Restaurant Operators Turn to Tech to Offset High Costs
Look for high-tech ways to take the sting out of increased expense of food and labour
As restaurants grapple with high food and labor costs, some operators are turning to technology solutions to cut costs and build revenue. The National Restaurant Association’s 2023 State of the Restaurant Industry report reveals that 90% of operators view inflation as a significant challenge, with 92% of operators saying that food costs pose a big challenge and 89% responding similarly about labor costs.
Inquiry Launches to Boost Prosperity Through Productivity
If Australia is to continue to grow its economy and increase individual prosperity, productivity policy should focus on key emerging trends like the shift towards service industries, according to the final report of the Productivity Commission’s 5-year Productivity Inquiry.
“Australia’s economy has changed. Almost 90% of Australians now work in service industries, including education, health, hospitality, retail and finance,” Productivity Commission Chair, Michael Brennan said.
Increase Restaurant Revenue by Focusing on These 4 Customer Types
Understanding your guests’ behaviours leads to increased loyalty and ultimately more revenue.
Restaurant customers recognize their differences from one another and want an experience that is tailored to them, speaking to their wants and needs. A recent report from PWC cited that a whopping 82 percent of consumers are willing to share some of their personal information to receive a better and more personalized customer experience. Also, personalized experience was referenced by 87 percent of respondents to PWC’s survey as one part of the buying experience that is most important to them.
Creative Restaurant Marketing Strategies for Increasing Revenue and Branding
Today restaurant businesses are snowballing, and if you are into it, you already know how competitive the restaurant market has become. Also, the success of any restaurant mainly depends on marketing strategy, branding, and promotional activities.
So, keep reading if you are looking for effective ways to improve your restaurant marketing strategies. Here we will share some creative marketing solutions for increasing your restaurant revenue and branding.