Your Source for Latest Restaurant News, Trends and Insights
Inflation is Changing the Ways Restaurants Operate
As everything gets more expensive, consumers are panicking, and business owners are in a predicament. To cover supply chain costs, restaurant owners need to raise their prices. However, will raising these prices cause them to lose some loyal customers who cannot afford it anymore? With any shift in costs, business owners will see the effect it has on profitability. However, since inflation is impacting all businesses throughout the nation, and some parts of the world at a much faster rate than it was it the past, business owners are rapidly adapting to these drastic economic shifts. Restaurant inflation overview AccordingContinue reading “Inflation is Changing the Ways Restaurants Operate”
The World of Hybrid Restaurants
Over the past few years, restaurants from all over the world have been incorporating different types of technology and new changes. Since COVID-19, restaurants have joined in the trend of contactless payments, contactless ordering systems, ghost kitchens, and now hybrid restaurants. What is a hybrid restaurant? A hybrid restaurant is a mixed-format restaurant and has become increasingly popular over the last few years. Hybrid restaurants provide food sections in which customers can sit down and enjoy a meal or a drink, and then they can make their way to the market section where they can buy “take-home and takeout andContinue reading “The World of Hybrid Restaurants”
Summer Food Trends of 2022
Spring is still blooming, but summer food trends are brewing. Restaurant chefs are ready to reconnect with their kitchen to create new recipes for the steaming hot weather in the next few months. However, due to supply chain issues and food shortages, chefs are doing their best to work with what they have. Thanks to social media, there are new food hacks, and you can always find a trending food item or recipe there. Here’s what we think will be popping up in restaurants this summer of 2022. Plant-based and Meat-free Foods According to a recent Lending Tree survey, itContinue reading “Summer Food Trends of 2022”
Change of Payment Methods in Restaurants
Since the pandemic, restaurants and other businesses have adapted to many changes throughout the years, and this includes payment methods. The most common ways of paying are through cash, credit card, or debit. However, this has changed in recent years. The pandemic caused many restaurant and fast-food owners to think of new ways to incorporate safety measures when coming in close contact with customers. Since then, different ways of paying have changed to contactless payments, paying through crypto, and more. Although, the trend toward cashless payment has been a growing trend due to the number of people who now haveContinue reading “Change of Payment Methods in Restaurants”
Loyalty Programs for Restaurants
Why you should consider adding a loyalty program for your restaurant. Loyalty programs are an essential tool to have in a business. According to Gartner, 80% of future revenues come from 20% of your current customers.1 In addition, it was found that 78% of customers are more likely to continue to spend on a business if they have a customer loyalty program.2 Ease of use: Loyalty programs should not be difficult to navigate for the customer, or for you and your employees. However, most loyalty programs are easy to use, and customers are familiar with the concept already. Loyalty programsContinue reading “Loyalty Programs for Restaurants”
Cryptocurrency in the Restaurant Industry
Cryptocurrencies are digital currencies that use cryptography to secure transactions and prevent counterfeiting and fraud. How does it work? According to Alison Conner of Edible Tampa Bay, “Crypto comes with a built-in ledger system, a database called the blockchain, which stores a record of every currency transaction ever made. Records on the blockchain are accessible to everyone, which allows crypto users to track the movement of any money they spend.”1 Currently, the three most popular cryptocurrencies are Bitcoin, Ethereum, and Dogecoin. However, the most common crypto that is currently being accepted by restaurants is Bitcoin. In addition, around 49% ofContinue reading “Cryptocurrency in the Restaurant Industry”
The Benefits of Food Lockers for Your Restaurant
History of Automats Food lockers, also known as Automats, were created in the late 19th century in Berlin but didn’t grow in its popularity until the 20th century for restaurants and fast food.1 Even so, the popularity since then has died down, but it’s slowly making a comeback. In the early 20th century, Automats were vending-machine style restaurants and a waiter-less service. These machines were coin-operated food lockers that contained beverages and hot food.2 In 1902, “Joseph Horn and Frank Hardart opened their first Automat named Horn and Hardart.”3 This was the first Automat in the United States, and itContinue reading “The Benefits of Food Lockers for Your Restaurant”
Trending Restaurant Technology of 2022
The restaurant industry has been slowly adopting new innovative technology and digital solutions as of recent. Since 2020, this has led to an increase of new technology systems for restaurants and helped them adapt to a new digital reality. Technology and digital systems have helped many restaurants over the years, especially during 2020 and 2021. There has been new systems and new changes made in touchless payments, online ordering, contactless pickup, and more. QR codes QR codes have been mentioned a few times in our blogs. They are similar to bar codes, but QR codes are different in which theyContinue reading “Trending Restaurant Technology of 2022”
Why You Should Expand Your Restaurant and Bar’s Mocktail Menu
Mocktails and non-alcoholic beverages are growing in popularity throughout the years amongst Millennials and Gen-Zers. “59% of millennials cite avoiding loss of control as the primary motivation for limiting alcohol consumption on a night-out.”1 According to research studies conducted by FiorMarkets, non-alcoholic drinks are expected to grow eight percent per year across the globe through 2028.2 Moreover, the trend of non-alcoholic beverages are expected to continuously grow, especially in countries such as the United States, Germany, Japan, and Brazil.3 In addition, around 33% of Americans do not drink alcohol.4 This means “one out of every three guests at your home,Continue reading “Why You Should Expand Your Restaurant and Bar’s Mocktail Menu”
The Controversy of Third-Party Food Delivery Services
The demand for food delivery services increased when COVID-19 emerged. These third-party delivery services provide independent delivery personnel to deliver food to customers through their apps with a delivery fee and tip for the delivery driver. Most restaurants benefitted from these third-party food delivery services, but other restaurants did not have the same success rate. According to Mary King, “third-party food delivery services have setup fees of up to $400, charge a commission of 10% to 40% per order, and may not integrate with your point-of-sale system.”1 Restaurants are not opposed to using third-party delivery apps if that means theyContinue reading “The Controversy of Third-Party Food Delivery Services”
Metaverse: What it means for restaurants
Metaverse is the next evolution of social media, virtual reality, and the virtual world. Facebook has now been rebranded to the name, “Meta,” and is creating a virtual world through the metaverse. Meta’s (Facebook) founder, Mark Zuckerberg intends for metaverse to be a 3D, virtual space in which people can socialize, learn, and collab with one another.1 Zuckerberg explains that Metaverse will be a unified space in which “mingles digital and physical reality.”2 Zuckerberg claims that Metaverse will be “more natural and vivid” which is unlike the addictive social media targets such as Instagram and Facebook. These virtual reality worldsContinue reading “Metaverse: What it means for restaurants”
The Next Era of Social Media Marketing for Restaurants
Social media continues to be one of the best marketing channels of the century. Social media is an essential component of many brands’ marketing strategies. 90% of marketers say that social media marketing has increased their business exposure.1 However, as technology continues to change rapidly, so do social media and digital marketing. Tactics that are being used now, may not generate the same results as they did a few months ago. Brands and businesses need to realize that consumer behavior is constantly changing and there are always new social media platforms that are being made and current ones that frequentlyContinue reading “The Next Era of Social Media Marketing for Restaurants”
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