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-food prices 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.
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. Most operators aim for food costs to be around 28-35% of the menu price, though this can change from restaurant to restaurant.
“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.
In 2024, restaurant traffic slowed while price sensitivity grew. Revenue Management Solutions’ (RMS) Q3 survey revealed that 36 percent of respondents said they plan to dine out less, and a higher percentage reported a decline in dining out across all restaurant segments. Some customer segments will continue to dine out.
"The pandemic forced the restaurant industry to reinvent itself overnight, moving from a primarily in-store dining experience to an omnichannel, digital-first business. Special events have become a big reason for going out, making unique dining experiences more important than ever. This trend has held on in the last five years.
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.
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.
In 2024, food prices have been high and consumer spending has been stretched thin, making it even more difficult for restaurants to attract new customers. The restaurant experience was once solely comprised of human-to-human, in-person experiences. Fast food and food delivery gradually began changing that equation.
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.
Has consumer dining behavior returned to pre-pandemic levels? Dine-in is down an average of almost 50 percent compared to 2019. The data also supports what RMS has been advising: pricing must be strategic. Avoid across-the-board price increases. Stay informed about where your menu prices fit with the competition.
One of the more popular solutions to helping a business thrive is dual pricing credit card processing. One of the more popular solutions to helping a business thrive is dual pricing credit card processing. What is Dual Pricing? When a restaurant offers dual pricing, it maintains 100 percentof the cash price for every item sold.
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 food prices rise, restaurants should try to stay within their target ratio for food cost to gross food revenue in order to maintain target profits.
Aside from improving restaurant customer experience , market research also helps you make informed decisions about location, pricing, and marketing strategies. You can identify potential gaps in the local dining landscape and create unique value propositions. A data-driven approach gives you concrete insights to make strategic choices.
In an earlier survey on app usage ( Q1 2023: Restaurant Apps, Loyalty Programs and Dining Choices ), RMS found that a majority of respondents had at least two restaurant apps, and nearly 40 percent of frequent users had more restaurant apps than the year before. Restaurant apps need to run seamlessly, but so do in-store operations.
Some brands may consider that they can offer an experiential focused bar menu for a more approachable price point for the consumer who may not opt for a full dining experience. This insight celebrates creativity and boldness, turning dining spaces into visual playgrounds that connect with their diner.
What can you expect to see on menus in 2025? Read on for predictions from industry insiders that include chili crunch, black limes, newstaglia, stealth health, and elevated snacking. ” Guests will have the opportunity to experience many of these trends come to life at Kimpton restaurants and bars across the globe.
In the modern dining landscape, where convenience and customer experience are paramount, restaurants increasingly rely on electronic payment systems to facilitate transactions. For restaurants, especially those operating on thin margins, these fees can influence pricing strategies, profitability, and even operational decisions.
Are people dining out more or less? The findings tell a story of shifting behaviors, digital transformation, and a new definition of value in dining. The findings tell a story of shifting behaviors, digital transformation, and a new definition of value in dining. What’s driving their choices? The reason?
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. If current projections from the U.S.
Restaurant owners looking to purchase an existing license can face prices up to $1 million depending on demand. This trend highlights a shift in consumer behavior, with dining places increasingly seeking unique experiences rather than just a meal. Opening a restaurant in competitive markets like South Florida is no easy task.
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.
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 2025. At the same time, it can result in consumers creating more waste if they order more than they can eat.
Heres how it works: Instead of pricing items individually, menus show a combined price that offers a slight discount compared to ordering each item separately. Prix Fixe Menu: A multi-course meal at a set price encourages guests to order more while offering an elevated dining experience. Why do bundles work?
" Among the key findings: Consumers crave interactive dining : 70 percent are interested in tasting events, 52 percent in private dinners with a chef, and 50 percent in cooking classes at restaurants. 90 percent of fine dining operators say in-person dining is key to their 2025 success.
Value-driven dining and a growing interest in regional brands are two trends uncovered in Yelp's 2025 Fastest Growing Brand s report. The biggest surprise was how much value-driven dining is at the forefront of consumer behavior. Why is breakfast booming, and will you anticipate that being affected by egg prices?
Five years after the onset of the COVID-19 pandemic, our relationship to food and dining has undergone some permanent changes I got COVID for the first time this past February. Many cities have all but nixed their outdoor dining programs, and there hasnt been a push to make the air indoors any safer.
Every cook, at least every serious cook, seems to want to work in one of those exceptional fine dining or cutting-edge experimental operations that are depicted in shows like Chefs Table or The Bear. If you are serious about a kitchen career and have the focus to map out the best path, then listen up.
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.
Of course, running a restaurant is difficult, wholesale prices of ingredients have risen dramatically since the pandemic, labor costs are out of control, and landlords have no mercy when it comes to establishing lease arrangements. That’s 21 meals for two people over seven days. Do the math. So, what does the independent restaurateur do?
This transformation is not just about automation; it's about creating smarter, more efficient, and more personalized dining experiences. The Future of DiningAs AI in restaurants continues to evolve, we can expect more sophisticated predictive analytics, AI-driven pricing strategies, and advanced robotics in food preparation.
"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
With social media shaping trends, culture and commerce around the clock, younger generations are increasingly using these platforms to discover new dining experiences. 2025 is as nuanced a year as brands have ever seen with consumers behaving and setting expectations in opposing ways. However, as digital habits shift, so does consumer trust.
Restaurants hoping to make a positive impact on the climate face an enduring challenge: selling their ambitious goals to diners simply looking to have a good time This story was produced in partnership with Civil Eats. The “ PLNT Impact Tracker ” on PLNT Burger’s website wants you to think about what you’re eating. without interruptions.
The research stems from in-person chef interviews and a nationwide survey of more than 400 restaurant owners and operators spanning 47 states with respondents ranging from fine dining establishments to fast-casual venues, breweries, and caterers. "This Revenue growth in 2024 was largely driven by menu price adjustments.
Survey results indicate diners are seeking distinctive dining experiences, planning ahead with early reservations, and seeking out earlier evening bookings The holiday season is bringing a wave of excitement among diners, with 68 percent of respondents planning to celebrate at restaurants or bars. early bird timeslot.
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. The Vox Media Insights and Research team surveyed over 2,000 U.S. adults in February 2025 representing the U.S.
Quick-serve restaurants (QSRs) experienced four-percent growth over the past year, which helped to offset the declines seen in full-service dining. Long after the restaurant industry felt the most significant impacts of the pandemic, echoes still reverberate in the form of workforce realities and operational challenges.
In both fine dining establishments and cafes, filtered, sparkling water is increasingly part of the included hospitality experience, not an upsell. In an already pricey dining setting, the chef didn’t want to create an atmosphere of exclusion. And that’s how it should be. And for the restaurants, it comes at a cost.
Putting aside the challenge of bird flu and the work and demands surrounding the care of animals, cost of feed, and process of harvesting and preparing eggs for market even at todays price this works out to around $.50 It seems to me, that the realities of this challenge are not given sufficient airtime. 50 per egg. are immigrants.
Printed menus can quickly become outdated, forcing restaurants to reprint every time a seasonal dish is introduced or prices change. We’ve all heard the statistics surrounding restaurant closures, from the 50 percent failure rate in the first five years to watching restaurant store-fronts change over year to year. One of those tools?
What is most gratifying is witnessing clean plates coming back from the dining room, satisfied smiles on the faces of guests, and the pride that a cook feels when sliding a finished plate down the pass. We put it all on the table when it is felt that the time is right, or situations demand it. Is this overly altruistic?
However, this convenience comes with a price. When restaurant owners get it wrong, it could lead to fines, broken trust among employees—as with the examples above—and even jail time for more egregious violations. Quit rates have also fallen since then. Some systems also handle scheduling.
Menu and Price Points. This includes places that may be a price point above or below yours. Even if your planned menu is similar, maybe you could offer something unique in the dining experience. Closely related to the menu and price point is the quality of food your competitors are serving. Food Quality.
Sixty-nine percent of consumers would dine out more often if it were more enjoyable, and that number goes up to 78 percent for adults under the age of 35, according to a report from ChangeUp. 66 percent of consumers believe a desirable experience is more important than price and convenience.
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