Gridwise’s Post

🎉 The QSR Challenge Series Starts Today! I’m excited to launch the first episode of my new series, where we tackle real-world challenges in the QSR industry. Today’s scenario: solving the mystery of high food costs at one location. Your insights could be the key to cracking this case. Let’s discuss and learn together! 🔔 Check out the first scenario below and join the conversation in the comments. Looking forward to hearing your thoughts! Scenario 1: The Mystery of High Food Costs Imagine you’re managing a successful chain of restaurants, each with similar demographics, average checks, pricing, menu mix, and customer profiles. However, there's a perplexing issue: one location consistently reports a 5% higher food cost compared to the others, despite everything appearing identical on the surface. Case Study: You’ve done your due diligence and reviewed the inventory meticulously—no discrepancies. The menu items sold align perfectly with expectations, and customer traffic remains steady, showing no unusual patterns. Even the portion sizes and preparation methods have been checked and confirmed as standard across all locations. Yet, despite these efforts, the food cost at this particular location remains stubbornly higher. To make matters more complex, the kitchen staff is experienced and has been with the restaurant for years. There are no significant differences in supplier pricing or delivery schedules, and all locations adhere to the same ordering and receiving processes. Question: Given this scenario, what hidden factors could be contributing to the increased food cost? What steps would you take to dig deeper into this mystery and bring food costs back in line with the other locations? 🔔 Share your thoughts in the comments! Let's see how can we crack this case and uncover the hidden culprit behind the higher food costs! #QSRChallenges #RestaurantManagement #FoodService #HospitalityIndustry #BusinessStrategy #OperationsExcellence #FoodIndustryInsights #LeadershipInF&B #CustomerExperience #OperationalEfficiency

The Value Menu - Data Points to Consider 1. Fast-food prices have risen 20% since 2021, leading to a decrease in visits from low-income consumers. 2. Low-income consumers are cutting back on fast-food spending due to rising food prices and financial stress. 3. Fast-food chains are less likely to offer unsegmented discounts and promotions to attract low-income consumers due to increased sales despite lower traffic. 4. Instead, chains are using loyalty apps and targeted discounts instead of across-the-board menu slashes to appeal to low-income consumers.

THE RISE OF MEAL DELIVERY SERVICES: A CULINARY REVOLUTION FUELED BY GEN X AND GEN Z. My Son lives in Washington State outside of the Seattle area. Food prices in this state have soured to a ridiculous level becoming nearly unaffordable. So he and his wife have turned to an online meal delivery service that takes care of supplying a complete Kit for a specific recipe, and they are saving money. They are both busy professionals that don't want to waste the time of driving to a store, shopping, and paying higher prices to make dinner meals. So the the supply and demand lines have crossed, and they are taking advantage of the opportunity. According to a report by Allied Market Research, the global meal kit delivery services market was valued at $10.6 billion in 2020 and is projected to reach $20.0 billion by 2027, growing at a CAGR of 12.8% from 2021 to 2027. This exponential growth can be attributed, in large part, to the increasing demand from two key demographics: Generation X and Generation Z and rising grocery store food costs, gas, going out to restaurants, and the time that it takes to plan and prepare a meal. Additionally, their user-friendly apps and seamless online ordering systems resonate well with tech-savvy consumers. Food Manufacturing companies should not ignore the trend and should be positioning themselves to take advantage of a growing marketplace. QUESTION TO ANSWER IN THE COMMENTS : Is your company taking advantage now or positioning itself to gain revenues in this marketplace segment ? Let us know by making your explanation in the comments. Top Tier Talent Advisors has been helping Companies To Scale And Achieve Profitability Goals for 23 years, by Recruiting Top Tier Manufacturing Talent in Food, Packaging and the Industrial Products Industry. contact us at 931 400 2110 or visit www.toptiertalent.us #hellofresh #foodmanufacturing #recruitmentjobs #talentaquisition

📢 Attention Quick Service Restaurant Owners! 🍔🍟 In today's fast-paced world, low-income consumers are finding ways to stretch their dollars further, and QSRs have a unique opportunity to meet their needs! 💡 Trend Alert: There's a growing street fight over low-income consumers, and the key to winning their hearts (and wallets) is snacks! 🍿🌮 Consumers are increasingly substituting meals with snacks to save money, and parents are more likely to skip meals, making affordable snack options crucial. To stay ahead of the curve, QSRs should create and promote mini versions of their menu items, offering tasty, budget-friendly snacks perfect for on-the-go and small meals. Innovating with snack-sized portions and showcasing value through quality and affordability can help engage your audience through creative promotions and social media campaigns. By positioning your brand as the go-to for delicious, cost-effective snacks, you can boost sales and build loyalty. Make every dollar count for your customers and watch your business grow. Let's make snacks the new mealtime hero! Follow Culinary Tides, Inc. for more insights. https://lnkd.in/eDMxC3db

🏪 Millennials are shifting from restaurants to C-store foodservice, but the real story is bigger. C-stores are now direct competitors to QSRs, thanks to improved food quality and the convenience of one-stop shopping. This trend appeals to all generations, not just Gen Y. It's time to take C-stores seriously as a major player in the foodservice landscape. Follow Culinary Tides, Inc. for more insights. 🍔🥤 #FoodTrends #CStoreRevolution #ConsumerConvenience Read the full article here: https://lnkd.in/evWpQUKn

Online Food Delivery Services Market will be Worth Nearly $ 314.3 Billion By 2032 Asia-Pacific region has held the maximum revenue share of 33% in 2022. The global online food delivery services market size was estimated at USD 59.8 billion in 2022 and is poised to grow at a CAGR of 18.1% during the forecast period 2023 to 2032. The online food delivery services sector is a rapidly burgeoning market that streamlines the process of ordering and delivering meals through digital platforms and mobile applications. This industry has experienced a remarkable expansion in recent times, primarily fueled by shifting consumer preferences, increasingly hectic lifestyles, and the sheer convenience offered by these platforms. The market's growth trajectory has been further catalyzed by the COVID-19 pandemic, as many individuals have embraced online food delivery as a safer and more convenient dining alternative. 𝐕𝐢𝐞𝐰 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 👉 https://bit.ly/46nWAge #onlinefooddeliveryservicesmarket #onlinefooddeliveryservices #precedenceresearch

Characterized by restaurant delivery platforms expanding into groceries and traditional supermarkets digitizing to remain competitive, the transformation of the grocery delivery sector is a hallmark of the digital age. Peter Backman explores this shift in the latest FOD International. https://lnkd.in/emP8EQv6

Why investors are showing interest to invest in SayNoCash Online Food Order 1. *Growth Potential: * The restaurant industry of food delivery and digital ordering platforms is continuously growing, with a global market size of around $135 billion in 2022. SayNoCash, with its innovative features and services, is positioned to capture a significant share of this expanding market. 2. *Strong competitive advantage: * SayNoCash has a number of competitive advantages over other online food ordering platforms, including its focus on offering the original price, early ordering for dine-in, advance takeaway orders, home delivery, and efficient self-ordering systems. These features offer a number of benefits to both customers and restaurants, making SayNoCash a more attractive option than other platforms. 3. *Strong Founding Team: * The fact that SayNoCash was founded by IIT Kharagpur alumni showcases the presence of a dedicated and highly skilled team behind the platform. This strong foundation is often a key indicator of a company's potential for success. 4. *Operational Efficiency: * SayNoCash focuses on enhancing operational efficiency for restaurants, which can lead to cost savings and improved customer satisfaction. Efficient order processing and reduced wait times contribute to increased revenue for partner restaurants. 5. * Scalable Business Model: * SayNoCash has a scalable business model that can be easily expanded to new cities and regions. SayNoCash's home delivery service using restaurant staff can help eateries expand their customer base. This expansion of reach can result in revenue growth for both the platform and partner restaurants. 6. *Customer Convenience: * SayNoCash simplifies the food ordering process for customers, making it more convenient and user-friendly. As consumers seek seamless and hassle-free experiences, SayNoCash is well-positioned to meet their expectations. 7. *Adaptability to Market Changes: * SayNoCash's ability to adapt to changing market dynamics and consumer preferences is a testament to its resilience. The platform's versatility allows it to stay relevant and competitive in a fast-evolving industry. 8. *Increasing Demand for Technology Solutions: * In a digital age, consumers and businesses alike are looking for technology-driven solutions to enhance their experiences. SayNoCash provides the tools and services that meet these demands. 9. *Revenue Diversification: * SayNoCash's multiple revenue streams, including service fees from restaurants, convenience fees from customers, and marketing support for new restaurants, offer a diversified income source that can help mitigate risks. 10. *Commitment to Customer Satisfaction: * SayNoCash places a strong emphasis on customer satisfaction, which is crucial for building a loyal user base. Happy customers are more likely to return and continue using the platform, contributing to its long-term success.

The Vietnam online food delivery market size reached US$ 727.9 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,807.7 Million by 2028, exhibiting a growth rate (CAGR) of 15.61% during 2023-2028. A major factor catalysing the growth of the online food delivery market in Vietnam is its convenience and easy accessibility. With a growth in digital technology, the food delivery market in the country is being reshaped. Food ordered through online websites and apps provide customers convenience and a greater level of transparency. Through various online food delivery modes, consumers can compare the menus and prices of various restaurants. This enables them to order food according to their taste and preference at a better price than the conventional method of food ordering. Various food delivery applications and websites in Vietnam are offering numerous food options to their consumers. This include Vietnamese Cuisines, Western Cuisines, and South Asian Cuisines among others. Availability of such a wide range of food options caters to the food preferences of different consumers, thereby driving the overall demand of online food delivery services in the country. Enhanced efficiency of restaurants is another major driver of the online food delivery market in Vietnam. The online orders make the day to day operations more efficient for a restaurant. The time employees use to receive orders through the telephone is reduced and this increases the time employees have to focus on dine-in customers. Moreover, the chances of human errors due to miscommunication are also reduced when an order is made. Through online ordering and delivery system, a complete database of the customers can be created which helps in identifying recurring customers, their preferences and repeated orders. The previous ways of ordering food included many problems such as time constraints, different accents of people, disturbance over a phone call, etc. due to which restaurants are compelled to cancel or abandon the order. However, with the online food delivery options available, these challenges can be overcome. As a restaurant or a franchise of a food product are hesitant to launch their mobile application as it may incur additional cost for development, installation, maintenance, and marketing of the applications, they prefer to collaborate with various food delivery companies. Retailers have also been drawn to the country’s relatively young consumer population. The 15 to 64 age group accounts for the majority of the overall population of Vietnam and are a key demographic to spur the growth in the online food delivery market. #fooddelivery #quickcommerce

🍿 Food ordering and delivery platforms in 2024 The food ordering and delivery sector is experiencing a significant surge in growth, with projections indicating that this trend will continue to escalate in the forthcoming years. Our latest blog entry delves into the most recent advancements and trends within this industry, and we offer our predictions for the year 2024. Should you have an interest in gaining further insight into the future of food ordering and delivery, we highly recommend perusing our blog post. #foodtech #fooddelivery #foodordering #trends #deliveryplatforms