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Amid these potential disruptions, operators need a fresh approach to managing food costs. But it goes beyond figuring out how to source the freshest ingredients at the best price. Extreme Weather: By 2035, experts predict that higher temperatures alone will push up worldwide food prices by between 0.9 percent annually.
Prices have surged to unprecedented levels, driven by a combination of disease outbreaks, increased production costs, and regulatory changes. Understanding the factors behind rising egg prices and implementing strategic solutions is critical for navigating this volatile landscape.
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.
Faced with rising labor costs and increasingly price-sensitive customers, restaurant brands are exploring new ways to balance profitability with consumer expectations. One of the most debated strategies is dynamic pricing, which adjusts based on demand and other variables. They were asked to place an order from an online restaurant.
02, 2025 Facebook Twitter LinkedIn Wholesale egg prices have fallen 67% since their March peak. The 2,000-unit breakfast chain on Monday announced that it has lifted its 50-cent per-egg surcharge, which it instituted in February to help manage sky-high egg prices. By Joe Guszkowski on Jul. Thanks for understanding!”
Vice President of Brand Strategy for Sunny Street Cafe, tells Modern Restaurant Management (MRM) magazine. By combining proactive planning, strategic menu adjustments, operational efficiency, and strong vendor relationships, businesses can effectively manage these challenges while prioritizing customer satisfaction and food safety.
For example: Legal Sea Foods features a kid-friendly, diverse, and budget-conscious menu that includes healthier choices, allowing children to customize their meals with a "first bite," main dish, and two sides, with popular options like grilled salmon and fish fingers. How are kids' menus evolving?
Modern Restaurant Management (MRM) magazine asked Zabaneh to elaborate on best practices restaurant operators should put in place now. Minimizing MenuPrice Increases : Just because diners are still eating out and ordering in, does not mean they are happy about higher menuprices.
Instead of constantly playing defence with menu updates, imagine a centralized system that allows you to make menu changes instantly across every delivery app and direct ordering platform. What is MenuManagement Software? Think of menumanagement software as the control center for all your restaurants menus.
How rising import taxes may reshape menus, pricing, and sourcing in the restaurant industry. These policies, which will affect a wide range of imported goods, could ripple across the food and beverage industry in the form of higher prices, tighter margins, and evolving menus. With new U.S.
Your menu plays a vital role in your business marketing. So, let's dive deeper into the steps on how to turn your menu into a marketing tool. Optimize Menu Design for Customer Behavior A menu is often one of the first things a guest interacts with when entering a restaurant, right after taking in the atmosphere and interior.
AI-powered scheduling can predict peak hours, optimize labor costs, and help managers stay ahead of demand—without guesswork. For example, Taco Bell is using AI-driven labor and inventory management tools to fine-tune staffing and reduce food waste. Optimize pricing strategies based on real-time demand, reducing food waste.
You can have a crowd-pleasing menu, loyal regulars, and a packed dining roomand still watch your margins disappear. Too many restaurant menus are built on intuition and aesthetics, not real numbers. What Is Menu Engineering and Why Should You Care? Because not every dish thats popular is profitable.
In 2024, restaurant traffic slowed while price sensitivity grew. Revenue Management Solutions’ (RMS) Q3 survey revealed that 36 percent of respondents said they plan to dine out less, and a higher percentage reported a decline in dining out across all restaurant segments. Continued trepidation. Recurring customers. What is value?
Due to many factors including inflation and supply chain challenges, restaurant owners and operators have been faced with tough choice about raising menuprices. 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.
Restaurant owners looking to purchase an existing license can face prices up to $1 million depending on demand. Renewals, inspections, and compliance costs add even more overhead, making it difficult for new restaurants to manage these expenses. A well-crafted menu and unique ambiance can encourage customer loyalty.
Due to the manual review process and human intervention required, the process could take days before an interview was scheduled with a hiring manager. In 2024, food prices have been high and consumer spending has been stretched thin, making it even more difficult for restaurants to attract new customers.
"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 Modern Restaurant Management (MRM) magazine asked Singh to elaborate on his views on where the pricing model is headed in the QSR landscape.
While overall interest in AI-driven restaurant features remains low, loyalty is increasingly influenced by personalized promotions, according to the Summer 2025 Consumer Trends Report from Provoke Insights in collaboration with Modern Restaurant Management (MRM) magazine. This was only topped by grocery store increases at 79 percent.
Why QR Codes Matter Beyond the Menu Especially in today’s volatile economic environment, service-industry businesses have come to count on the flexibility QR codes provide as invaluable: “They’re able to adjust their menu offerings on the fly to account for elements like inflation, fluctuations in food and commodities prices, and (..)
Using the QSR traffic and sales data Revenue Management Solutions (RMS) has been gathering for 25-plus years, our analysts recently completed an exhaustive comparison of pre and post-pandemic data, comparing the first two quarters of 2022 and 2023 to the same period in 2019. Avoid across-the-board price increases.
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.
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.
These chefs might know how to source the finest ingredients, but no one’s taught them how to negotiate the price of those ingredients or keep suppliers from quietly eating away at their profits. Sales reps may come back with a price comparison guide that shows lower prices on specific items. Be wary of common tactics.
To reduce menu confusion and minimize price sensitivity, Ori’Zaba’s Scratch Mexican Grill recently rolled-out a rengineered and easier-to-read menu. The Ori’Zaba team told Modern Restaurant Management (MRM) magazine they watched people walk in and have a physical reaction to the three pricing tiers.
Striking a balance between value and price. As inflation continues to pummel businesses and consumers, QSRs are searching for ways to make their menus work harder. Is it possible to strike a balance between value and price to satisfy both parties? Have We Hit a Price Ceiling? Putting Value Back on the Menu.
Despite that Más Mex, the restaurant group behind Fat Rosie’s and Escalante’s, has decided to protect the guest experience at all costs, and we do that by managing ours more carefully than ever before. We’re not slashing service or trimming the menu. The key is control, not cuts.
In Revenue Management Solutions' (RMS) recent consumer report, Check, Please or Check Out , 24 percent of surveyed diners say they buy meals from grocery stores more frequently than a year ago. Adding pressure, price perceptions remain high. That doesn't always mean lower prices. Data from the U.S. What's Next?
Not all menu items are created equal, nor do they contribute the same profit to the bottom line. To take advantage of everything a menu has to offer, operators can use menu engineering, a technique that consists of analyzing each item’s contribution to the profit against how often it is purchased.
Behind the scenes, strategic decisions greatly impact a restaurant's bottom line, and at the forefront of these is the art of menu engineering. Far from just a list of dishes, a well-engineered menu is a powerful tool that can significantly increase a restaurant's efficiency and profitability.
At the same time, a rise in fast-food prices driven by inflation is reshaping consumer behavior, with many customers now treating fast food as a splurge rather than a convenience. This reduces waste and ensures menu availability, even during busy periods. Menu innovation has become a key way to deliver value.
In this guide, youre going to learn: The key components of effective restaurant operations management Common challenges restaurant owners face (and how to solve them) Best practices to run a more efficient and profitable restaurant Lets explore what it takes to manage restaurant operations like a pro.
To gain a legal perspectve on the potential significance of these tariffs, Modern Restaurant Management (MRM) magazine reached out to Brad Berkman , attorney in the Hospitality, Alcohol and Leisure Industry Group at Greenspoon Marder. Most of these increases in costs will be passed on to the consumer by higher menuprices.
Finding a well-rounded bar manager can be the determining factor in the success of your business. They also bring creative ideas to the table, such as improving the drink menu and coming up with new events and promotions to drive sales. In this article: How do you handle inventory management to keep the bar always adequately stocked?
While nearly one in ten respondents to a survey of more than 2,000 US diners conducted by Revenue Management Solutions (RMS) have used or are using GLP-1, it hasn't slowed their restaurant-going behavior. "However, they are also more price-sensitive and selective about their menu choices. calorie counts) will resonate.
If you are part of a working couple, managing a budget, paying for a mortgage, supporting two cars, and probably still paying off your student loans, then does going out to dinner make sense? Here are some thoughts: PRODUCT: Take a hard look at your menu. Reverse engineer your menu from this perspective.
Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their views on what trends and challenges owners and operators can expect to see in 2025. When consumers order more food online, it’s clearly good for business – but it can also make it harder for businesses to manage inventory.
Your staff, especially your restaurant manager, plays a crucial role in the overall dining experience. We’ve prepared a list of restaurant manager interview questions that can help you find the right person to lead your team and help grow your business. How do you manage the restaurant’s budget and control costs?
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.
Gathering and analyzing data lets you tailor your menus, services, and overall atmosphere to better meet diners' needs. Aside from improving restaurant customer experience , market research also helps you make informed decisions about location, pricing, and marketing strategies. Decide how you will measure the success of your research.
. "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
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features the present and future of AI use in F&B, The Splintered Path to Purchase, the Datassential 500 Awards, and where chefs are earning six figures. percent menu-price inflation rate. At the same time, U.S. chain sales grew just 3.1
To help restaurant operators better understand what employees want and need, close to 1,000 restaurant managers were surveyed regarding compensation, technology use, retention tactics, and more. Despite ongoing challenges in 2024, 67 percent of restaurant managers are optimistic about what 2025 holds for the industry.
-based diners who recently ordered from a QSR, fast-food or fast-casual chai also found that value is about more than just price. To delve more deeply into the results, Modern Restaurant Management (MRM) magazine reached out to Hope Neiman, Tillster’s chief marketing officer. Have guests’ needs changed?
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