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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.
These features include tableside mobileordering, NFC contactless payments, and direct online ordering. They also have the choice of using the MarketConnect app to order and pick up from a designated shelf onsite, avoiding interactions and maintaining necessary social distancing.
Since most consumers are attached to their smartphones, the best way to stay connected with their favorite restaurants is through mobile apps. However, just because most restaurant chains have hopped on the trend doesn’t mean they’ve mastered all the features diners want and need in a mobile app. The top reasons?
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.
While consumers might seek culinary experiences they can’t have at home, they have vastly different expectations for how they engage – whether via phone, app ordering, third-party take-out, or dining in, they want the same seamless interactions they’ve come to expect in all areas of their lives. ” It gets better.
The primary response was menu price increases, with nearly 61 percent of respondents adjusting prices to cope with the new reality. However, the industry has renewed optimism, driven by the adoption of digital and mobileordering, menu creativity and heightened expectations around AI. Franchise 2.0:
The industry is evolving fast, and simply relying on word-of-mouth or foot traffic isnt going to cut it. The right marketing strategy helps you get the most out of every dollar by increasing customer retention , boosting order volume, and encouraging repeat visits. What price points are they comfortable with?
Marketing trends, mobile data insights show that Gen Z has a considerable appetite for restaurants, clean eating, fast-casual, and exciting twists on healthy dining options. Wendy’s and Burger King are two masters in the genre, sparking lots of interest and engagement that’s helping to drive fast-food growth.
We’re seeing massive disruption to front-of-house systems, too, delivering personalized guest experiences from order to payment to final delivery. You can see which other restaurants they frequent, too, and the types of items they order from those places.
Many dining establishments found ways to use AI to track and flag stock quantities, automate schedule-making for staff, implement customer service chatbots and process online orders. The increasing threat of fraud, especially through spoofing, is also anticipated to drive the widespread adoption of secure mobile payment methods in the future.
In the next year, this role will also include helping them with order management during peak times. In the next year, this role will also include helping them with order management during peak times. Using LPR, restaurant staff can link an order to a customer's car and use it as an identification to deliver their order once ready.
Restaurants will continue to embrace digital on-premise, including mobileordering and payment at the table, to streamline operations and improve the guest experience. Restaurants will continue to embrace digital on-premise, including mobileordering and payment at the table, to streamline operations and improve the guest experience.
This will enable brands to better manage off-premises orders and balance their hybrid operating models. The concept of self-service will continue to evolve as consumers become accustomed to placing orders with devices. Operations will continue to be simplified despite digital experiences expansion.
Pace of recovery for fastcasual brands has slowed down considerably, although results continue to be much better than for full-service restaurants. Grubhub launched its latest report, "State of the Plate", looking at trends across the more than half a million orders placed a day. Forecasts: Summer (in ranking order).
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. For example, there will be fewer human interactions when ordering takeaways during busy lunch hours, quick customer seating, or bill payments.
Casual Dining velocity has grown by 158 percent over the same period, suggesting many of the Casual Dining business models were able to maintain sales to some degree through pandemic restrictions. In fact, 30 percent of recent casual dining visitors think there is an opportunity to improve the quality of the beverage offer.
Online Ordering and Mobile Apps. Unlike before, when you had to memorize the delivery numbers of your favorite fast-food chains, you can now order in with just a click. Thanks to the arrival of food delivery applications, the casual diner can now satisfy his or her cravings whenever he or she pleases.
Other businesses have seen a surge of consumer interest, including chicken-wing joints (+84 percent), pizzerias (+71 percent) and fast-food restaurants (+55 percent). In Taiwan and South Korea, where restaurant dining rooms remained open during the pandemic, frequent users actually reported ordering more takeout and delivery.
The research found that businesses worldwide – particularly restaurants – intend to experiment more in 2025, especially with customer retention programs like loyalty, as they face the triple challenge of sustained high inflation, shrinking consumer wallets and the need to raise prices across the board. percent in December and 11.3
Given the increase in off-premise, we expect to see more drive-thru’s similar in format to Checkers & Rally’s iconic double drive-thru model, which dedicates one lane to traditional consumer drive-thru service and one to e-commerce only, including pre-paid digital orders for pickup and third party-delivery orders.
This edition of MRM Research Roundup features restaurant industry year-end totals, how restaurant labor is evolving, fast-food brand intimacy and top cities for locavores. The chains’ carry-out, drive-thru, and delivery orders soared throughout the pandemic as consumers looked for relief from preparing most of their meals at home.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features news on summer restaurant employment, indecisiveness ordering, online ordering trends, and the world's best cities for food. percent of diners noting that recent price increases have altered their spending habits, and 58.5
Compare different policies and choose one that offers good coverage at a reasonable price. Customers sit down, order from a menu, and are served by waitstaff. This type of restaurant can charge higher prices for their meals because of the full dining experience and quality service. Utilities are another fixed cost to monitor.
By Kateryna Reshetilo, Contributor Are you a restaurant owner looking for ways to keep up with the fast-changing demands of your customers? As customers increasingly turn to online ordering for convenience and safety, restaurants must adapt to stay competitive. Real-time order tracking. Order assignment and status updates.
In this edition of MRM News Bites, we feature robots in fast food, virtual education and chef-inspired, plant-based ice cream. Leverage two-way SMS to notify diners of order status updates from ConnectSmart Kitchen, including when the order is complete – allowing for no-contact pickup. ” Valrhona Secures B-Corp.
Highest Average Ticket Price : Michelle Constantino, Naperville, IL. Adding to the 20 Noodles & Company locations in the metro Chicago market, the ghost kitchen will help reach a new customer base through its digital channels and give the fast-casual brand a presence in-between local locations. "We're
On the ordering side, the brand improved its signage for to-go orders and is also planning to leverage technology with the rollout of a new online ordering system. From our very beginnings, we designed a simple, elevated menu that would put a new spin on fastcasual,” said 26-year old Nick Kline, co-founder, Nick Filet.
With thousands of restaurants forced to close their dining rooms, and millions of Americans facing sudden unemployment, GroupRaise saw an opportunity to mobilize its 10,000+ restaurant partners along with their communities to offer those who are able a chance to support both local business and food distribution to at-risk families.
The main takeaway: It’s led to higher prices and lower foot traffic at many of the state’s dining establishments. “As a result of the minimum wage increase, most chains have raised prices in the region anywhere from the mid-single digits to the midteens,” writes Hottovy. percent, as noted), Burger King (-3.86
Ideal menu price. Your CoGSs is an essential number to have when determining your menu prices, inventory and impacts your net profit margin. Fast-casual: 28.9%. Casual: 33.2%. Upscale casual: 30.4%. It also plays a key factor in pricing your menu. Employee turnover rate. Table turnover rate.
QDOBA Mexican Eats® introduced new restaurant formats, top photo, that feature buildouts including mobile-order drive-thrus, walk-up windows, mobile-order pick-up lockers, dedicated curbside pick-up areas, ghost kitchens, and concepts with updated outdoor seating. QDOBA's New Concept. Holsom by Yogurtland.
Kiosk ordering Your busy customers don’t always have time to wait in line. Kiosk ordering tools speed up the ordering process, making it easier to keep up during a mealtime rush. Many customers also appreciate the quick and user-friendly process of ordering on a kiosk. Food cost tracking tools include Meez and MarginEdge.
His previous experience also includes acting as CFO and controller for numerous hospitality and fastcasual brands such as Rubio’s, Carl’s Jr., Fastcasual restaurants continue to outpace industry growth and we see a great deal of opportunity for business owners in this urban market.” and Del Taco.
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features the great gift of a restaurant gift card, learning about event professionals, top QSR traffic and digital ordering strategies. Expect for casual dining, upscale casual and fine dining to have abysmal sales and traffic growth numbers.
Their enthusiasm for our brand coupled with their deep experience developing successful polished casual and fast-casual restaurant brands in Alberta make them the perfect partners to bring CPK into Canada for the first time. Blaze Fast-Fire’d Pizza is heating up the Midwest with a 16-unit development deal.
A growing number of fast food chains are experimenting with seatless locations with only takeout or drive-thru options. Getty Images/iStockphoto As diners increasingly turn to delivery, the future of fast food may be one with no human interaction at all. People just aren’t hanging out at fast food joints the way they used to.
Additionally, it means enacting ways to incentivize guests to order from a brand’s direct ordering channels, with offers like exclusive items and pricing, to drive in-house digital sales and therefore retain owned guest data. – Noah Glass, Founder & CEO, Olo Looking ahead to 2024, we anticipate more change.
In this edition of MRM Research Roundup, we feature news about an influx of catering orders, the topic of tipping, the rise of kiosks and affordable Michelin restaurants. Of that increase, 30 percent came through Catering Online Ordering, which launched in Q3 2023. On average, catering orders ticket sizes in Q4 2023 were $160.
The new restaurants — as well as upgrades to existing locations — will adapt the company’s new, modern, and inviting “Fresh Forward” design and meet the needs of today’s consumer with comfortable guest indoor dining spaces as well as numerous delivery and order ahead options, with a strong digital first strategy.
parent company of fast-casual restaurant chain The Habit Burger Grill, for approximately $375 million in a cash transaction. “As a fast-casual concept with strong unit economics, The Habit Burger Grill is a fantastic addition to the Yum! Beefing Up with Habit Acquisition. Brands, Inc. and internationally.
The importance of the price of offering lowered from 78 percent to 50 percent. Prioritizing price amidst COVID-19 fell by almost half among those ages 60+, from 78 percent considering it a top-three factor prior to the outbreak to 41 percent now. consumers—falling 2.5 percent to an ACSI score of 79. In 2019, 15.7 QSR Pivot.
She has also held leadership roles at Sony Ericsson Mobile Communications, PepsiCo, and Frito-Lay. The drive-thru feature is a first for the fastcasual brand, which has previously focused on eat-in cafés and kiosks. “Fazoli’s is at the forefront of the fast-casual Italian category,” Milliken said.
US Foods will finance the acquisition primarily with $700 million in fully committed financing from Citigroup and Bank of America and will fund the balance of the purchase price through its existing liquidity resources. At the closing of the acquisition, US Foods’ pro forma net leverage is expected to be approximately 4.0x
On special appeal, the Board vacated the judge’s order, and remanded the case to the judge with instructions to approve the settlement agreements. HOP® Restaurants announced plans to launch Flip’d by IHOP™, a new fast-casual concept in the U.S., The entire decision can be found here. Flip’d by IHOP.
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