Remove 2023 Remove Food Prices Remove Inventory
article thumbnail

The Top 5 Bar and Restaurant Trends 2023

Sculpture Hospitality

Inventory management is a critical aspect of running a successful restaurant or bar business, but strategies are constantly evolving. 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.

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. This means lower interest rates for businesses financing inventory and investing in expansion.

professionals

Sign Up for our Newsletter

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

article thumbnail

Restaurant Marketing Has Evolved: Unlock the Preferences of the Modern Customer

Modern Restaurant Management

2023 brought new challenges to the table for the restaurant industry, from rising food prices due to inflation to continued disruptions in the supply chain. A Restaurant Pulse Check by Vericast found that nearly half of consumers plan to spend less on dining out in 2023. billion consumers with restaurants every year.

article thumbnail

The Fresh Forecast: Trends in Retail Foodservice 

The NAFEM Show

Grocery and convenience stores must strike the right balance between price and quality to meet consumer expectations in the age of “value shopping.” New technologies and automated solutions are helping retailers optimize efficiencies in addition to better forecasting and managing inventory. It’s a win-win.

article thumbnail

MRM Research Roundup: Mid-Year 2024

Modern Restaurant Management

Chick-fil-A drops two percent to an ACSI score of 83 but still leads among individual fast food chains for the tenth consecutive year. million in revenue in 2023 (more than double that of McDonald’s while being open one day less per week). The ACSI Restaurant and Food Delivery Study 2024 is based on 14,604 completed surveys.

article thumbnail

Top 9 Foodservice Trends of 2024

Chef's Deal

You can use AI to automate and manage your inventory or energy spending. Experiential Dining and Memorable Experiences 2023 was filled with themed café openings and sophisticated night-out stories on social media. Such methods went viral in 2023 when some London restaurants, like Tastefilm, started pairing movies and dining.

article thumbnail

MRM Research Roundup: Super Bowl and Valentine’s Day 2024 Edition

Modern Restaurant Management

Nearly all restaurateurs (98 percent) believe AI will solve some of their staffing challenges, particularly around food prep and delivery management (42 percent), voice ordering technology (41 percent), predictive ordering and inventory management (39 percent), and food prep robots (38 percent). percent in 2023.