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– Frenchie Audette, VP of Food Service at Divert In 2024, the restaurant industry continued to adjust to changes sparked by 2020. After a challenging 2024, it’s promising to see restaurant operators looking ahead to 2025 with optimism. At the same time, technology is poised to play an even bigger role in the coming year.
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 2024. An issue that may arise from this in 2024 is data privacy. Read the first part, here. For the second part, click here.
Reliable experiences build brand loyalty, and systemic processes lead to reliable profit margins. The 2024 State of the Restaurant Industry report revealed that 22 percent of restaurant operators plan to invest in technology like POS software, back-of-house systems, and data analytics in the near future.
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 2024. Just as the transition to renewables and electric vehicles has thrived on collaborative efforts, we foresee more collaboration for the cultivated meat industry in 2024.
The year 2024 promises a journey of adaptation and fierce competition for the restaurant industry as it manages stronger-than-expected economic data and slowing inflation while dealing with the headwinds of short labor supply, more demanding customers and an uncertain political environment. The key lesson both establishments teach?
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 2024. We will rely heavily on the travel industry in 2024 to continue bringing us customers from local cities like Philadelphia, DC, Baltimore, New York, NJ, etc.
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. Gone are the days of cash-only transactions.
Online ordering has become extremely popular, so much so that digital sales will account for more than half of limited-service and quick-service sales by 2024. Give both the front-of-house and back-of-house their due by highlighting them in emails. Feature a staff member. Offer a small discount off online orders.
Hardee's, and Panda Express are just some of the leading restaurant chains that have added plant-based items to their menus over the past 12 months, with Del Taco, Qdoba Mexican Eats, Red Robin, and Yard House adding additional items to their existing plant-based offerings. This data covers U.S.
– Frances Allen, President and CEO, Checkers Brand loyalty took priority in 2023. Building these relationships with customers is key to attracting new guests and fostering long-term brand loyalty across locations. Each year, Modern Restaurant Management (MRM) magazine asks experts for their views on the state of the industry.
This post is adapted from our "What Restaurant Employees Want" report, originally published in May 2024. One method of this for back-of-house employees is 'station certification.' Visit our page to download the full report , which features insights from 1500 active restaurant employees and industry experts. More than half (64.3
In fact, 45% of restaurant operators expect their competition to be much more intense in 2024 than last year. The competition in the restaurant industry is getting tighter. That said, we've compiled some of the best techniques for increasing restaurant sales and taking your business to new heights.
Ike’s locations have industry-leading average unit volumes, which have only gotten stronger since the company overhauled its marketing technology stack, including an upgraded loyaltyprogram, a new website and easier online ordering. ” Ike's Loves Bangin' Buns.
Running a bar is a lucrative business, proven by the fact that this industry is estimated to be valued at a whopping $36 billion in 2024. Even better, it is expected to grow at an annual growth rate of 5.09% in 2027. While this could be a rewarding venture, opening a bar is not exactly the same as opening a food business.
The 2024 Square Future of Restaurants report surveyed thousands of restaurant owners and customers across the United States, Canada, and the UK. And over half of respondents said they plan to spend more on technology and automation tools in 2024. What Back-of-House Processes Can Restaurants Automate?
Customer loyalty is essential to running a successful business. A strong customer loyaltyprogram should utilize the three Rs: Rewards, relevance, and recognition. But customers also want to feel recognized, and your restaurant loyaltyprogram can provide the acknowledgement they crave.
That's why we compiled this list of ideas for both in-house and online experiences. Offer high end options A few years back the National Restaurant Association found that moms want to splurge on their special day with seafood, steak, and ethnic cuisine. Moms aren't the only winners, however.
Independent restaurants can barely cover the cost of their front and back-of-house staff, let alone a dedicated marketing resource. With 90% of restaurant operators reporting their customers are more value-conscious than they used to be, restaurants need to build their brand and drive guest loyalty with value-driven incentives. "SpotOn
Loyalty is a huge factor now as guests desire rewards and perks for sticking with a favorite small business, and repeat customers are keeping many restaurants going. No matter how much technology evolves, or trends shift, people will always come back for quality food, great value, and friendly service. How Do You Stack Up?
LoyaltyPrograms : Increase repeat visits by 42% and average check size by 28% with personalized rewards. This data can fuel targeted marketing campaigns to boost loyalty and increase the average spend per visit. Want to increase your restaurant’s profits by up to 100%? These insights help you make smarter decisions.
45% of consumers say that mobile ordering or loyaltyprograms encourage them to use restaurant online ordering platforms. 45% of consumers say that mobile ordering or loyaltyprograms encourage them to use restaurant online ordering platforms. Of course, loyaltyprograms shouldn’t be reserved just for dine-in customers.
To give you the full picture of the positives and negatives of what lies ahead for 2024, we combed through dozens of recent industry reports and compiled a list of 93 restaurant industry statistics. Restaurant Industry Stats 2024 – Our Top 10 10 restaurant industry stats for 2024 to keep in mind. Let’s dig in. billion by 2030.
That’s why we’re excited to share that Qu dramatically accelerated our certified integration partner program last year, adding 24 new integrators to our ecosystem. Back of House (BoH) – Streamline operations with Crunchtime, QSROnline, and Buyers Edge. Interested in becoming a Qu certified partner?
Restaurant owners negotiated payment plans with their landlords, many of which had prolonged forgiveness dates, but were often not able to pay back rent. " As we mark the fifth anniversary, MRM magazine surveyed restaurant insiders about the pandemic’s lasting impact on their businesses and the industry. ." – Pooja S.
As seen in the chart below, G2 also recognized SpotOn as one of the POS leaders in the restaurant industry in 2024. Awards: Leader, Highest User Adoption, Best Support - 2024 Rating: 4.5 / 5.0 Awards: Leader, Highest User Adoption, Best Support - 2024 Rating: 4.5 / 5.0 The onsite training was very well done."
Successful ghost kitchens lean heavily on integrated technology systems to accept online orders, process payments, and manage back-end operations. Are they still the back alley operation they used to be? It’s an open secret but cloud kitchens are as much about tech as they are about food. We wouldn’t either.
The National Restaurant Association’s Restaurant Technology Landscape report 2024 finds that 76% of operators say using technology gives them a competitive edge. This data lets you create personalised experiences that build loyalty and encourage repeat business. Tech helps operators to remain competitive.
Recipes – Your Core Data Set The back of house or production side of a food business is notoriously hard to manage. But with so many kitchen management systems vying for your attention, you need to narrow down the options. Here are the key considerations to look out for when making your decision.
Highlighting these standards protects your reputation and fosters loyalty, distinguishing your brand in a competitive market. Restaurants face safety challenges in their back-of-house (BOH) areas, including kitchens, refrigerators, and freezers. More than ever, customers consider cleanliness important when choosing a restaurant.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features an economic report from Yelp, super Super Bowl stats, delivery trends, megatrends, best cities for BBQ and top venues. Yelponomics. Yelp released its first-ever annual Yelp Economic Average? YEA) report, a benchmark of local economic strength in the U.S.
At the beginning of 2024, the NRA reported that 73% of operators expected profit to be less or the same over the year, with 38% saying they didn't make any profit in 2023. We all know it. Restaurant profit margins are pretty low. But not entirely because of inflation, labor shortages, and high food 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. Nearly half (47 percent) of diners say they engage with loyaltyprograms at least once a week, up significantly from just 34 percent in 2023.
percent by 2024, and 2020 will be a catalyst year that could drive that number up. They touched on topics such as delivery, ghost (dark) kitchens, automation, plant-based menu items, food waste, sustainability, staffing and retention and more. Rick Camac, Dean of Restaurant & Hospitality Management at the Institute of Culinary Education.
47% 47% of operators predict an increased reliance on technology and automation to address labor shortages in their type of restaurants by 2024, including 44% of full-service and 49% of quick-service. trillion in 2024. trillion in 2024. 65% 65% of customers prefer self-service kiosks. trillion U.S.
percentage points less than sales growth from the same two-month period in 2024. This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features Yelp's Top Places to Eat in the U.S., decline in veganism, shift away from seed oils, Starbucks Monday, and spirts holding steady. percent, which is about 1.5
The quicker businesses can feed that information back into operations, the better, whether for personalized dining, staffing optimization, or advertising and marketing. So much data is generated at every point within a restaurant, whether fast casual or fine dining.
An 'Out of the Ordinary' Year for Independents 2024 was an “out of the ordinary” year for independent restaurants, according to TouchBistro's 2025 State of Restaurants Report. AI usage has also skyrocketed, primarily in the back-of-house.
Restaurants will continue to invest in comprehensive Back-of-House Technologies Following the pandemic, restaurants focused heavily on Front-of-House technology to streamline and digitize the diner experience. Many operators have a wealth of data but aren’t putting it to work.
Voice of the Restaurant Industry Toast's 2024 Voice of the Restaurant Industry some insights and data suggesting a cautiously optimistic outlook: profits are rising, with 63 percent reporting increased margins compared to last year.
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