Tuesday, September 10, 2019

3 Restaurant Industry Trends to Watch in 2019

1. The Rise of Online Ordering
According to the National Restaurant Association, 60 percent of U.S. consumers order delivery or takeout at least once a week.
Online ordering sales could rise an annual average of more than 20 percent to $365 billion worldwide by 2030, from $35 billion according to investment bank UBS. A recent study conducted by CHD Expert shows that restaurants will see this revenue from a variety of venues:
  • Pick-up is projected to generate $124 billion in sales this year.
  • Direct delivery from a restaurant: $32 billion.
  • Delivery from a third-party delivery company: $13 billion..
2. Experimenting with Dining Experiences
The quality of food and service has been at the center of the restaurant industry, but with so many establishments making great food and providing exceptional service—there is a question restaurateurs must ask themselves: What are we doing to set ourselves apart?
In 2019, the industry will continue to adapt to restaurant trends and move toward out-of-the-box experiences for consumers. Long gone are the days of typical two-for-one meals and happy hours—restaurants are now pushed to ask themselves what they can do to offer diners an experience that they’ll never forget.
In response to the typical restaurant week that diners have grown tired of year after year, reservation company Resy has partnered with Capital One to create Off Menu Week. This new program will take place in six major U.S. cities—Los Angeles, Washington D.C., San Francisco, New York City, Chicago, and Austin—and will offer customers a unique, behind-the-scenes experience at their favorite restaurants..
3. Keeping an Eye on Food Cost
With food cost accounting for up to a third of expenses for restaurants, they are a natural place for restaurateurs to look for relief. According to RestaurantReport.com, a successful restaurant typically generates a 28 to 35 percent food cost. Regularly monitoring restaurant food cost will help determine when restaurant owners need to make adjustments to menu prices or switch up the types of ingredients or quantity of items you’re purchasing. It can also help gauge if there’s a discrepancy is between food cost percentage and what your actual food cost is..Read more here

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