This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
At the same time, a rise in fast-foodprices driven by inflation is reshaping consumer behavior, with many customers now treating fast food as a splurge rather than a convenience. The future of dining will center on creating smarter, simpler, and more personal experiences for customers.
Fast food and food delivery gradually began changing that equation. 2024 was a year of experimentation with AI, with restaurants testing it on customer-facing interactions, like AI drive-thru ordering, with varying degrees of success. The restaurant experience was once solely comprised of human-to-human, in-person experiences.
. “Every guest touchpoint–whether it’s a dine-in experience, an online order, or even a response to a review – can influence future business,” Mike Eng, Senior Director of Vertical Expansion at Klaviyo, told Modern Restaurant Management (MRM) magazine.
Menu pricing isnt just about covering costsits about finding that sweet spot where profitability, customer perception, and operational reality meet. Set prices too low, and youre leaving money on the table. Somewhere in between is the number that makes sense for your food costs, your market, and your restaurants unique position.
A third of diners said their favorite restaurant changed in the past 12 months, with “better food” (46 percent) and “better value” (40 percent) cited as the leading reasons, according to Tillster’s 2025 Phygital Index Report. The survey of 1,500 U.S.-based For the third year in a row, consumers want more kiosks.
Steady Online Ordering Brings Food Waste, Donations to the Forefront of Priorities Orderingfood online increases restaurant sales, but it also can potentially increase wasted food if proactive measures aren’t taken – for both the business and consumers at home.
“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.” What can you expect to see on menus in 2025?
Dynamic pricing would add friction to the guest experience, according to Capterra’s 2023 Dynamic Pricing in Restaurants. Sixty-five percent of consumers say dynamic pricing would make the decision of where and when to eat more difficult; 63 percent say it would make it harder to budget their restaurant spending.
. “This enduring customer loyalty drives the restaurant industry forward, creating clear opportunities for restaurants to enhance the dining experience through strategic limited time offers, efficient delivery and exceptional in-person service," said Samir Zabaneh, CEO of TouchBistro.
Many restaurant operators have misconceptions about average order volume (AOV) and how it works, making statements like: I need more customers to make more money. For example, lets say you have 50 orders in a day that total $2,000 in revenueall you need to do is divide the total revenue by how many orders you have for the day.
RMS just released our latest findings around consumer sentiment for Q1 , which revealed, among other things, that price is starting to matter—and not by an insignificant amount. When asked why they were getting less value from a restaurant visit, 82 percent reported higher prices. But the industry has a new problem: inflation.
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.
This transformation is not just about automation; it's about creating smarter, more efficient, and more personalized dining experiences. These systems can understand various accents and dialects, process orders accurately, and even upsell menu items based on customer preferences. One of the most impactful areas is inventory management.
Due to many factors including inflation and supply chain challenges, restaurant owners and operators have been faced with tough choice about raising menu prices. As foodprices rise, restaurants should try to stay within their target ratio for food cost to gross food revenue in order to maintain target profits.
"While technology has the potential to enhance the dining experience, the research shows that AI integration isn’t a top priority for most consumers,” said Carly Fink, President, Head of Research & Strategy for Provoke Insights.“Patrons This was only topped by grocery store increases at 79 percent.
It’s an unsavory fact: food is getting more expensive. 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 If current projections from the U.S. Rewards for Loyalty.
Understanding your target market is the foundation of making smart decisions for your menu, pricing, and overall guest experience. Key customer factors that influence dining preferences, from demographics to behavior. Every successful restaurant has one thing in common: they know exactly who they are serving.
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. Loyalty Reigns Supreme Although consumers may be more selective on where and when they dine out, they still want to frequent their favorite restaurants and access any deals possible.
Rising labor and food costs, along with the ongoing struggle to recruit and retain employees, remain among the top concerns for both fullservice and limited-service operators. "The Consumers and operators crave more in-person dining : 81 percent of consumers say they’d eat at tableservice restaurants more often if finances allowed.
The role these marketplaces have played during the pandemic, delivering restaurant orders right to people’s front doors, has become invaluable to many consumers. Pre-COVID-19, paying expensive delivery fees was not an issue as food delivery was not a large part of a restaurant’s revenue stream. Giving Up Customer Data.
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.
The tool from the East Coast vegan chain — a digital take on a split-flap mechanical display that appears on its website and in the chain’s ordering app — estimates the amounts of water, land, CO2, and oil saved by eating vegan burgers. The “ PLNT Impact Tracker ” on PLNT Burger’s website wants you to think about what you’re eating.
Independent restaurants have always been cornerstones of community, providing anything from comfort foods to places to unwind, but despite their vital role in society, adapting to the challenges continues to be a struggle. Scalable solutions like self-service kiosks and predictive analytics are transforming the way small businesses operate.
Restaurants get hit from all angles so when there is a chance to push the envelope on pricing – many do. Of course, there is a handful of masterful chefs and restaurateurs who can charge crazy prices to sold out audiences. These are the restaurants where dining is much, much more than just consuming food.
"Value is a broader tent than price, but price is an important value platform when consumers are faced with high inflation or a personal economic situation such as a job loss," Tim Fires, president of global foodservice at Circana, told Modern Restaurant Management (MRM) magazine. "We
When people think of the way AI is currently used in quick service restaurants – such as fast-food chains – they might think of AI-powered voice bots utilized at drive-thrus or AI tools to forecast inventory needs based on demand. Restaurant owners agree, as nearly half of hospitality operators in the U.S.
population that dined out at least once in the past month, hoping to better understand how Americans are approaching dining out in this new era. Theres also a visual element here, with diners eating with their eyes first and being reeled into new restaurants by food imagery and what I ordered videos.
Train food, Ive come to learn, is its own distinct and expansive category. I often bring my own food on long train rides: okra stew and crab rice, or perhaps my dads spaghetti and meatballs, as well as fruits and cakes, all packed in my trusted backpack cooler, along with an electric travel Crock-Pot that has saved me on many Amtrak trips.
Rethinking Beverages The typical drink upsell—soft drinks and coffee or tea—has decreased over the past few years as customers increasingly eat restaurant food at home. In its place, we’ve seen an explosion of specialty beverages that serve as enticing add–ons or stand-alone orders.
Managing delivery orders shouldnt feel like running an obstacle course, but for many restaurant operators, thats exactly what it is. Juggling multiple food delivery apps means switching between tablets, manually entering orders into the POS, and trying to keep track of ever-changing fees and commissions.
The COVID-19 pandemic has brought endless changes to the restaurant industry, but perhaps the most significant has been the rise of the contactless dining experience. With customers opting for alternatives to dine-in, restaurants adapted to build solutions to offer takeout, delivery and curbside pickup options.
"These tariffs could deeply affect the food service and hospitality industries on both sides of the border," Alex Thalassinos, President of Silverware POS, one of the first tech providers dedicated to Canada’s hospitality industry, told Modern Restaurant Management (MRM) magazine. by about one percent.
But as we enter 2020, it’s important to recognize how digital technology drives our society and its major impact on consumer reactions and ordering habits. If the food looks good, they are more likely to drop some hard-earned cash on it. Technology has substantially revolutionized the signage industry. Reduce Turnaround Time.
The food and beverage industry is on a hiring frenzy. With pandemic-related restrictions being eased and dine-in being allowed again, restaurant owners are in need of a lot of staff. A recent study by The Bureau of Labor Statistics revealed that, despite regular hiring since this spring, the food and beverage industry still remains 1.5
Financial restaurant KPIs give you visibility into your costs, pricing, and ultimately, your profitability. Cost of Goods Sold (COGS) Cost of Goods Sold tells you how much it actually costs to make the food and beverage sales you sell. A typical COGS for a restaurant is around 30%-40% , depending on your concept and pricing.
Foodprices are soaring amidst supply chain disruptions, increasing labor costs, and processing plant shutdowns. Poultry prices are up 15 percent to 18 percent ; the cost of eggs has risen 73 percent. consumers say they’re happy paying higher prices for great service. First-Rate Service. Seven out of 10 U.S.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features news of dramatic Valentine's Day shift, best food scenes, and the evolution of c-store foodservice. As they grapple with rising costs across their supply chain, 71 percent of restaurants plan to increase prices this year.
This Valentine's Day edition of Modern Restaurant Management (MRM) magazine's Research Roundup features dining and gifting trends including the importance of experience. Restaurants saw 41 percent more transactions The busiest dining hour? Analyzing data from full-service restaurants on Feb. percent in 2024.
Every online order, email sign up, and reward program interaction generates valuable insightsbut if that data just sits there, youre missing a major opportunity. Think about it: What if you could automatically send a special offer to a customer who hasnt ordered in a while? Or adjust your staffing schedule based on peak ordering times?
As a new normal emerges, it will be more important than ever to elevate the dining experience with experiences that are personal and delightful. Business begins at the endpoint, especially in food service and hospitality. As well, pick-up lockers located away from in-room dining could allow guests to pick up food without human contact.
Since the pandemic, restaurants have endured a plethora of issues ranging from fluctuating dining restrictions to supply chain issues to rising foodprices. Demand for Dining Out Isn’t Going Anywhere. Taking Orders with Artificial Intelligence.
Are you doing all the right thingsserving amazing food, delivering top-notch service, crafting perfectly balanced drinksbut the tables still arent filling up like they should? Youre delivering a great dining experience, yet foot traffic remains inconsistent, online engagement is low, and new customers arent coming in as often as youd like.
There will *always *be something your staff can do to enhance a patron’s dining experience. Customers on average will order more menu items, resulting in a larger bill for the restaurant and a larger tip for the employee. However, productivity is more easily trained than managed.
Adapt to Growing Price Fatigue Since the pandemic, controlling food costs has been a major challenge for restaurant operators. When prices for staple ingredients like chicken rose dramatically in 2023, restaurant operators were forced to increase their prices. Full-service menu prices climbed 4.5 Coffee in 2023.
We organize all of the trending information in your field so you don't have to. Join 49,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content