The Restaurant Report Savor.fm

🫶 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.

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.





Executive Summary



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...

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 behaviorsThe declining consumer sentiment towards dining out and its impact on the industryHow loyalty programs can be leveraged to attract and retain Gen Z customersBest practices for creating personalized and engaging loyalty experiencesThe role of technology and data in driving successful loyalty programsWhether 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.

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.

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!

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.