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Consider whether your business benefits from steady local traffic, relies on seasonal tourism, or serves commuters passing through. Lifestyle Choices: Do they prefer fast, casual meals or long, social dining experiences? Geographics: Where Are Your Customers? Your location plays a huge role in shaping your customer base.
As the pandemic raged, hordes of hospitality workers shifted to in-office or at-home jobs, leaving a large labor gap to be filled, especially as tourism returns to pre-pandemic levels. The family dining chain is negotiating insurance programs for franchised restaurant groups to leverage a buying force in the marketplace.
Other businesses have seen a surge of consumer interest, including chicken-wing joints (+84 percent), pizzerias (+71 percent) and fast-food restaurants (+55 percent). dine out more often to fulfill basic needs and gravitate toward drive-thru and take-away options associated with QSR and fastcasual. In the U.K.
To prepare for a stronger economy, Expert Market suggests implementing targeted solutions like streamlined financial management software for owners and utilizing loyaltyprograms and adaptive measures to retain customers. ” That report finds that, through the first half of 2024, fast-casual restaurants saw visit growth of 3.2
“They’ve had to basically adapt and change their entire business model,” says Yang Yang, an associate professor in the School of Sport, Tourism and Hospitality Management (STHM) at Temple University. Asia Center for Tourism and Hospitality Research, the road to recovery could still be a long one. Shopping malls.
In addition to the emergence of indoor dining, it explores rising competition between fast food and fastcasual restaurant brands with COVID restrictions loosening. “The data strongly signals long wait times are a vulnerability for fast food restaurants as they compete for customers. . Fast food reigns supreme.
Fast-food restaurants also took a hit, down 1.5 According to a report from Sift: 62 percent are concerned that their interactions with QSRs will lead to some type of fraud, whether it’s stolen payment information, account takeover, hijacked loyalty rewards points, or fake reviews. points), food trucks (up 3.5
With technology at the forefront of restaurant operations, we think there will be an increase in branded mobile apps along with a rise in loyaltyprograms. According to research from Technomic , 40 percent of Americans took advantage of takeout and curbside delivery (at both fastcasual and dine-in) during the pandemic.
SOBEWFF®, which benefits the Chaplin School of Hospitality & Tourism Management at Florida International University (FIU), has raised more than $30 million for the School to date. “I want to show people that hibachi and ramen can be just as thoughtful and delicious in a casual setting,” said Liang. in Plano, Texas.
On a metro level, Las Vegas is suffering from the highest rate of permanently closed businesses with 861 businesses permanently closed, as the city reacts to a decrease in tourism. The new franchise program is now available nationwide. Restaurants can serve guests fast and with minimum human contact.
Nearly half (47 percent) of diners say they engage with loyaltyprograms at least once a week, up significantly from just 34 percent in 2023. To improve retention, operators are focused on technology that delivers structured onboarding programs, leadership development, and real-time feedback tools.
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