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Cut costs and gain a competitive advantage with these restaurant supply chain strategies: https://ow.ly/Zw5G50Tu2HI

Running a #Restaurant Supply Chain can be tricky. Read our latest article that can help you cut costs and gain a competitive advantage. #supplychain #netsuite

The votes are in, and restaurant loyalty programs are here to stay. 💸 We surveyed 800+ restaurant decision-makers about their predictions for 2024 and found that restaurants are increasingly leaning into loyalty and rewards as a way to boost marketing efforts and retain customers. Read the latest byline in Fast Casual from our Director of Market Insights, Julie Gregg to learn 3 more top restaurant trends for the year. 👇 https://bit.ly/3Sttp5R

In today's challenging economic climate, restaurants continually seek innovative ways to attract and retain customers. They offer a practical, budget-friendly dining option that meets the needs of today's cost-conscious consumers while driving traffic and boosting sales for restaurants. Check out this great article from the Modern Restaurant Management (MRM) magazine discussing some great strategies to take advantage of this type of marketing for your operation. #restauarnts #marketing #consumerstrategy

I couldn't agree more with the summary of this Modern Restaurant Management (MRM) magazine article. "The summer of 2024 is shaping up to be pivotal for the fast-food industry with challenges and opportunities for QSR brands to refine their value strategies." Consumers are seeking value at unpresidented levels. Check out these tips to make sure you don't get left behind. #restaurants

In addition to this Toast intel, the National Restaurant Association released its State of the Industry Report for 2024 with the following information: "Restaurant customers are also contending with the impact of inflation. Seven of 10 often hunt for menu specials or discounts and are willing to go farther if it’ll stretch their dollars, according to the association. The group found that 84% of consumers would dine at off-peak times if a discount was offered…” Did you know that with Toast loyalty, you can utilize your sales data to implement double loyalty points during off peak hours or seasons? With our “works better together” platform, engage existing and new loyalty members through our email marketing platform to really see a spike in your sales!

2024 will be the U.S. restaurant industry's biggest year ever in sales — $1.1 trillion by the end of December, per National Restaurant Association estimates. The COVID-19 pandemic devastated the restaurant industry, but sales are now far higher than before it started — and climbing. That's despite big financial pressures on restaurateurs, such as tech investments and the cost of labor and food. Total spending at U.S. food service establishments is expected to rise 5.4% this year, to $1.106 trillion, per the National Restaurant Association's annual "State of the Restaurant Industry" report. That's up from $1.049 trillion last year and $864 billion in 2019, the year before the pandemic. To grow their businesses in an increasingly competitive environment, restaurants are looking to technology, social media, and increased catering and delivery options. They're trying to balance "high touch and high tech," as Michelle Korsmo, CEO of the National Restaurant Association, tells Axios. There were more than a million unfilled jobs in restaurants and accommodations at the end of March, Korsmo said, citing Bureau of Labor Statistics figures. Competition for restaurant staff is "not as intense as it was before" — during the pandemic and coming out of it — but restaurant owners "definitely feel that they are in competition for the best workers," she said. Technology is helping — both in automating order-and-delivery systems and handling simple tasks — but can only do so much. "There's no doubt the future looks like more robotics in the kitchen," Korsmo said in an interview following the National Restaurant Association's annual trade show in Chicago last month. "It's a question of whether robotics are in the dining room itself." Inflation is prompting some diners to shift to lower-priced restaurants, seek out value meals, and take advantage of loyalty and rewards programs, Korsmo added. By the numbers: 33% of restaurant operators expect sales to be higher this year than last, and 45% expect them to hold steady, according to a National Restaurant Association poll. Two-thirds say the number of restaurants in their area has rebounded from pre-pandemic levels. 45% say they need more employees to meet customer demand.

Can Dynamic Pricing Ever Get a Break? In 2023, restaurant guests said they hated dynamic pricing. https://lnkd.in/grKi6QvV - Dynamic pricing can lead to financial losses for restaurants. - Most consumers (66%) view dynamic pricing as unfair, equating it to price gouging. - Customers are highly price-sensitive, with 81% checking menu prices before choosing a restaurant and 51% having stopped patronizing restaurants due to price increases. - Dynamic pricing adds friction to the customer experience, making it harder for consumers to decide where and when to eat (65%) and to budget their restaurant spending (63%).

In this article, Crunchtime takes a look at restaurant analytics and how can you take advantage of them to help your restaurant grow. https://lnkd.in/dukDCntF

Today's restaurant industry is more dynamic than ever. How can you adapt to today's consumer environment? Check out this Nation's Restaurant News article for more information on these four strategies: -Evolving menu offerings -Enhancing the consumer experience -Investing in employees -Implementing balanced pricing #restaurants