Recent Articles from Industry insights

Coffee Technology: The Growing Role in the Coffee Industry

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 is, worldwide consumption is expected to grow...

The Proven Pricing Strategies Powered By Psychology

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. Many businesses utilize psychological pricing...

10 Beer Trends Your Restaurant Needs To Know

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.

Creating a Prix Fixe Menu - Examples & Tips

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 entice diners to visit.

How To Increase Server Tips

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 Strategies to Increase Average Check Size

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 in particular, average check size.

5 Ways To Identify Slow Moving Inventory

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 may be asking yourself when you’re conducting...

What Is Brand Authenticity & Why Is It Important?

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, this buzzword is here to stay and will only become...

Top 10 Best Retail Industry KPIs

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 are making sales optimization much harder than it...

PSL: Pumpkin Sales Lift?

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 counting!) Instagram posts tagged with #PSL haven’t...

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