article thumbnail

Tech Will Be Essential to Boost Food Safety and Quality in 2023

Modern Restaurant Management

We’re still facing product shortages, exacerbated by ongoing supply chain interruptions and the Russian-Ukrainian war stalling food shipments – including 9.5 Inflation is causing food prices – and food insecurity – to soar. . million tons of grain. Technology can boost business operations in a variety of ways.

article thumbnail

The Top 5 Bar and Restaurant Trends 2023

Sculpture Hospitality

Throw into the mix rising wages, skyrocketing food prices, staffing shortages, inflation and a difficult economy and the hospitality industry is no doubt set for a difficult year. Inventory management is a critical aspect of running a successful restaurant or bar business, but strategies are constantly evolving.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Ozempic Effect, How to Make Groceries Affordable Again + More

Food + Tech Connect

The rise of weight-loss drugs like Ozempic is causing ripples throughout the food industry, with nearly 7% of the population expected to use such medications by 2035, potentially transforming the way we approach nutrition. Big food companies and investors are watching as these drugs upend America’s diet industry.

article thumbnail

Restaurant Startup Growth and Business Outlook for 2024

Modern Restaurant Management

In all, we expect 2024 to be a better year for business than 2023 as the Federal Reserve executes the soft landing it has been seeking since this tightening cycle began. However, a tight labor market and stubbornly high food prices will continue to weigh on restaurant margins in 2024.

article thumbnail

Performance Greek Hospitality Industry Performance Q1 2023

Hospitality Net

In an environment of a significant slow-down of the global economy, geopolitical tensions, inflated energy& food prices and rising interest rates - leading to soaring costs for businesses and households - the Greektourism sector showed a strong performance in 2022 mainly on the back of pandemic related pent-updemand and accumulated savings, the strong (..)

article thumbnail

Celebrating 90 Years of Fresh, Maine Lobster

Modern Restaurant Management

Food prices are rising all over, how can you manage with a high-ticket item such as lobster? You are right, food prices have risen, and we are at a high level with lobster, however, we believe lobster prices will start to go down as we get further into the season especially as new shell (soft shell) lobsters arrive.

article thumbnail

How AI Alleviates Restaurant Pain Points

Modern Restaurant Management

Since the pandemic, restaurants have endured a plethora of issues ranging from fluctuating dining restrictions to supply chain issues to rising food prices. But arguably no issue has proven to be as constant and bedeviling as the labor shortage.

Staffing 194