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2023 Outlook: Trends and Challenges Restaurants Will See, Part Two

Modern Restaurant Management

Modern Restaurant Management (MRM) magazine asked experts for their thoughts on trends and challenges that will affect the restaurant industry in 2023. In 2023, we can anticipate businesses really focusing in on value and doing what they can to attract and retain both employees and guests. For part one, click here.

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What Does 2024 Look Like for the Restaurant Industry?

Modern Restaurant Management

It’s the perfect time to look back on a few things we learned in 2023 – based on recent survey data from our restaurant partners – as well as what we predict for the industry in 2024. The survey also showed 75 percent of respondents expected their labor costs to increase in 2023.

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MRM EXCLUSIVE: New Research Reveals Restaurant Managers Are Key Ingredient in the Recipe for Staff Retention

Modern Restaurant Management

Fueled by this backdrop, Toast's Market Insights team sought to better understand restaurant employees' perspectives—from bright spots to challenges faced—by conducting a survey in February and March 2023 of more than 1,000 US restaurant workers. So, what did we find?

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Smart Supply Chain Management Can Reduce Food Waste and Improve Margins in Your Restaurant

Modern Restaurant Management

The Hidden Costs of Food Waste According to the James Beard Industry Report at the end of 2023, more than 50 percent of the restaurants that participated in the survey showed lower profits than the year before. From an operational efficiency standpoint, it helps reduce delays and fuel usage. Accurately timed deliveries : Timing is everything.

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9 Top Restaurant Technologies To Evolve Your Business

7 Shifts

Delivery, scheduling, inventory management, reservations, and guest management have seen technological advancements over the past few years, and it's just the beginning. Restaurant employee scheduling software Other than having a good product, your staff and how you manage them is the ultimate marker of restaurant success.

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Event review: Recovery strategies at Deloitte conference

Boutique Hotel News

At the time, though the topic was not officially highlighted in the schedule, it permeated the conversation throughout the day. Ireland was a surprising addition to the list of countries with high occupancy levels, in this case a result of housing refugees.

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Restaurants Implementing Technology Today Are Better Prepared for the Disruptions of Tomorrow

Modern Restaurant Management

From 2019 to 2021, the number of customers using food delivery apps rose by 21 percent , and this number is expected to grow another 22 percent by 2023. All three reasons tie back to dissatisfaction with wages, but restaurants may struggle with addressing this, as 86 percent of operators are reporting lower income than before the pandemic.