17 APR 2024 · 🫶 Subscribe NOW - Unlock a world of knowledge, innovation, and growth from the largest podcast network in foodservice! - https://www.savor.fm/ The restaurant industry is on the cusp of a major shift driven by tech-savvy Gen Y and Gen Z consumers who prefer convenience, with mobile ordering rapidly growing and projected to account for 11% of quick-service sales by 2020. Yet the industry is slow to adopt new tech, despite benefits. Companies like PAR, focused on innovative industry-specific POS solutions, are well-positioned to capitalize as the industry adapts to the next generation's expectations. 📈 Learn More ~ https://www.revernetworks.com/restaurant-power-index Restaurant Power Index featuring the top 50 brands' performance in consumer sentiment based on 12 performance markers in food, service, and overall brand consumer sentiment. The RPI features historical and current sentiment analysis for key brands based on the overall market sentiment data. Subscribe for weekly reports on the top brands in the restaurant industry.

26 MAR 2024 · The Evolution of Food Halls and Emerging Brands in the Face of Economic ChallengesIn this episode of The Restaurant Report, host Paul Barron and guest co-host Amy Hom, experts in the restaurant industry and consumer sentiment, delve into the fascinating world of food halls and emerging brands. Despite current economic challenges, such as rising prices and inflation, which have reduced restaurant visits, food halls, and innovative culinary concepts are showcasing significant growth and resilience.The episode starts with a discussion on Wonder Food Hall, a unique concept that recently raised an impressive $700 million in funding. Wonder Food Hall stands out by bringing together a diverse array of local and regional culinary offerings under one roof, creating a one-of-a-kind dining experience for patrons. Barron and Hom explore the factors contributing to Wonder Food Hall's success and its potential impact on the broader food hall landscape. Next, the hosts shift their attention to Avalon Food Hall, a relatively new concept in Alpharetta, Georgia. Avalon Food Hall houses a collection of local and regional restaurants, bakeries, and culinary businesses, providing a vibrant and communal dining experience. Barron and Hom analyze the key elements that set Avalon Food Hall apart and discuss how it caters to consumers' evolving preferences, seeking unique and authentic culinary experiences.In the final segment, the podcast deeply delves into BFF Burgers, a startup brand in Shoma Bazaar. Based on their expert observations, Barron and Hom conduct a comprehensive AI outline and project analysis. They examine BFF Burgers' business model, menu offerings, and growth potential, providing valuable insights for aspiring restaurateurs and industry professionals. Throughout the episode, Barron and Hom offer expert commentary on the evolution of food halls and the rise of innovative culinary concepts. They discuss how these trends are shaping the restaurant industry and provide valuable insights into emerging brands' strategies to thrive in the face of economic challenges.Our experts have created a new feature in the podcast - The Drawing Board- offering ideas and strategies for rising star brands to develop steps to success. https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2f1db768-62dd-4d08-8c38-96dd36d9ca5a_1920x1080.jpeg Executive Summary https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fca74295c-1970-4a61-acc7-98186a9334e1_484x454.png BFF Burgers is a lifestyle burger brand based in Miami, Florida, that has successfully connected with an emerging demographic and young families. With its excellent graphic and design style, strong social media presence, and high-quality products, BFF Burgers has achieved a consumer sentiment score of 82.8 out of 100, comparable to the top 25 Fast-Casual restaurant brands. Through targeted strategies, the company seeks to expand its customer base, develop a stronger lifestyle connection, increase average check size, and enhance its brand vision.Market Analysis The fast-casual burger market in Miami is highly competitive, but BFF Burgers has successfully carved out a niche by appealing to Latin females and young families. The company's strong social media presence and influencer partnerships have been critical to its success. However, expanding the customer base is possible by attracting more male customers and developing a stronger lifestyle connection with family-based consumers.Marketing Strategy - Expand male customer base: - Introduce menu items and promotions tailored to male preferences - Collaborate with male influencers and athletes to showcase the brand - Sponsor male-oriented events and sports teams - Develop a lifestyle connection for family-based consumers: - Create family-friendly dining experiences and promotions - Engage with parent and family-focused influencers and bloggers - Participate in community events and support local schools and organizations - Implement an upsell model: - Train staff to suggest add-ons and premium menu items - Offer combo deals and loyalty rewards to encourage higher spending - Introduce limited-time offerings and seasonal specials - Enhance brand vision through high-level influencers: - Partner with well-known chefs, celebrities, and lifestyle influencers - Collaborate on signature menu items and exclusive events - Leverage influencer content to showcase the brand's personality and values Financial Projections Based on the implementation of the above strategies, BFF Burgers expects to: - Increase male customer base by 20% within the first year - Boost average check size by 15% through upsell initiatives - Achieve a 25% increase in overall sales revenue by the end of year two - Allocate 10% of the marketing budget to influencer partnerships and collaborations Conclusion By focusing on expanding its customer base, developing a stronger lifestyle connection, implementing an upsell model, and enhancing its brand vision through high-level influencer partnerships, BFF Burgers is well-positioned for continued growth and success in the competitive Miami fast-casual burger market. With its unique positioning and strong consumer sentiment, BFF Burgers has the potential to become a leading lifestyle burger brand in the region.

11 MAR 2024 · In this episode of "The Restaurant Report," host Paul Barron is joined by Zach Goldstein, CEO of Thanx, a leading restaurant customer engagement platform. The discussion delves into the evolving landscape of consumer sentiment toward dining out, with a particular emphasis on Gen Z's unique behaviors and preferences. As the restaurant industry grapples with declining consumer sentiment and lower frequency rates, Zach and Paul explore the role of loyalty programs in addressing these challenges. They shed light on how Gen Z's definition of dining out fundamentally differs from previous generations and how this shift reshapes the industry's customer engagement approach. Throughout the episode, Zach shares valuable insights and strategies for operators seeking to adapt to this changing consumer landscape. He discusses the power of personalization, the importance of seamless digital experiences, and the potential of data-driven loyalty programs to foster long-lasting relationships with Gen Z diners.Key Takeaways: - Understanding Gen Z's unique dining preferences and behaviors - The declining consumer sentiment towards dining out and its impact on the industry - How loyalty programs can be leveraged to attract and retain Gen Z customers - Best practices for creating personalized and engaging loyalty experiences - The role of technology and data in driving successful loyalty programs Whether you're a restaurant owner, operator, or simply interested in the future of the dining industry, this episode offers valuable insights and actionable strategies to navigate the changing consumer landscape and win over the next generation of diners. Join Paul Barron and Zach Goldstein as they delve into the future of restaurant loyalty programs and explore how operators can adapt to the evolving demands of Gen Z consumers.

4 MAR 2024 · In this episode of The Restaurant Report, Paul Barron, a forward-thinker in technology and media, engages in a thought-provoking conversation with the CEO of ConverseNow, a company at the vanguard of AI-driven drive-thru technology. Together, they delve into the transformative power of artificial intelligence in reshaping customer service within the fast-food industry and beyond. Highlights of their discussion include: The Evolution of AI: An in-depth analysis of the current state of AI technology and its potential trajectory. They explore emerging trends, potential breakthroughs, and the ethical considerations of increasingly autonomous systems. The conversation illuminates how AI's rapid advancement will continue to alter the landscape of various industries, emphasizing adaptability and innovation. Adoption Process in the Restaurant Business: A comprehensive breakdown of how restaurants can integrate AI-driven solutions like ConverseNow's technology. They discuss the step-by-step process for onboarding, the challenges restaurants face during this digital transformation, and the tangible benefits such as improved efficiency, personalized customer experiences, and increased profitability. The dialogue also covers strategies for overcoming resistance to technological adoption within traditional business models. Building In-House Large Language Models: The dialogue critically examines why many enterprises or brands choose not to develop their large language models, despite the apparent advantages. They explore the complexities, costs, and expertise required to build and maintain these systems. The conversation highlights the importance of partnerships with specialized AI companies that offer scalable, customizable, and cost-effective solutions, enabling businesses to leverage the power of AI without the need for in-house development. This episode offers a rare glimpse into the future of AI in service industries, providing valuable insights for entrepreneurs, business leaders, and anyone interested in the intersection of technology, innovation, and customer service. Join us to uncover the practicalities and possibilities of AI, through the experiences of two industry pioneers leading the charge towards a more efficient, personalized, and tech-driven future. Savor.fm is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

26 FEB 2024 · Welcome to The Restaurant Report, where we delve into the exciting resurgence of casual dining trends in the hospitality industry. As consumers start to venture out again for dining experiences, casual eateries are seeing a significant uptick in popularity. In this episode, we explore the reasons behind this shift and what it means for the future of casual dining establishments. Today’s Guest - Hal Lawlor, President and COO of Smokey Bones Smokey Bones is a growing casual dining brand known for its delicious barbecue and creative menues. At the helm of this culinary adventure is Hal Lawlor, a seasoned professional with years of experience in the restaurant industry. Join us as we discuss: - The factors driving the renewed interest in casual dining include changes in consumer behavior, the rise of the foodie culture, and the desire for unique dining experiences. - Social media and online reviews shape consumer preferences and how restaurants can leverage these platforms to attract more customers. - The importance of menu innovation and the role of seasonal and local ingredients in attracting and retaining customers. - The future of casual dining trends and what to expect in the coming years, including the influence of technology and the growing demand for personalized dining experiences. Please tune in to our podcast as we chat with industry experts, restaurant owners, and food enthusiasts to uncover the latest casual dining trends and what they mean for the hospitality industry. Don't miss out on this informative and engaging discussion!

9 FEB 2024 · In a recent episode of the Restaurant Report Podcast, Sean Kennedy, Executive Vice President of Public Affairs at the National Restaurant Association, discussed several critical issues impacting the restaurant industry. Kennedy, who joined the association in June 2019, sheds light on the Association's advocacy efforts and strategic initiatives to support restaurant operators nationwide. We discussed various regulations that could affect the restaurant industry in ways we have not seen in the past two decades. Credit Card Competition Act: Addressing Swipe Fee Challenges One of the major topics discussed in the podcast is the Credit Card Competition Act. Kennedy emphasizes how credit card swipe fees often rank as the third highest cost for restaurants, following food and labor expenses. The proposed act seeks to introduce greater competition among banks by requiring the issuance of new cards to support at least two processing networks. This move aims to alleviate the financial burden imposed by swipe fees on restaurant businesses. NLRB 2023 Joint Employer Final Rule: Implications for Franchise Operators Kennedy delves into the implications of the NLRB's 2023 Joint Employer Final Rule, which broadens the circumstances defining joint employer status under the National Labor Relations Act (NLRA). This rule change significantly increases liability risks for operators engaged in franchisor-franchisee relationships or independent contracts for onsite services. Kennedy highlights the Association's support for Congressional actions aimed at overturning this rule to protect operators' interests. FTC "Junk Fees" Proposal: Impact on Restaurant Pricing and Transparency The discussion extends to the Federal Trade Commission's proposed rule on "unfair or deceptive fees," targeting industries including restaurants. Kennedy outlines the potential consequences of the proposed rule, which could compel restaurants to eliminate various surcharges and adopt a pricing model reflecting total costs per item. This shift not only imposes substantial compliance costs but also diminishes customer transparency and affects the wages of tipped employees. Preserving the Tip Credit: Clarifying Misconceptions Kennedy addresses misconceptions surrounding the tip credit and labor groups' efforts to eliminate it. Contrary to claims of subminimum wages, Kennedy explains that tipped workers already earn at least the minimum wage, with tips supplementing their earnings. Preserving the tip credit is crucial for maintaining the current wage structure and ensuring fair compensation for tipped employees across the industry. Listen to the entire Episode and Subscribe! Savor.fm is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

30 JAN 2024 · In this episode, Paul Barron discusses the fascinating world of dynamic pricing strategies and the potential role of AI in reshaping menu modeling. Ashwin Kamlani, the CEO of Juicer, joins him as they explore the exciting possibilities that lie ahead in the food service industry. Ashwin Kamlani, CEO of Juicer: Ashwin Kamlani, an expert in AI and its applications, joins Paul Barron to discuss the potential of AI in revolutionizing menu modeling. As the CEO of Juicer, Ashwin has a unique perspective on how artificial intelligence can be harnessed to optimize menu pricing and enhance customer experiences. The Evolution of Dynamic Pricing: Dynamic pricing is not a new concept, but it's gaining newfound significance in today's fast-paced and data-driven world. Dynamic pricing has entered foodservice traditionally associated with industries like airlines and ride-sharing services. Ashwin takes us through the fundamental principles of dynamic pricing and why it's becoming increasingly essential for restaurant businesses. The Role of AI in Menu Modeling: Artificial intelligence is poised to transform the way restaurants approach menu modeling. With AI-driven algorithms, businesses can analyze vast amounts of data to determine optimal pricing strategies, taking into account factors such as demand, time of day, and even weather conditions. Ashwin Kamlani shares insights into how Juicer is at the forefront of this technological revolution. Benefits of AI-Powered Menu Modeling: In this episode, Paul Barron and Ashwin Kamlani explore the myriad benefits of integrating AI into menu modeling. These advantages include: - Personalized Pricing: AI can analyze customer preferences and behavior to offer personalized menu pricing, enhancing customer satisfaction. - Real-time Adjustments: Dynamic pricing powered by AI allows for real-time adjustments, ensuring that menu prices are always competitive and aligned with market demand. - Optimized Profit Margins: AI can help restaurants maximize their profitability by finding the perfect balance between pricing and customer demand. - Enhanced Customer Loyalty: By offering customized pricing and promotions, restaurants can build stronger relationships with their customers, fostering loyalty.

22 JAN 2024 · In this episode, Amy Hom, a veteran of the restaurant brand and technology space, and Paul Barron delve into the challenges faced by fast casual restaurants in the current landscape where technology's role in driving top-line revenue and profits is not as promising as expected. This issue is rooted in the collision between technology and consumer behavior, placing restaurant brands in a complex position. One of the fundamental dynamics at play is the dominance of millennials in the social commerce market. In 2023, the global social media audience was estimated to comprise approximately 4.9 billion people, marking a substantial increase from previous years. Among these users, the 25-34 age group, which consists mainly of millennials, stands out as the largest demographic. The episode explores why technology companies may be experiencing a significant downturn, mainly when fast-casual restaurant operators are increasingly focused on cutting expenses and demanding that technology becomes a performing asset rather than just an operational cost. Adding to this intricate situation is the shifting demographic landscape. Baby Boomers, who are on the cusp of retirement, will range in age from 60 to 78 next year. Simultaneously, Generation Z, aged 12 to 27 next year, is rapidly graduating from school and entering the workforce. Gen Zers are emerging as the leading consumers of fast-casual restaurant food. This shifting demographic trend forces restaurant CEOs across the industry to reflect on their strategies and adapt to these changing dynamics. The interplay between technology, consumer preferences, and demographics presents challenges and opportunities for the fast-casual restaurant sector. To gain a deeper understanding of this complex issue, don't miss the full episode, where top analysts and consultants in the restaurant sector provide insightful discussions and analysis.

6 DEC 2023 · In today’s podcast, we dive into the future of technology and innovation that seem to dominate the consumer landscape; there is a growing paradoxical trend among millennials. Many of them are embracing traditional values while seeking unique and creative experiences. This shift in consumer preferences has not gone unnoticed by brands like Chicken Salad Chick, which has successfully tapped into this emerging trend. We will explore how Chicken Salad Chick connects with millennials through its blend of traditional values, technology, and creative experiences. The Rebirth of Traditional Values Millennials, often characterized as the generation of change and progress, are also known for their appreciation of traditional values. Many are redefining what these values mean in the modern context. Chicken Salad Chick is a brand that has recognized the power of nostalgia and tradition, offering a menu rooted in classic Southern recipes and comfort food. Their commitment to quality ingredients and home-style cooking resonates with millennials looking for authenticity in a world filled with fast-food chains and processed options. Tech-Forward Approach While Chicken Salad Chick embraces tradition in its menu offerings, it doesn't shy away from technology. The brand has leveraged digital platforms to enhance the customer experience. With user-friendly mobile apps and online ordering systems, they make it easy for tech-savvy millennials to access their favorite comfort food conveniently. Moreover, data-driven marketing strategies and loyalty programs cater to the digitally connected millennial consumer, ensuring that they stay engaged with the brand. Creative Experiences One of the ways Chicken Salad Chick connects with millennials is by offering creative experiences beyond just the food. The brand hosts events, promotions, and collaborations that appeal to the generation's desire for unique and Instagram-worthy moments. Whether it's themed pop-up shops, limited-time menu items, or partnerships with local artists, Chicken Salad Chick keeps millennials engaged and excited about their brand. Predictions Based on Historical Analysis Based on historical analysis and current trends, it's likely that Chicken Salad Chick will continue to thrive among millennial consumers. Here are some predictions: - Expansion of Nostalgia-driven Brands: As millennials age, their appreciation for nostalgia and tradition will likely grow. Brands like Chicken Salad Chick that tap into this sentiment will see continued success. - Tech-Enhanced Convenience: The fusion of tradition with technology will become even more critical. Chicken Salad Chick and similar brands will invest in AI-driven personalization, improving the digital ordering experience. - Sustainable Practices: With millennials' strong emphasis on sustainability, brands like Chicken Salad Chick may incorporate more eco-friendly practices in their operations to align with consumer values. - Community Engagement: Expect Chicken Salad Chick to strengthen its ties with local communities through charity initiatives and partnerships, aligning with millennials' desire for social responsibility.

1 DEC 2023 · In today's podcast, we delve into the world of Taziki's Mediterranean Cafe with the extraordinary Julie Wade. Join us as we embark on a culinary adventure, exploring the vibrant flavors and rich history of Mediterranean cuisine. Julie, the visionary behind Taziki's, shares her insights on creating a thriving restaurant business, fostering a passionate team, and delivering an exceptional dining experience that has captivated guests for over two decades. The restaurant industry is constantly evolving, and with the emergence of the next consumer generation – Generation Z – it's more important than ever to adapt marketing strategies to resonate with this tech-savvy, experience-driven demographic. This generation is characterized by their digital fluency, social consciousness, and preference for personalized experiences. To effectively capture their attention and cultivate loyalty, restaurants must focus on three key pillars: branding, technology, and consumer experience. Branding: Building a Resonant IdentityIn today's competitive landscape, a strong brand identity is essential for any restaurant. Gen Z is drawn to brands that align with their values and reflect their personalities. Restaurants should craft a brand that is authentic, engaging, and stands out from the crowd. This can be achieved through consistent messaging, visually appealing branding elements, and a unique brand voice that resonates with the target audience. Social media platforms like Instagram and TikTok offer excellent opportunities to showcase the brand's personality and connect with Gen Z consumers. Technology: Embracing Convenience and Innovation Gen Z is accustomed to seamless digital experiences, and restaurants must keep pace with their technological expectations. Embracing technology can enhance convenience, streamline operations, and create a more personalized experience. Consider implementing online ordering platforms, mobile payment options, and interactive digital menus. Explore the use of social media marketing tools to target specific demographics and engage with potential customers. Leverage technology to gather customer feedback and tailor offerings to their preferences. Consumer Experience: Creating Unforgettable Moments Gen Z is not just looking for a meal; they seek memorable dining experiences that go beyond the food. Create an atmosphere that is inviting, trendy, and Instagram-worthy. Consider incorporating interactive elements, such as live music or cooking demonstrations, to keep customers engaged. Offer unique menu items that cater to their dietary preferences and values, such as plant-based options or locally sourced ingredients. Host events and workshops that align with their interests, such as cooking classes or sustainability seminars. Bridging the Gap: Combining Branding, Technology, and Experience The key to successful restaurant marketing lies in seamlessly integrating branding, technology, and consumer experience. A cohesive brand identity should be evident across all digital platforms, physical spaces, and customer interactions. Technology should be used to enhance the overall experience, not replace it. And every aspect of the dining experience should contribute to building a loyal customer base. Visit http://www.savor.fm/ for more podcasts like this Follow on X: https://twitter.com/savor_fm