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The main takeaway: It’s led to higher prices and lower foot traffic at many of the state’s dining establishments. With customers seemingly viewing dining out a luxury, restaurants that can differentiate themselves in terms of quality and value will have a competitive advantage.”
Suddenly we find that 2024 is almost behind us now but Future Food would like to share with you the trends and insight that we see across the food and hospitality sector. From the rise of AI to the increasing popularity of experiential dining, businesses are adapting creatively to meet new consumer demands.
In fact, 45% of restaurant operators expect their competition to be much more intense in 2024 than last year. During this time, parents are more concerned with buying their children's books and uniforms than spending $20 on a takeout meal. customers who can actually visit and dine at your restaurant.
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. Your business name will also appear on your marketing materials, staff uniforms, menu, social media accounts, and advertisements, so make sure it isn't too long or complicated.
It allows you to: Keep tabs on inventory levels at each location Move stock between restaurants when needed Maintain consistent recipe costs, ensuring uniform pricing and margins Analyze usage trends to fine-tune ordering The system’s data analysis tools offer valuable insights into inventory performance.
So much data is generated at every point within a restaurant, whether fast casual or finedining. The question now becomes – how to make sense of that data and use it to elevate the dining experience. The question now becomes – how to make sense of that data and use it to elevate the dining experience.
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