Modern Restaurant Management

APRIL 17, 2024

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.

Pricing 493

Pricing Loyalty Program Customer Experience Consumer Goods 493

Modern Restaurant Management

APRIL 9, 2024

A chief reason is due to caution or uncertainty exhibited by conscious consumers, with 48 percent saying they are taking the ‘wait and see’ approach and holding back on spending in 2024. So, what’s the solution? ” It gets better.

2024 508

2024 Mobile Ordering Front of House Fast Casual 508

Modern Restaurant Management

JANUARY 2, 2025

Restaurant owners looking to purchase an existing license can face prices up to $1 million depending on demand. The Future of the Restaurant Industry With restaurant sales projected to exceed $1 trillion in 2024, the competition is fierce. The Hidden Costs of a Full Liquor License and a Cost-Effective Solution Across the U.S.,

License 472

License Loyalty Program Innovation Customer Service 472

Modern Restaurant Management

OCTOBER 9, 2023

The data also supports what RMS has been advising: pricing must be strategic. Insights from transactional POS data specific to locations and customer segments can help operators assess where item sensitivities are low or high, indicating which items might have further pricing opportunities and which don’t.

Pricing 482

Pricing 2023 2019 2022 482

Modern Restaurant Management

MARCH 21, 2024

As we head into 2024, all eyes are on the Federal Reserve as interest rates hold the key to employment and the consumer spending fueling the small business economy. In all, we expect 2024 to be a better year for business than 2023 as the Federal Reserve executes the soft landing it has been seeking since this tightening cycle began.

2024 450

2024 Small Business 2023 Food Truck 450

Modern Restaurant Management

FEBRUARY 24, 2025

Revenue growth in 2024 was largely driven by menu price adjustments. Although concerns about customer sensitivity influenced pricing decisions, only 9 percent of restaurants did not change prices in 2024, down 19 percent from 2023, indicating a stronger shift towards strategic price increases.

2024 251

2024 2025 2023 Loyalty Program 251

Modern Restaurant Management

DECEMBER 18, 2023

It’s the perfect time to look back on a few things we learned in 2023 – based on recent survey data from our restaurant partners – as well as what we predict for the industry in 2024. 2024’s Outlook: Positive The restaurant industry is cautiously optimistic as we head into the new year.

2024 506

2024 2023 Back of House 2022 506

Modern Restaurant Management

DECEMBER 27, 2023

As the calendar turns towards 2024, the restaurant industry stands at a crossroads, with innovation and adaptation at the heart of its ongoing evolution. These factors contribute to a volatile supply chain, influencing everything from ingredient availability to menu pricing strategies.

2024 506

2024 Food Supply Kitchen Safety Influencer 506

Modern Restaurant Management

DECEMBER 30, 2024

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. The innovations introduced in 2024 set the stage for progress, but 2025 is the time to move from experimentation to optimization.

2025 450

2025 Dine-in Mobile Ordering Customer Experience 450

Modern Restaurant Management

DECEMBER 17, 2024

– 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.

2025 419

2025 Loyalty Program Customer Experience Online Ordering 419

Modern Restaurant Management

JANUARY 20, 2025

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. Stop Overpaying Your Distributors In 2024, Sysco reported a gross profit of $14.6 Let’s get started. billion, reflecting a 4.7

Operations 418

Operations Beverage Point of Sale Pricing 418

Modern Restaurant Management

MARCH 10, 2025

However, 30 percent of high-income consumers are dining at TSRs more frequently than before, signaling room for premium offerings at the right price. Value Isn’t Just About Price—It’s About Experience Price sensitivity may be at an all-time high, but focusing solely on discounts risks missing the bigger picture.

Loyalty Program 251

Loyalty Program 2024 Customer Experience Consumer Goods 251

Modern Restaurant Management

FEBRUARY 7, 2025

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.

Definition 282

Definition 2025 Loyalty Program Fine Dining 282

Modern Restaurant Management

NOVEMBER 14, 2024

Despite 93 percent of QSR operators indicating they raised prices in 2024, nearly two-thirds (64 percent) reported increased traffic across all dayparts, according to TransUnion’s QSR Industry Report: Bridging the Affordability and Profitability Gap.

Loyalty Program 251

Loyalty Program 2025 2024 Communication 251

Modern Restaurant Management

MARCH 24, 2025

To identify the Fastest Growing Brands, the data science team ranked brands using a blended metric including net new business openings, consumer interest, and searches on Yelp in 2024 compared to 2023. For this report, we measured consumer interest in 2024 compared to 2023.

2024 221

2024 2023 Customer Experience 2025 221

Modern Restaurant Management

JANUARY 10, 2025

Mintel’s 2024 Global Consumer Trend ‘Relationship Renaissance’ revealed that coming out of the pandemic, consumers expressed an eagerness to seek connection with purpose. Today’s diners expect more than just good food—they seek environments that captivate, connect and surprise.

2025 419

2025 Design Innovation Social Media 419

Modern Restaurant Management

MARCH 12, 2025

Chamber of Commerce said in a recent report that the number of verdicts above $100 million reached a record in 2023, up nearly 400% from 2013 as reported in The Wall Street Journal’s 2024 piece, “‘Nuclear’ Jury Verdicts Rise Alongside American Anger.”

Food Safety 373

Food Safety Insurance 2013 2024 373

Modern Restaurant Management

FEBRUARY 5, 2025

11, 2024, comparing it to the average Sunday in 2024 and found that: Wings win MVP with an 87 percent increase in sales The average price of wings ordered increased 18 percent. The average price of wings increased 18 percent, likely due to demand and larger orders. Toast analyzed data from restaurants on Sunday, Feb.

2024 309

2024 Food Order Delivery Sports 309

Modern Restaurant Management

JANUARY 30, 2024

So, what can the QSR industry expect in 2024? Net sales are primarily driven by average check increases and pricing opportunities are diminishing. percent in December 2022 and the steep rate of average price increases by QSRs has slowed to just +4.5 The operative word, however, may be “half.” Inflation slowed to 3.4

2024 405

2024 Fast Casual Point of Sale 2023 405

Modern Restaurant Management

JANUARY 3, 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. 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.

2024 332

2024 Loyalty Program Customer Experience Customer Service 332

Modern Restaurant Management

MAY 13, 2024

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. But two non-negotiables have remained strong for diners: convenience and loyalty.

Pricing 493

Pricing Loyalty Program Mobile Ordering Customer Service 493

Modern Restaurant Management

DECEMBER 31, 2024

Dash from the Past DoorDash unveiled their annual Dash From The Past 2024 Trends Highlights – packed with fun, unique insights from the year! Top Purchases For 2024’s Most Memorable Moments Serving Looks : After weeks of watching the pros at the US Open, consumers felt inspired to hit the courts themselves.

2025 450

2025 Beverage Fine Dining Guest Recovery 450

Modern Restaurant Management

JUNE 28, 2024

The main takeaway: It’s led to higher prices and lower foot traffic at many of the state’s dining establishments. “As a result of the minimum wage increase, most chains have raised prices in the region anywhere from the mid-single digits to the midteens,” writes Hottovy. percent lower than the national average.

2024 294

2024 Mobile Ordering White Paper Customer Service 294

Modern Restaurant Management

JULY 9, 2024

percent YOY) and throughout 2024 were primarily due to price increases, which have surged nearly 50 percent in some segments since the pre-pandemic era and were still up 3.0 Additional insights into QSR sales, traffic, and pricing trends are in the Revenue Management Solutions June Trend Report. Positive net sales in May (+1.9

2024 474

2024 Point of Sale Consumer Goods Pricing 474

Modern Restaurant Management

MARCH 20, 2024

Scaling and Attracting Investors To effectively scale a multi-unit restaurant business in 2024, courting investors is often necessary. Is growth coming only from price increases and therefore, higher AOV or is the restaurant doing a better job of upselling and generating more revenue from every transaction?

2024 450

2024 Cash Management Food Sustainability 450

Modern Restaurant Management

APRIL 10, 2024

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. Adapt to Growing Price Fatigue Since the pandemic, controlling food costs has been a major challenge for restaurant operators. Full-service menu prices climbed 4.5

2023 492

2023 Point of Sale Loyalty Program 2024 492

Modern Restaurant Management

DECEMBER 31, 2024

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. The primary response was menu price increases, with nearly 61 percent of respondents adjusting prices to cope with the new reality.

Franchising 221

Franchising Franchise 2024 Mobile Ordering 221

Modern Restaurant Management

APRIL 1, 2024

Despite a general decline in dining frequency, families have shown resilience and an increased appetite for dining out, according to Revenue Management Solutions' Q1 Consumer Survey, “ Dining Dynamics in 2024: The Shifting Landscape of Consumer Tastes.” Strategies for Attracting Family Business Given a -2.1 Amp up your app.

Catering 486

Catering Fast Casual 2024 Customer Service 486

Modern Restaurant Management

MARCH 11, 2025

While working hard to bring customers back into the restaurant is very important for success, it has become more important to figure out the third-party equation in terms of pricing, commissions and fees, and value – which is ultimately the difference between success and failure.

Loyalty Program 471

Loyalty Program Mobile Ordering Customer Experience Online Ordering 471

Modern Restaurant Management

DECEMBER 28, 2023

2024 AI Predictions As we enter the year 2024, the restaurant industry is on the brink of changes driven by AI that go beyond what is ordinary. Dynamic Pricing Strategies : Using AI algorithms menu prices will be dynamically adjusted, based on factors optimizing revenue and adapting to real time market trends.

2024 309

2024 Dietary Restrictions Customer Experience Customer Service 309

Modern Restaurant Management

DECEMBER 27, 2023

restaurant industry will continue to shake off the aftereffects of the pandemic in 2024, but that doesn’t mean the challenges that remain are easily dispelled. It’s a continuing problem into 2024 for establishments that serve, making it critical to have adequate liquor liability insurance.

2024 294

2024 Insurance Recruiting Restaurant Law 294

Modern Restaurant Management

FEBRUARY 13, 2025

percent in 2024. Increase in average prepaid value: The average prepaid reservation has increased 36 percent to $102 so far this year, up from $75 in 2024.²This Recent diner data from OpenTable shows that in the US,Valentine's Day reservations are trending higher than 2024, up double digits YoY.

2024 221

2024 Fine Dining Book Reservations 221

Modern Restaurant Management

JULY 16, 2024

RP: Amid heightened inflation, interest rates and food costs, buyers and sellers are looking for signs of stability when it comes to M&A in the second half of 2024. The best indicator of stability is often a target’s strong financial returns and a track record of consistent cash flow.

2024 275

2024 Cash Management Beverage Entertainment 275

EATER

DECEMBER 20, 2024

In just the last couple of years, the country has tallied one of the worlds highest inflation rates, and a new far-right governments attempts to rein in price increases in 2024 triggered a recession and surging poverty. As of late November, that price was at 25,000 pesos, or about $22, up from 9,000 a year prior.)

Point of Sale 287

Point of Sale Merchandise Pricing Seasonal Menu 287

Modern Restaurant Management

AUGUST 2, 2024

Restaurant leaders representing nearly 3,700 QSR, fast casual, casual dining, and fine dining locations shared 2024’s top challenges and opportunities alongside plans for investment in back-of-house technology, increased sales, and team training, benefits, and support. LTO Impact A new Placer.ai The survey of more than 1,000 U.S.

Influencer 251

Influencer Pricing 2024 Social Media 251

Modern Restaurant Management

JULY 31, 2024

." When it comes to pricing, the team at Margin Edge reports that operators and consumers should prepare to spend a bit more on items made with pumpkin puree. in June 2024. in June 2024. Regionally: The Midwest saw a 29 percent increase in the price of canned pumpkin from $8.09 A can of pumpkin puree rose 7.4

Seasonal Menu 474

Seasonal Menu Point of Sale 2024 Email Marketing 474