Restaurants Experiment with Dynamic Pricing Amid Rising Costs As the restaurant industry grapples with inflation and rising operational costs, dynamic pricing is becoming an increasingly popular strategy. While Wendy's has publicly stated it will not adopt surge pricing, other chains like Dave & Busters are actively exploring the model to adjust prices based on demand. The move, aimed at balancing potential financial gains with the risk of alienating cost-sensitive consumers, has seen success in establishments like Bartaco, reporting a sales increase without customer pushback. However, with California's fast-food worker wages on the rise, many restaurants are contemplating menu price adjustments. Cava, a Mediterranean-style chain, stands out by choosing to maintain current prices, prioritizing consumer affordability amidst escalating fast-food costs. #DynamicPricing #RestaurantIndustry #ConsumerAffordability #InflationResponse
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In the U.S., Food Away From Home spend is concentrated heavily in restaurants — two-thirds of it, compared to one-third for vending, food sold at schools and colleges, food sold at hotels, and a few other smaller categories. For every dollar spent on food outside the home, 35 cents go to Limited-Service Restaurants, and 34 cents go to Full-Service Restaurants. And despite casual dining chains losing consumers for decades, independents and those chains able to innovate the experience have been rewarded. Honoring the magic, the spark, that dash of something different rather than clinging to the status quo in an effort to stay afloat is creating huge differences between winners and losers. #restaurants #strategy #casualdining
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More restaurants and venues are finding food price inflation and energy prices are forcing them to raise prices and reduce margins. We help restaurant operators reduce spend in indirect categories, easing the pressure across their business and allowing them to counter some of these upward pressures. Find out more at ebitip.com
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Restaurants are making you pay more than you actually ordered By asking you to pay service charges even though you don't want to. The government asked restaurants to stop adding service charges to the bill by default, as it is optional and depends on the customer to decide. Well, to counter this, restaurants have rolled out a tactic wherein they print on the menu that they levy service charges of 10%, and most of us miss reading it. Now, when the bill comes, boom, a 10% service charge is already added, and you are now compelled to pay even if you don't want to. This is something I, as a customer, didn't like. Did you face something similar? #restaurant #servicecharges #tactics #customer
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The restaurant industry is forecasted to surpass $1 Trillion in sales for the first time ever this year. If you’re like me and wondering how that’s possible considering the number of restaurants out there dropped from 703,000 in 2019 to just over 631,500 restaurants in 2023…the answer is inflation. According to the National Restaurant Association’s study, these sales were largely driven by increased pricing. Average menu prices peaked at an 8.8% year-over-year increase in March 2023, cooling only slightly in the start or 2024. While major news publications are referring to this statistic as a sign of the industry’s recovery since the pandemic, it’s actually a sign of the deep trouble in the future. What goes up, must come down, and consumers are already getting fed up with current food pricing. https://lnkd.in/eB29szNA #restaurantnews #restuaranttrends #tagex #liquidations #foodindustrynews #foodserviceindustry #foodindustrynews #kitchenquipment #restaurantequipment #commercialkitchenequipment #restaurantauctions #furnitureauctions #furnitureliquidations #equipmentliquidations #equipmentauctions #businessliquiditions #restaurantclosures #cfo #coo #foodindustry #foodindustryequipment #liquidaterestaurant #openrestaurant #expandrestaurant #foodoperations #restaurantclosure #restaurantremodel #restaurantliquidation
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Owner & CEO @ 𝐂𝐀𝐓𝐳 𝐒𝐨𝐟𝐭 𝐋𝐭𝐝 | Revolutionizing Restaurants: Enhancing Dining Experiences through Innovative Solutions! | Elevating Dining with Digital Tools 🍽️📲
Cutting Restaurant Food Costs When it comes to food supplies, restaurant chains often have the upper hand, bagging bulk discounts due to their high demand. For independent restaurants, though, it's a different story – securing those same savings can seem out of reach. But here's the good news: there's a way to level the playing field! Enter: Restaurant Buying Groups. This involves banding restaurants together to pool their orders and negotiate discounts like the big guys. According to Eatery Buying Group, by joining forces, your restaurant can save up to a whopping 30% on food supplies. Bulk discounts for all, regardless of size? Now that's what we call a win-win. Are you part of a restaurant buying group? How is it working for you? 🍽️💰💡 #RestaurantTips #BuySmart #IndieRestaurants
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Want to sell more effectively to independent restaurants across the U.S. and Canada? Take a look at this breakdown of independents across the two countries, with side-by-side comparisons and metrics including revenue, longevity and segment type. Download now: https://hubs.la/Q020zbl90 #restaurants #foodandbeverage #foodindustry #foodservice
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📣 In 2024 Meaningful Vision Ltd is expanding its research and data analysing capacity across Ireland. ✔ 📊 Starting with collecting data related to the 50 largest fast-food chains in Ireland reporting restaurant density per 100,000 people. It is one of the most important indicators that enables operators to assess opportunities for new restaurant openings. 🍔 🍟 🍕 Our report includes categories of restaurants such as burger quick-service restaurants, chicken shops, bakeries and sandwich shops, coffee shops, Asian food, and pizza deliveries. 📌 As of March 2024, on average, in the Republic of Ireland there are 25.5 chains fast-food outlets per 100,000 people, which is less than in the UK with its 28.8 fast food establishments and more than in Northern Ireland, taking the 3rd place with 20.7 outfits. Maria Vanifatova, CEO of Meaningful Vision, expresses enthusiasm about the new service in Ireland, stating, "Many UK chains view Ireland as a potential new market. We aim to provide valuable insights into existing competition and their performance by location." More on #fastfood #marketanalysis is on our website https://bit.ly/4alGWDN #MeaningulVision #restaurantindustry #irelandbusiness
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Account Executive @ Intouch Insight | Enhancing Brand Loyalty through VOTC and Mystery Shopping/Audit Initiatives
In a recent survey of 1570 consumers across US & Canada, we asked about how exterior lighting impacted their decision to eat at restaurants. Take a look!
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Ready to boost your restaurant's success in the New Year? Let's focus on bringing in fresh business with ChowEasy! 🌟 📈 ChowEasy is the smart solution to elevate profits, especially during quieter times like weeknights, without compromising your restaurant's brand. 🌐 Discover ChowEasy: the innovative online ecosystem for restaurants and diners, pioneering bid-driven commerce! Diners input their bids for specific cuisines, and ChowEasy's dynamic system matches these bids with partner restaurants ready to accept them. 💰 For diners, it means saving money while relishing fantastic meals. For restaurants, it's about attracting and retaining new customers to grow your business profitably. 🔗 Ready to revolutionize your restaurant's success? Explore ChowEasy at choweasy.com and start welcoming a fresh wave of delighted diners! 🍲👨🍳 #NewYearNewBusiness #ChowEasy #RestaurantSuccess #InnovativeDining #BoostYourProfits #SmartRestaurantSolutions #GrowYourBusiness #DinersAndRestaurants #OnlineDiningExperience
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