Remove Fast Casual Remove Loyalty Program Remove Pricing
article thumbnail

Keeping Up with Diners’ Expectations Amid Rising Prices

Modern Restaurant Management

But two non-negotiables have remained strong for diners: convenience and loyalty. 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. They also want convenience and frictionless digital experiences.

Pricing 493
article thumbnail

JBF Study: Independent Restaurants Are Actively Evolving

Modern Restaurant Management

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.

2024 251
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to Find the Target Market for Your Restaurant

ChowNow

Understanding your target market is the foundation of making smart decisions for your menu, pricing, and overall guest experience. Meanwhile, a fine-dining steakhouse targeting business professionals will prioritize a refined menu, premium pricing, and marketing efforts that focus on corporate events and high-end experiences.

Marketing 195
article thumbnail

‘Being Adaptable and Responsive to Changes in the Industry Landscape Is Key’

Modern Restaurant Management

Joe Gale has more than 30 years of sales, operations and account management experience, including 20 years with Coca-Cola North America Foodservice where he worked closely with numerous QSR and fast casual brands. Financial stability : Franchisees need a solid financial foundation to cover start-up costs and initial marketing efforts.

article thumbnail

How to Calculate and Optimize Your Restaurant’s Customer Acquisition Cost (CAC)

7 Shifts

Many restaurants use POS systems that can differentiate between new and existing customers based on payment methods or loyalty program sign-ups. For example, restaurants that encourage user-generated content (like customers posting their meals) leverage social proof while building brand loyalty without any direct ad spend.

article thumbnail

2024 Outlook: Restaurant Trends and Challenges, Part Three

Modern Restaurant Management

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. To capture their attention and loyalty, businesses, including restaurants, must prioritise easy access and convenience. Nothing is fraud proof.

2024 539
article thumbnail

Operational Excellence and the Value War   

Modern Restaurant Management

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. percent rise in prices means that sales growth may barely keep up with inflation. percent sales increase by 1.5