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“Through expansive experiences that inspire our guests paired with the ambiance of the space and the food on the plate, we’re setting new standards for the industry and creating truly spectacular moments for all who enter our restaurants and bars.”
Post-Pandemic Dining: A Mixed Recovery One thing is clear: Diners haven’t returned to pre-pandemic dining levels. Limited-time offers (LTOs) and promotions that highlight quality ingredients can boost guest satisfaction and profitability without relying on deep discounts. Digital transactions now make up 18.6
Restaurant industry insiders offer their insights on F&B trends we can expect to see in 2024. Some customers have the gift of foresight, using DoubleDash to add on recovery (or hair of the dog) essentials from nearby stores. Quirky Combos : This year, we also saw some unique combinations!
Out of the Box: Monthly Restaurant Industry Update Restaurant Industry in Review: Trends from October 2024 OCTOBER: BY THE NUMBERS 0.5% And recovery for the industry is continued into October. And recovery for the industry is continued into October. Here are the most significant October 2024 Restaurant Trends.
Overall, “large parties,” or a party with eight or more guests, had a +2 percent increase in same-store transactions in Q4 2023 compared to Q4 2022. Cheers to 2023: Overall, restaurant and bar guests drank approximately +11 percent more alcohol in Q4 2023 compared to the average for Q1 through Q3 2023.
This finding from Expert Market’s 2024 F&B Industry Report sheds light on a clear culinary gap within the industry's workforce. This insight seems unsurprising, considering that data from April 2024 revealed 43 percent of small business owners in the US were unable to pay their full rent on time.
Out of the Box: Monthly Restaurant Industry Update Restaurant Industry in Review: November 2024 Restaurant Trends NOVEMBER: BY THE NUMBERS 0.5% Out of the Box: Monthly Restaurant Industry Update Restaurant Industry in Review: November 2024 Restaurant Trends NOVEMBER: BY THE NUMBERS 0.5% Comp Sales -2.5% Comp Sales -2.5%
effective March 31, 2024) introduced stricter encryption and anti-phishing measures. took effect on March 31, 2024, new measures like stronger encryption standards and anti-phishing protections were introduced. Separate networks for payment processing and guest WiFi to enhance security. New rules: PCI DSS 4.0
In the State of the Restaurant Industry Q4 2024 , the latest data from Black Box Intelligence reveals critical insights. Let’s jump into the trends and forecasts shaping the restaurant sector as we close out 2024. Thus, our previous predictions of a recovery have seemingly come sooner than we previously anticipated.
Monthly Out of the Box Insights Restaurant Industry in Review: Trends from July 2024 -2.3% However, the trends from July reveal valuable insights that can help restaurant operators navigate the remainder of 2024. And guests seemingly also slowed down their average spending per restaurant visit or order during July.
On September 16, 2024, more than 1,700 people gathered at the Lincoln Center in New York to watch 10 TED-style talks on one topic—hospitality. " Will Guidara kicked off the 2024 Welcome Conference. Who spoke at the Welcome Conference in 2024? The first step is your gaze. The third is conversation.
Out of the Box: Monthly Restaurant Industry Update Restaurant Industry in Review: Trends from September 2024 SEPTEMBER: BY THE NUMBERS 0.4% However, with Hurricane Helene and Milton, recovery remains fragile. Here are all the September 2024 Restaurant Trends you need to know. Comp Sales -2.7% reported back in July.
Out of the Box: Monthly Restaurant Industry Update August 2024: Is This a Turning Point? After several challenging months, signs of recovery are beginning to appear. Our expectation has always been for a stronger Q4 relative to Q3, and the latest data shows that the recovery may start earlier than expected. Comp Sales -3.6%
*Originally Published in the Aaron Allen & Associates Newsletter on 06/03/2024 The 50 fastest-growing emerging restaurant chains expanded their sales by a median of 35% year-over-year (in 2022). This growth rate has remained consistent through the years for fast-growing concepts with sales between $20m-$60m.
The fourth quarter was not good for restaurant sales; each month posted worse same-store sales growth than the previous month, according to Black Box Guest Intelligence. In addition, colder winter weather eliminated some potential for outdoor restaurant dining, favored by many guests who believe patio seating is a safer option.
However, we’re seeing some major shifts around menu creation, procurement, and dining habits of guests. Research Gate , Updated 2022) Food influencer marketing is expected to grow at a rate of 45% by 2024. Although we’re seeing some signs of recovery, it’s safe to assume that staffing issues will continue in 2023.
Ocean Spray is joining forces with Massachusetts Restaurant United and the COREcares Foundation for this hospitality stimulus, in addition to offering discounts on the brand’s cranberry products to support restaurants on the road to recovery during the COVID-19 pandemic crisis. ” Curbside Olo.
Turn Pricing into a Growth Strategy : A smarter approach to menu pricing can boost revenue and profitability without compromising guest experience. percentage points less than sales growth from the same two-month period in 2024. Explore Easier Access to Capital : Traditional loans aren’t the only option. percent) also grew.
As always, 2024 was far from a boring year for operators who are still trying to play catch up from the COVID pandemic four years ago. Lets quickly walk through the top restaurant stories of 2024. Big Restaurants Go Bankrupt The restaurant industry is always tough but 2024 was not kind for some big and local restaurant chains.
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