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Customer Experience in the Restaurant Industry: Reflections and Predictions through an AI Lens

Modern Restaurant Management

AI Will Improve Customer Loyalty I don’t know believe there is any other industry in which customer loyalty is more important than it is in the restaurant industry – especially now. Restaurants succeed or fail based on loyalty, which is a direct result of customer experience.

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Menu Prices Are Rising, But Loyalty Programs Can Help Restaurants Stay Ahead

Modern Restaurant Management

In October, the USDA reported year-to-date averages, noting that food-at-home (grocery store) prices have increased 2.5 percent and food-away-from-home (restaurant) prices have increased 3.6 percent, and food-away-from-home prices are expected to increase between 3 and 4 percent. Rewards for Loyalty.

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Building the Value Equation as We Approach the Price Ceiling 

Modern Restaurant Management

Striking a balance between value and price. Is it possible to strike a balance between value and price to satisfy both parties? To answer that question, Revenue Management Solutions (RMS) examined two factors: the impact of price increases on QSR sales performance and consumers’ perception of value. Is it possible?

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Elevate Your Restaurant Brand: Convert Value into Loyalty

Modern Restaurant Management

Value pricing will eventually become a less effective tactic for restaurant brands with the market becoming oversaturated with discounted options. To do so, they must evaluate how value can be derived outside of price point. Operators must consider how they can strategically ease customers back into full price menus.

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Loyalty Innovation Has Evolved to Focus More on the Customer

Modern Restaurant Management

Personalization is key to successful loyalty programs, according to the 2024 Paytronix Loyalty Trends Report. "Top "Loyalty innovation is not always true innovation," Lynch added. "It’s "Restaurants have a loyalty program but haven’t put in place many best practices (i.e.

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Restaurants with Strong Brand Identities Captivate Gen Z

Modern Restaurant Management

Dynamic pricing on these platforms might be necessary to combat some of the lost revenue due to fees. Another is to add convenience like saved orders, saved payment methods or Apple Pay, loyalty programs, and personalized offers or perks. Loyalty rewards don’t have to include discounts and coupons anymore.

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Fighting Fast Food Fraud

Modern Restaurant Management

Fast food restaurants are all about convenience with the latest step in providing convenience for guests being the welcoming of digital payments and corresponding loyalty apps. First, reward programs turn physical goods into digital goods that are easy to move around, have no upper-value limit, and barely need monetization.

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