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The rapid evolution of payment technology over the past decade has had a profound impact on industries worldwide, and the restaurant sector is no exception. 2025 presents a unique opportunity for the restaurant industry to fully embrace payment technologies that have previously remained on the periphery.
Widespread Adoption of Technology Solutions in Food Service In 2025, the food service industry will increasingly leverage technology for waste tracking and diversion. – Frenchie Audette, VP of Food Service at Divert In 2024, the restaurant industry continued to adjust to changes sparked by 2020.
On October 1st in Chicago, Meta’s Restaurant Summit brought together more than 100 marketers from some of the most recognizable franchises in the industry for a buffet of diverse programming, discussion, and exploration into the world of restaurants. Meta Study, June 2024. Meta Q2’24 Earnings, July 2024.
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. This trend reflects the growing popularity of drive-thru and fast-casual dining, coupled with the demand for digital technologies such as QSR digital signage and QR codes.
More than eight in ten restaurant operators expect 2025 sales to meet or exceed 2024 levels, but rising competition will require differentiation through experience, service, and innovation, according to The National Restaurant Association’s 2025 State of the Restaurant Industry report. Restaurants aim to attract more in-person diners.
Reliable experiences build brand loyalty, and systemic processes lead to reliable profit margins. As chain restaurants continue to integrate new technologies into their daily operations, store-to-store standardization of these technologies is often an afterthought.
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've reached a point where we're recognizing the value and limits of these technologies.
In this edition of MRM Research Roundup, we feature pizza predictions, Valentine's Day menu trends and lots about loyalty. Pizza Ordering Predictions HungerRush released the results of a national dining survey on 2024 pizza ordering predictions for The Big Game (February 11) and National Pizza Day (February 9).
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.
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.
The research found that businesses worldwide – particularly restaurants – intend to experiment more in 2025, especially with customer retention programs like loyalty, as they face the triple challenge of sustained high inflation, shrinking consumer wallets and the need to raise prices across the board.
The right restaurant technology is essential to make it all happen. By focusing on key technologies like point-of-sale (POS) systems, local dining businesses can maximize their investments and position themselves for success in a digital-driven industry.
This stresses the need for customer retention programs. Thus, loyaltyprograms are the best ROI-driven strategy for customer retention. This customer loyalty stays strong, negating the changing market landscape. So, let us explore the top strategies to develop customer retention programs.
But two non-negotiables have remained strong for diners: convenience and loyalty. The NCR Voyix 2024 Digital Commerce Index revealed nearly half (48 percent) of consumers dine out less than they used to because inflation is top of the menu. In doing so, they improve the customer experience, which, in turn, increases loyalty.
But if last year was any indicator, restaurant operators are on the road to relief in 2024. In 2024, we expect these trends to shape the restaurant sector. In 2024, restaurants should make the dining-out experience worth the price tag. And despite warnings of an imminent recession at the end of 2022, the U.S. Coffee in 2023.
This final edition of Modern Restaurant Management (MRM) magazine's Research Roundup for 2024 features news of operator challenges and priorities, delivery trends, wages and hourly worker considerations. Those priorities include increased marketing and sales efforts alongside new benefits and programs to attract and retain staff.
Cracking the Code of Restaurant App Usage, November 2023 ) What Customers Value RMS segmented respondents by generation, and while preferences varied, all ages placed the most value on: Exclusive deals Loyalty-based incentives Customization What They Don’t Value On the other hand, crashes or technical issues ranked as the biggest pet peeve.
The food industry has been historically slow to integrate technology and digital solutions. Here are the ways technology is revolutionizing the culinary world through. Using cutting-edge technology positions restaurants to unlock a wealth of prospects to enhance the customer experience.
Technomic’s revised predictions for 2024 revealed a challenging road ahead for the restaurant industry, which has been plagued by rising prices and shifting consumer behavior since the onset of the pandemic. However, 80 percent of brands don’t believe that their current loyaltyprograms are delivering the satisfaction they desire.
This can ultimately lead to lower customer satisfaction and loyalty. Investing in comprehensive training programs is key to meeting these skill requirements. Acknowledging the importance of work-life balance, flexible scheduling, and support for personal commitments is becoming standard practice to improve staff well-being and loyalty.
Despite the bite from inflation, TouchBistro’s 2024 U.S. “A whopping 53 percent of Gen Z told us they engage with a restaurant loyaltyprogram once a week or more often, versus just 22 percent of Boomers who said the same,” said Pendrill.
Notably, not enough investment in technology and digital transformation. Co-founder, Carbonate Looking back at 2023, I witnessed a significant shift in how restaurants approach loyaltyprograms. I can predict that the need for advanced technologies in the restaurant industry will only continue to grow.
In terms of loyalty, The Keg Steakhouse and Bar, HuHot Mongolian Grill, Texas Roadhouse, Longhorn Steakhouse, and Cheddar's Scratch Kitchen top the Customer Loyalty Index, underscoring a strong consumer preference for steakhouse brands. FoodTok and friends promote neighborhood discovery.
Will 2024 be a comeback year for restaurants? Despite challenges including inventory costs, commission fees and staff turnover, many restaurant owners are expressing optimism about moving forward, according to TouchBistro’s 2024 State of Restaurants Report. I think automation will be the biggest trend of 2024.
Invest in Technology The simplest way to reduce labor needs in any business is to use technology to streamline and automate processes. The short-term costs of a comprehensive training program may be high but the investment will pay handsome dividends in the long run.
In the fast-paced world of fast food, integrating Artificial Intelligence (AI) has been a topic of heated discussion, especially with giant brands adopting (…or, ahem, dropping) this new technology to enhance customer experience and operational efficiency.
Using technology to facilitate contactless payments, online ordering, and quick table rotation can increase consumers’ satisfaction and loyalty. Implement personalized suggestions, loyaltyprograms, and special incentives to make each diner feel appreciated and understood.
In 2023, the restaurant industry experienced a remarkable transformation, driven by the rapid integration of advanced technologies. This helped them improve customer relationships, loyalty, satisfaction, and retention. Blockchain technology may play a pivotal role in enhancing supply chain transparency and resilience.
With data showing that 65 percent of gift card recipients spend approximately 38 percent more than the face value of their cards, restaurant brands should be taking action to optimize their gift card programs for the holiday season. This attitude has shifted, however, particularly with the advent of smartphone technology.
. – 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. Like most new technology, it takes time for society to adapt and recognize its benefits.
Best restaurant marketing ideas for 2024 Here are some of the proven and tested restaurant marketing ideas you can try in 2024: Offer your customers rewards using loyaltyprograms 47% of diners in loyaltyprograms say they use their memberships a couple of times monthly, and 32% use them several times weekly.
Operators plan to increase direct online ordering capabilities in 2024 to take control of takeout profits Tech plays a vital role in increasing earning potential for staff, promoting retention Kiosks provide faster service, resulting in more transactions and higher check averages SAN FRANCISCO, Calif.,
This finding from Expert Market’s 2024 F&B Industry Report sheds light on a clear culinary gap within the industry's workforce. This might include offering competitive compensation packages, enhancing workplace culture, and leveraging technology that allows for more efficient hiring processes. percent for QSR restaurants.
SAN FRANCISCO — July 1, 2024— SpotOn , the top-rated software and payments partner for restaurants, announced today that it has been added to the U.S. Foods CHECK Business Tools program.
Entering 2024 brings uncertainty but holds hope for growth. The restaurant industry’s optimism rests on customer loyalty, with 9 in 10 consumers considering dining out an essential lifestyle choice. Consumers play a crucial role in 2024, with expectations of lower interest rates and controlled inflation.
With rising costs and shrinking profit margins, it’s essential to leverage technology to enhance efficiency, reduce costs, and boost revenue. A payment processor with advanced features like customer profiles, integrations, and loyaltyprogram functionality can help you build stronger, and more profitable, relationships with your patrons.
91% of restaurants are looking to kitchen automation technology to help streamline their operations in 2021. 42% of restaurants plan to invest in customer loyaltyprograms. Digital sales will account for more than half of limited-service and quick-service sales by 2024. Constant Contact ). 45% have downloaded two or more.
For example, menu design, loyaltyprograms, operational efficiencies, and improved guest experiences. Rather but builds long-term loyalty and increases profitability. The Role of Promotions vs. Everyday Value Short-term discounts can drive transactions, but they dont always build long-term loyalty.
In 2024, we saw these applications move from the drawing board to the laboratory. The first applications of this technology are already in play, and I expect it to expand as quickly as brands can deploy the infrastructure. AI as a Strategic Planner: Today, every decision in a QSR is a technology decision.
Eight months after the acquisition by Capriotti’s, Wing Zone is rolling out a brand refresh which features technology upgrades, a revamped menu, an energized restaurant design and experience, a new logo and other assets designed to further position the brand as one of the undisputed leaders in the chicken wing category.
Technology and automation, once considered an additional expense, has now become a necessity in the F&B industry. Technology and automation have helped restaurants transform in the way how they operate and thrive in the new connected and contactless era. 6 Technology Trends For Restaurants In 2021. Contactless Payments.
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.
As we settle into 2024, the restaurant industry stands on the cusp of transformative changes, shaped by evolving consumer preferences, sustainability concerns, and a relentless pace of technological innovation.
Then being a restaurant owner, why wouldn’t you prefer the latest restaurant technology for the business’s smooth operation & long-term growth. To be updated and evolv e the latest technology, POS software is being designed for this purpose. Everything is now digitalised! What is Restaurant POS software?
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