply chain, resulting in rising costs to their guests as well. This level of customization not only enhances guest satisfaction but also drives customer loyalty, which is crucial in our competitive market. In terms of operations, we're seeing a trend towards integrated systems.
Every online order, email sign up, and reward program interaction generates valuable insightsbut if that data just sits there, youre missing a major opportunity. The more you understand your customers, the better you can fine-tune your marketing and pricing strategies. Restaurants collect a ton of customer data.
Personalization is key to successful loyaltyprograms, according to the 2024 Paytronix Loyalty Trends Report. "Top "Loyalty innovation is not always true innovation," Lynch added. "It’s "Restaurants have a loyaltyprogram but haven’t put in place many best practices (i.e.
For customers, wearing your brand is a way to show pride in their favorite neighborhood spot, and for you, it’s a strategic way to build community visibility and deepen brand loyalty. The resulting improvements in both employee satisfaction and customer perception demonstrate the strategic value of a thoughtful uniform program.
Segments like the College and University sector are attempting to plan budget for FY 2026 and are not able to get reliable pricing from their partners across the supply-chain. ” Higher tariffs will certainly cause prices to rise for U.S. ” Higher tariffs will certainly cause prices to rise for U.S.
By now, loyaltyprograms have shifted from a “nice-to-have” to a “need-to-have” for restaurants looking to retain customers and drive revenue amid record inflation figures and increased prices. In fact, research from Accenture found that more than 90 percent of companies have some sort of loyaltyprogram.
Revenue growth in 2024 was largely driven by menu price adjustments. Although concerns about customer sensitivity influenced pricing decisions, only 9 percent of restaurants did not change prices in 2024, down 19 percent from 2023, indicating a stronger shift towards strategic price increases.
Mobile ordering has become the preferred method for customers, with 71% saying they would rather use a restaurants branded mobile app over third-party platforms because its more affordable, easy to use, and personalized due to loyaltyprograms. Be sure to understand the pricing structure and how it fits into your budget.
Restaurant loyaltyprograms 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 loyaltyprograms evolving? Loyaltyprograms are made to cater to customers' ever-changing needs and expectations.
Running your own online ordering system gives you complete control over pricing, promotions, and customer data, helping you maximize profits while still offering convenience. With your own online ordering system, you can collect emails, send promotions , and encourage repeat business with reward programs or special discounts.
Understanding your target market is the foundation of making smart decisions for your menu, pricing, and overall guest experience. Meanwhile, a fine-dining steakhouse targeting business professionals will prioritize a refined menu, premium pricing, and marketing efforts that focus on corporate events and high-end experiences.
This capability can prove invaluable for refining pricing strategies, optimising ingredient and waste management, and planning forthcoming shifts, among other benefits. To capture their attention and loyalty, businesses, including restaurants, must prioritise easy access and convenience. Nothing is fraud proof.
If customer retention is a priority consider a digital loyaltyprogram or automated marketing tools. A higher-priced system that saves time and reduces errors might be more valuable than a cheaper, less effective alternative. If expansion is in your future choose scalable, cloud-based technology that grows with your business.
Order Accuracy Rate Customer loyalty is significantly impacted by the order accuracy rate, which measures how often customers receive exactly what they ordered. Promotions & Discounts: Limited-time deals and loyaltyprograms can incentivize more online orders. Portion size. How well your menu is optimized for delivery.
LoyaltyPrograms. When registering for a loyalty, your customers give you some of their information to qualify. Loyaltyprograms also allow you to collect behavioral data. If your loyaltyprogram is set up with each of your ordering channels (in-store, online, and on your app), you can track how customers order.
Fast food chain Wendy’s has announced plans to test “dynamic pricing” at its locations across the country, beginning in 2025. According to CNN, the move is a part of the chain’s $20 million investment in digital menu boards, which will allow it to tweak the price of a Biggie Bag or Frosty in real time. If so, you’re in luck!
Dynamic pricing on these platforms might be necessary to combat some of the lost revenue due to fees. Another is to add convenience like saved orders, saved payment methods or Apple Pay, loyaltyprograms, and personalized offers or perks. Loyalty rewards don’t have to include discounts and coupons anymore.
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