Posts filtered by: industry-insights
Why is Technology Important In Coffee Shops? Coffee shops may traditionally have small margins, but one thing is certain: they also have huge demand. Estimated global coffee consumption exceeds 150 million 60 kg bags of beans per year. What’s more...
4 Minute Read
There is extensive research on consumer buying patterns, and how certain pricing methods can influence people’s perception of value. A number of moving parts factor into how people evaluate prices, and much of that decision-making is subconscious....
5 Minute Read
Draft beer can be one of the most profitable drinks in a bar. With profit margins between 75 and 80 percent, you don’t want to sleep on this offering if your brand is in the business of booze.
5 Minute Read
Create A Restaurant Menu That Has a Prix Fixe Option The restaurant industry is notoriously competitive, with slim margins and more consumer choice than ever. To survive, restaurateurs must stay on their toes to develop fresh new ideas and dishes to...
8 Minute Read
Server tips can make up as much as 70% of a food server's income. That means a majority of their income is contingent on the dining experience and behavior of the customer.
4 Minute Read
When pulling reports from your business, there are a number of KPIs (key performance indicators) that can help you better understand your business, set benchmarks, and achieve your overall business goals. In this article, we take a look at one KPI...
4 Minute Read
Slow moving inventory are defined as inventoried items that have had very little customer demand over a given time period. But what constitutes “little” customer demand? And how long of a time period justifies a slow-mover? These are questions you...
3 Minute Read
Marketers like to toss around the word ‘authenticity’ when describing brands. This new buzzword has played a major part in how companies are defining their missions and creating their processes when building a brand. Backed by a number of studies,...
4 Minute Read
If you’re in sales, you understand the importance of collecting and analyzing data. Without key performance indicators (KPIs) — such as monthly sales target, stock turnover rate, average customer spending, and cross-selling rate — retail businesses...
5 Minute Read
The leaves are starting to turn and football season is well underway which can only mean one thing: #PSL season is upon. PSL, an acronym for those in the know for Pumpkin Spice Latte has become synonymous with fall. If the one million (and...
2 Minute Read