Placer.ai’s Post

"QSR chains generally remain in a good position relative to the dining industry. They are a more affordable option than other food channels, they've invested more in mobile ordering and drive-thru technologies, they're opening more stores in high growth markets, and many chains have embraced new celebrity partnerships to help drive sales and menu innovation -- like McDonald's Famous Orders.'" Consumers have returned to McDonald's, Chipotle Mexican Grill and Panda Restaurant Group post-pandemic, but many are dining outside of what are considered typical breakfast, lunch and dinner times. Teresa Buyikian features Placer.ai's "Catching Up With Fast Food" report and commentary from R. J. Hottovy, CFA in this recent MediaPost article. Read more here: https://lnkd.in/d9xH3C69 #foottraffic #foottrafficanalytics

Orders with 2-5 items tend to be less accurate, as compared to baskets with 1 or 6+ items. (Generally. Certainly it varies from restaurant to restaurant.) Say you've isolated the ticket sizes that suffer the most from order inaccuracy, how do you go on to investigate what often go wrong? 👉 1. See which items are the most common in those tickets, and what are the most typical attachments to the hero product. You’ll obtain a chart similar to the one below. 👉 2. In this example, beverages tend to have the lowest accuracy ratings. So start asking questions such as: "Where are our beverages staged?" "Are they easily accessible?" "When and how do the staff grab beverages for the order?" "Do we have double-check in place to verify each order?" "Can we change the store layout, environment or protocols to minimize human error?" 👉 3. Upon identifying this operational gap, experiment with fixes at select locations and monitor their accuracy scores, before perhaps rolling it out brand-wide. (Sometimes it can be as simple as moving the beverage fridge closer to the staff). Bottom line is — if you aren't, start measuring the performance across location, channel, day part, operational category, menu items...in order to identify operational gaps and close them. Check out more on basket size and its correlation to order accuracy in the comments below! #restaurants #restaurantoperations #guestsatisfaction #dataanalytics

Let’s talk about the QSR industry and how fast it’s growing In the food industry few categories that mention below Cafes Restaurant Quick service restaurant Local vendors Cloud kitchen Most teenagers and corporate professionals prefer to consume QSR base fast food (pizza, burgers, French fries) QSR model is a quick service restaurant that provides quick service food with well-maintained hygiene. We have a big name in the QSR business chain such as Domino’s, Mc Donald’s, Pizzahut, Subway, Starbucks, Burger Kings, Lapinoz, Cafe Coffee Day All the above businesses run as QSR and they mostly target store explanation in tier-1, and tier-2 cities The market size of 25.64 billion USD in 2024, and that is expected to reach 38.71 billion USD by 2029, growing at a CAGR of 8.74% during the forecast period (2024-2029) Increase urbanization, changes in customer preferences, and a growing number of QSR chains offering pizza and pizza delivery services QSR is a growing market because people have changed their perspective toward eating habits and are more swift toward fast foods Follow Sudhansu Parmar For more content & Information Above mention statistics detail taken from Momder intelligence #Finanace #Investmentbanking #LinkedIn

TL;DR… Value = Perceived Benefits / Perceived Costs When perceived costs go up and perceived benefits go down… People go somewhere else. They go where… Perceived costs are low & perceived benefits are high.  It’s about *relative* value. That extends beyond category lines. This isn’t all that complicated. CNN nailed the simplicity of it: “People are essentially saying “look, if I’m already going to be overpaying for food, I may as well sit down and get some service out of it.”” “This isn’t entirely new. For years, the pricing gap between restaurant chains — from your traditionally cheaper “quick service restaurants” (like McDonald’s) to “fast casual” (Chipotle, Sweetgreen) and “casual dining” (Applebee’s) — has been narrowing.” “The once reliably cheap McDonald’s pushed its prices up, while sit-down restaurants leaned into value and convenience.” “Zooming out from the food space, all of this tracks with the post-pandemic tendency for shoppers to treat themselves to little luxuries and Instagram-worthy experiences. Are we getting takeout every night for dinner? No. Are we maybe making coffee at home or opting for a cheaper version from the corner bodega? Absolutely. But are we also spending a few thousand bucks to see Taylor Swift in Paris? Heck yes.” #food #marketing #strategy #restaurants Source: CNN Business + Allison Morrow

McDonald's is doing away with self-service beverages. Although the goal is to eliminate all dining room dispensers by 2032, several outlets have already pulled the soda plug from customers. Here's why: 1. Duplication - There's already one behind the counter, no need for multiple stations. 2. Hygiene - Even as we navigate towards post-COVID normalcy, the fear of unsanitary practices often makes customers nervous. 3. Customer Shift - McDonald’s itself notes that less than 10% of its customers now dine in at their establishment translating into smaller footprints, better drive-thru systems, and more efficient to-go options. 4. Free Refills – QSRs today recognize it’s more profitable to upsize you with a large Diet Coke, for example, and send you on your way versus having you order a small with endless refills. With the McDonald’s app, kiosk, and delivery services making up 40% of sales which reached $6.5 billion in Q2 of 2023, it’s clear that doing away with self-service is appetizing. Read more here: https://bit.ly/3QJEAXk #apexconstruction #construction #northernnevada #qsr #qsrconstruction #quickservicerestaurants #commercialconstruction #tenantimprovements #multifamilyconstruction #renonevada #fastfood #fastfoodrestaurant

Value is more than a big trend right now, it is a core customer proposition that looks to reengage casual consumers who tightened their spending following inflationary trends. While some might be successful with this strategy, true value comes from the whole picture. It's both the dollar you spend and the experience you get in return. Just look at Happy Joe's 🍕 . #Restaurant #Value #ServantLeadership

Name a POS company that has more actionalable data than Toast 📊 Hint - There isn't one! 😉 Check out our latest Restaurant Trends Report, using data powered by Toast's Benchmarking tool, which leverages an AI-based classification tool and allows users to compare restaurant and menu category performance against aggregated data from Toast restaurants. Want to know how your restaurant stacks up compared to your peers? Send me a DM and I'll show you how you can leverage benchmarking to increase profitability. #ToastPOSAI #ToastBenchmarking #restauranttrendsreport #ToastCommunity #ToastTab #ToastPOS #BuiltForYou #BuiltForRestaurants #SyracuseRestaurants

Innovative or image buster?…. Can you imagine walking into a fast-food joint not knowing the price of your favorite meal? Sounds bizarre, right? Well, buckle up because it might just become the norm. When we think of branding, we often think of Marketing, but pricing can have a significant impact on your brand image. Customers may perceive your brand differently, associating it with fluctuating prices and potential price gouging. Recently Wendy’s announced ‘surge pricing’ coming to a restaurant near you in 2025. The chain plans to experiment with surge pricing, changing menu prices based on demand and time of day which caused significant controversy. Cool concept in theory and love their adoption of real time digital, but with meal occasions skewed to key times of the day, feels like this will only result in increased pricing and angry customers. What do you think? 🍔✨ #DynamicPricing #FastFoodInnovation #WendysExperiment

Quick Service Restaurants are one of the fastest growing F&B segments in the market and they are always finding ways to attract budget-conscious customers. QSR's will usually have some sort of value menu featuring items priced at $1, $2, or $3, making it easy for customers to enjoy a meal without overspending. Combo meals provide a discounted package that includes an entrée, side, and drink, offering savings compared to buying each item separately. Limited-time offers present special items at promotional prices, creating a sense of urgency and excitement, which encourages customers to try new products and visit more frequently. #foodservice #foodandbeverage #foodie

William Blair’s recent survey pointed out something we're probably all feeling—people are getting tired of the rising costs of eating out. Higher menu prices, fees, and tips are pushing more guests to the drive-thru to avoid extra costs. And when it comes to digital ordering, we’re seeing more folks, especially under 60, getting comfortable with QR codes and kiosks, though many still prefer physical menus. One last thing worth mentioning: brand loyalty programs are gaining traction. 55% of people now say they’re using them, and for 41%, these programs actually influence where they eat. Loyalty seems to be making a real impact on dining decisions. Anyone else seeing these trends play out in your own restaurant habits?