It seems like for the past few years, the restaurant industry has been slammed with obstacle after obstacle and this year was no different. Inflation and high turnover rates have forced restaurants to continue to pivot in order to stay afloat, but despite these hard times, many restaurants have found great ways to keep their businesses alive. Here are just a few of the big wins for the restaurant industry this year, and a glimpse into how 2024 could be a profitable year.
Technology
If it seems like we are seeing this word a lot, it’s because it is a driving force behind the success of so many businesses, including restaurants. Technology not only makes things easier for the staff, but allows for a better customer experience. Just a few of the ways technology has made restaurants more efficient and profitable are through POS systems, self-ordering kiosks, contactless payments, online ordering, restaurant management software that assists with accounting, labor scheduling, inventory and food cost, digital loyalty programs and kitchen display systems. As you can see, there are multiple ways to integrate technology into your restaurant and a myriad of reasons why you should. When you have the right tools to run your business, you can save time and money as well as increased accuracy. What more could you ask for?
Healthier Menu Options
Customers have made it clear that having healthier alternatives is important to them, even if they are visiting a quick service restaurant, and many restaurants have answered that call. Whether adding a vegetarian plate, offering a bowl instead of a burrito or having a plant based option, quick service and fast casual dining restaurants have adjusted their menus to better suit the desires of their customers. A plain old fashioned burger is still in high demand, however, restaurants have had to evolve as people become more health conscious.
Mobile App Rewards
This trend has grown rapidly and seen a lot of success. Restaurants are utilizing their apps to offer rewards to loyal customers by giving points for each visit. They also use this platform to send out updates about promotions they are offering and sometimes only offer to those who use their app. Restaurants are able to track customer’s data to see which menu items they love, and then can even use the data to personalize their marketing. Customers don’t seem to mind since they are being rewarded with free food!
Despite the questionable start to the year, restaurants have persevered and figured out ways to keep customers coming back. If your restaurant has struggled and you are on the fence about how to step up your game, take time to evaluate what you are doing and what you might be missing.
