By Mark Plumlee In today’s digital age, online reviews play a critical role in a restaurant’s reputation, which can directly affect the bottom line. A recent survey showed that 90 per cent of consumers read online reviews before visiting a business, and 88 per cent trust online reviews as much as personal recommendations. Therefore, it’s […]
Customers are always looking for better, smoother, and faster restaurant experiences and that applies to their off-premise dining, too. As the landscape focuses even more on convenience, restaurants will need to decide on a delivery system that offers the best customer experience. According to Paytronix, both first-party and third-party options offer benefits for restaurants and […]
Among the continuing supply chain delays, staffing shortages, and elevated food costs, many QSRs and restaurant chains are struggling with real estate inflation. As chains look for the best locations to open new franchises, rising real estate costs are making it difficult for some franchises to expand. According to Peter Saleh, managing director and restaurant […]
Repeat business is a restaurant’s bread and butter, and this means loyalty and retention is top of mind for many operators. According to studies, it costs a business 25 times more to acquire a new customer than it does to keep one, so it’s in your best interest to make customer loyalty your top priority. […]
Even as patios are filling up for the summer, online ordering continues to be an important revenue generator for restaurants. Diners want to eat out, but they also want the convenience of enjoying their favourite dishes from the comfort of their own homes. According to Paytronix, online orders have nearly tripled since the pandemic, so […]
Consumer habits have changed so much over the last few years, but despite flex hours and remote work, it looks like happy hour is still bringing people together and raising restaurant revenues. While happy hour once meant that people left the office to gather for after-work drinks, some are suggesting that it’s evolved, as customers […]
Consumers are cutting back on discretionary spending as they prepare for a possible recession, but have those cutbacks meant less revenue for restaurants? Are Canadians limiting their restaurant visits as inflation continues to soar? According to a recent study by Capterra, 85 per cent of consumers are worried about the looming recession, and nine out […]
As the foodservice industry continues to recover through elevated food prices and ongoing labour challenges, what does it look like in today’s economic landscape? Givex’s annual survey provides insight into diner preferences and industry trends. While inflation and a possible recession have motivated many Canadians to cut back on discretionary spending, the study found that […]
By Luke Rose Can restaurants use digital transformation as a tool to balance their bottom lines, consumer demands, and economic challenges? The current economic climate, paired with aftershocks from the pandemic, has fuelled a decline in consumer discretionary spending. As a result, many restaurants increased prices as they race to get their heads above the […]
Food inflation continues to weigh on restaurants and consumers. We have watched food costs reach record-breaking levels in this last year and experts predict that it will continue beyond 2023, offering elevated numbers into 2025. Current inflation has surpassed previously predicted numbers for 2023, reaching 10.6 per cent in February year over year, significantly above […]
