Today’s restaurant consumers have changed. Not only do they perceive that restaurant prices are at their highest since Q1 2021, but they’re more price sensitive than ever and have even changed how they view menus. These changes in customer behavior aren’t necessarily...
The most recent third-quarter figures from the US Commerce Department indicate a 2.6% increase in the GDP. Compare that growth to the first half of the year, when the economy was headed the other way (downward), and if you squint hard enough, it may look like we’re...
To better understand how consumer behavior is shifting, RMS surveyed UK respondents once again and compared results to our Q1 2022 survey. How have price perceptions and dining habits changed in the past months? Are guests starting to cut back on their restaurant...
Analyzing hours of operation is an opportunity for profitModifying hours on a store-by-store basis might be wise but requires quantitative, evidence-based dataBrands can help their franchisees by supporting modified hours of operations For fast casual and...
About today’s value equation, The Elliot Group Chief Brand Officer Sarah Lockyer said: “It’s not just one value equation per brand, it’s the value equation of off-premise, the value equation of dining in, and the value of price and our collective ability to help...
Key Takeaways: Quick-service restaurants (QSR) can address inflation with a combination of menu engineering and pricingConsider product availability, and analyze your menu for what’s working and what isn’tInstead of resizing, reconfigure and consider what works from...
Back-to-work trends and uptakes in COVID vaccines have stabilized in the beginning of 2022. But how has the inflationary environment affected restaurant consumer behavior? Are there any early indications of customers starting to trade down or even trade out? RMS...
Early warning signs include reductions in average check, average spend per guest, and add-on attachment rates.Monitor demand by item and cumulative traffic patterns as they can also indicate trade-down or trade-out. As inflation holds steady and prices go up, how can...
At RMS, we help thousands of restaurants mine mountains of sales data to uncover actionable insights. Throughout the process, we get hundreds of questions. In 2021, the question we heard most often was “How much price can I take?” The answer isn’t simple. “Taking...
Jeremy Bess, Senior Director, Consulting Services at RMS As anyone who runs a restaurant can attest, the restaurant business never has a shortage of concerns. But these days, the concerns are nearly unprecedented. Based on the Labor Department’s latest price index...
As we look ahead to what inflation and food costs hold for the balance of 2021, restaurant operators find themselves in that strange spot between not great news but not bad news, either. Or, as Jennifer Bartashus, Senior Equity Research Analyst, Consumer Staples &...
As minimum wage hikes and soaring food costs take a toll on restaurants, brands are raising prices to offset costs, and some are letting their customers know. But while some operators are taking a big price hike across its whole menu and in every location, according...
At RMS, we field a lot of questions from our clients. In the past 12-15 months, our clients have had new concerns, brought forward by reduced menus, an increasing number of digital channels, labor shortages and supply chain issues. But no matter the environment, one...
Recommended for youNewsGroundbreaking Research To Study Menu Design In The New Era Of Online OrderingOctober 2019Client Successes, NewsNoodles’ easier-to-read menus come with price increasesApril 2019NewsHow to handle menu price hikes as labor costs soarNovember...
While the chicken wars flocked to new heights this year, another burger alternative is quietly growing its share: plant-based proteins. Not confined to a drive-thru sandwich, the category encompasses a wide range of grocery and restaurant options, including nut and...
As the U.S. House of Representatives works to advance its $1.9 trillion coronavirus relief package, it’s safe to say that the bill’s passage would positively impact restaurant sales. After all, if passed, the bill would grant individuals up to $1,400 directly and...
In 2020, 21 states raised their minimum wage. On New Year’s Day 2021, 20 more states did the same. Five additional states (Connecticut, Delaware, Nevada, Oregon, Virginia) and the District of Columbia will follow suit over the coming months, in addition to Florida’s...
In 2020, 21 states raised their minimum wage. On New Year’s Day 2021, 20 more states did the same. Five additional states (Connecticut, Delaware, Nevada, Oregon, Virginia) and the District of Columbia will follow suit over the coming months, in addition to Florida’s...
Recommended for youClient SuccessesTurning double-digit traffic decline into traffic increase and margin growthSeptember 2018NewsN.C. State students analyze how changes in a restaurant impact traffic and salesSeptember 2018NewsTo tech or not to techFebruary...
“Should I take price?” has been the primary question from our restaurant clients of late. Our answer, surprisingly, remains the same now as it was pre-COVID: “That depends.” We remain in the midst of the greatest challenge the restaurant industry has ever faced. Yet...
Delivery is on everyone’s mind right now. Restaurants traditionally oriented towards dine-in, have made significant moves to implement delivery options. As restaurants expand this contactless channel, they face a complex environment with higher costs to serve....
In June, RMS Managing Directors Philipp Laqué, based in London, and Nicolas Bordeaux, of Paris, shared the state of the restaurant industry in Europe and the UK. We checked back in with our European outposts this month, with additional insights from Rosa Blanco-Vegas,...
Normal is still a far way off for United Kingdom restaurant owners and operators, but July did bring about a few bright spots amidst a tough first half of the year. On July 4, restaurants and pubs opened. A few days later, borders reopened for travelers from...
