Call Us: (800) 971-1650
sales@qsronline.com
QSROnline – Restaurant Management SoftwareQSROnline – Restaurant Management SoftwareQSROnline – Restaurant Management SoftwareQSROnline – Restaurant Management Software
  • ABOUT US
    • Customers
    • Integrations
    • Affiliate Program
    • Jobs
  • SOLUTIONS
    • Labor Scheduling & Management
    • Inventory & Food Cost Management
    • Enterprise Reporting
    • Accounting & Payroll Automation
    • Pricing
  • MOBILE APP SUITE
    • Labor Scheduling Apps
    • Counting App
    • Reporting App
  • RESOURCES
    • Videos
    • Case Studies
      • Sonic Reiser Group Case Study
      • Sonic Wintco Case Study
      • Sonic MVP Case Study
      • Sonic McCans Case Study
      • Brewster Street Case Study
      • Hat Creek Case Study
  • BLOG
  • PARTNERS
  • CONTACT US
  • REQUEST A DEMO

Inflation Impact on Customers

    Home Blog Inflation Impact on Customers
    NextPrevious

    Inflation Impact on Customers

    By Taren Martin | Blog | Comments are Closed | 28 February, 2023 | 0

    It’s obvious that prices have increased quite a bit over the last several months. A few weeks back in our Navigating Inflation article, we gave some insight on ways to successfully run your restaurant and turn a profit amid rising costs.  This week we will take a look at how customers are responding to these higher prices and what that means for your restaurant.  

    During the pandemic, we saw the number of customers who were dining in or ordering takeout rise and fall as different variances of the virus came and went.  Numbers were on the rise in 2022 as people began to really feel a sense of safety and the overwhelming need to get out and socialize.  Then inflation hits and we saw numbers begin to fall in November and December of last year.

    Here is where some good news comes in.  The U.S. Census Bureau showed a spike in sales volume in January and it seems that people value a meal outside the home and will adjust their budget accordingly.  Of course it took some time for customers to observe how inflation was going to impact their home, but it appears that dining out is a priority and inflation is not slowing customers down.  So with the last three years of numbers going up and down, we are now in the 3rd year and it seems dining out or ordering to-go is going to stick around. 

    Restaurants have done a great job of recognizing the impact of inflation and have come up with ways to best serve their customers, such as offering loyalty programs through apps or other special promotions to keep customers coming back. So what does this mean for restaurants if customers have accepted inflation costs and have come to terms that prices will not go down?  Should they stop offering all of the promos and loyalty rewards?  Not at all.  These are great ways to keep customers coming back, build relationships and show that you care. Continue to serve your customers well, so when they want to eat out, they will choose your restaurant.  Spring and summer are on the horizon which means many people who have been cooped up this winter will be ready to get out, enjoy the sunshine and dine out, even with the rising prices!

     

    No tags.

    Related Posts

    • Upselling and Boosting Profits

      By Taren Martin | Comments are Closed

      We have talked about ways to boost profits, but If you want to try a more direct approach, let’s talk about upselling.  Upselling is having your waitstaff inform the customer of more expensive menu itemsRead more

    • Internal Fraud and Ways To Prevent It At Your Restaurant

      By Taren Martin | Comments are Closed

      Last week we talked about external restaurant fraud, different ways that it can occur and how to handle it when it does.  This week we look at what makes up around 75% of restaurant lossesRead more

    • Combatting External Restaurant Fraud 

      By Taren Martin | Comments are Closed

      Between scheduling staff, tracking inventory, accounting and payroll, hiring staff, training staff and the hundreds of other tasks it takes to run a restaurant, you don’t want to forget to take precautions against restaurant fraud. Read more

    • Protecting Your Bottom Line 

      By Taren Martin | Comments are Closed

      When running a restaurant, your bottom line should always be a top priority.  You want to be sure that at the end of the day, you are ahead and out of the red.  Inflation, fluctuatingRead more

    • Restaurant Data Analytics

      By Taren Martin | Comments are Closed

      When dreaming up a new restaurant concept, it is fun to focus time and energy on what the menu will look like, research what aesthetic will look best, and figure out ways to make youRead more

    NextPrevious

    Recent Posts

    • 29 March, 2023
      Comments Off on Upselling and Boosting Profits

      Upselling and Boosting Profits

    • 20 March, 2023
      Comments Off on Internal Fraud and Ways To Prevent It At Your Restaurant

      Internal Fraud and Ways To Prevent It At Your Restaurant

    • 15 March, 2023
      Comments Off on Combatting External Restaurant Fraud 

      Combatting External Restaurant Fraud 

    • 6 March, 2023
      Comments Off on Protecting Your Bottom Line 

      Protecting Your Bottom Line 

    ADDRESS

    5633 S. Staples St. Suite 100

    Corpus Christi, TX 78411

    Tel: (800) 971-1650

    sales@qsronline.com

    SERVICES

    • SOLUTIONS
    • MOBILE APP SUITE

    COMPANY

    • ABOUT US
    • CUSTOMERS
    • INTEGRATIONS
    • JOBS
    • CONTACT US
    Copyright © 2022 QSROnline.com, LLC.
    • REQUEST A DEMO
    • ABOUT US
      • Customers
      • INTEGRATIONS
      • Affiliate Program
      • Jobs
    • SOLUTIONS
      • Restaurant Labor Scheduling & Management
      • Inventory & Food Cost Management
      • Enterprise Reporting
      • Accounting & Payroll Automation
      • Pricing
    • MOBILE APP SUITE
      • MANAGING APP
      • LABOR SCHEDULING APPS
      • COUNTING APP
      • REPORTING APP
    • RESOURCES
      • Videos
      • Case Studies
        • Sonic Reiser Group Case Study
        • Sonic Wintco Case Study
        • Sonic MVP Case Study
        • Sonic McCans Case Study
        • Brewster Street Case Study
        • Hat Creek Case Study
    • Blog
    • PARTNERS
    • CONTACT US
    • Privacy Policy
    • Privacy Policy
    QSROnline – Restaurant Management Software