The year 2023 is upon us and presents us with exciting trends! But also with great challenges for restaurants with regard to enormous price increases. Restaurat owners are faced with the balancing act of simultaneously meeting the trends for sustainability and quality while still keeping price increases within a reasonable range for their customers. In this article, we discuss which trends and forecasts can be expected in 2023 and which solutions are available for emerging problems.
Top 3 Restaurant Trends in 2023
New Glocal
Global crisis in recent years has shown us how vulnerable our supply chains can be. This is precisely why the New Glocal trend focuses on sourcing food as regionally as possible. The concept aims to promote sustainability, create transparency in supply chains and focus on regional food production. For restaurateurs, this can mean critically questioning suppliers and changing them if necessary. Conceivable options are, for example, cooperation with local suppliers or switching to fair trade products. The positive side effect: efforts to promote sustainability and fair food are great advertising!
Vegan Recipes
Vegan nutrition itself is of course not really a new trend, but the tendency shows that even non-vegans are trying to give up meat more often. Veganising Recipes is about bringing classic recipes to the table in a vegan way, i.e. without using animal-source foods. Good vegan alternatives can now be found for almost all dishes, e.g. celery cutlets, soy granules instead of minced meat or jackfruit instead of pulled pork. Being creative pays off and guests will appreciate meatless alternatives on the menu.
Regenerative Food System
A regenerative food system is an approach to agriculture and food production that aims to enhance the health of the soil, ecosystems, and communities involved. It focuses on restoring natural processes and cycles, reducing waste and pollution, and increasing biodiversity. The goal is to produce healthy, nutrient-dense food in a way that supports the environment and improves the livelihoods of farmers and communities. Regenerative agriculture includes practices like cover cropping, crop rotation, reduced tillage, and holistic grazing management, which all work together to regenerate the soil and support healthy ecosystems.
How can restaurants survive with constant price increases?
First the Coronavirus, then the staff shortage and now steadily rising prices pose enormous problems for restaurateurs. Exploding energy prices are mainly responsible for the price increases, which lead to an extreme rise in additional costs and make the purchase of food about 15% more expensive on average than in the previous year.
It is clear that the price increases must also be passed on to the customers. However, many restaurateurs shy away from price increases for their services, fearing that guests will then stay away, as their purchasing power has also become lower.
Restaurant owners must now ask themselves how they can set prices to cover costs and at the same time be suitable for customers. There is no patent remedy here because pricing always depends on factors such as location, image and number of visitors.
How restaurant owners are reacting to price increases
At present, the sharp rise in purchase prices means that restaurants have to raise their prices more often than usual. At the same time, efforts are being made to reduce costs. According to surveys, many guests are willing to pay about 5% more for a restaurant visit. However, this does not cover the additional costs for the catering businesses by far. These opportunities exist for restaurant owners to save costs and increase sales:
Digitalisation
• Optimise processes
• Save costs
• Flexible menu changes
Menu Changes
• Check costs
• New recipes
• Review portion sizes
• Change offers
• Reduce Menu Size
Boost Orders
Promotion during slow days
• e.g. email, Instagram, Facebook
Buy local and seasonal
Change side dishes
• Reorder at extra cost
Additional Fees
• Cover charge
• Table charge
Reduce energy costs
• Switch off lighting / fit motion detectors
• Use energy-efficient appliances
• Conserving resources
Use dosing aids
Carry out an inventory
8 clever cost-saving measures for the restaurant trade
At present, the sharp rise in purchase prices means that restaurants have to raise their prices more often than usual. At the same time, efforts are being made to reduce costs. According to surveys, many guests are willing to pay about 5% more for a restaurant visit. However, this does not cover the additional costs for the catering businesses by far. These opportunities exist for restaurant owners to save costs and increase sales:
Are you thinking about how to cut costs in your restaurant or how to adjust prices most cleverly? We have some useful ideas for you to implement here:
1. Reduce discounts:
Limit yourself to a few discounts for loyal customers and only offer those that you can cushion well. Try to use the offers especially in times of low utilisation
2. Promotions:
Through targeted promotions you can reach new customers and offer variety to your regular customers. You can use promotions to your advantage because you are free to set the prices; after all, no comparisons can be made with the competition.
3. Eliminate the cheapest items:
Be radical and remove the cheapest 5 items on your menu. This way, higher priced items move up as the cheapest items and you earn more.
4. Set package prices:
Offer menus or daily specials at a fixed price that fits your calculation. Your customers will hardly notice a price increase.
5. No price increase for the most expensive items:
Avoid to increase the prices of your most expensive dishes, because customers will notice this immediately. Rather, increase the prices of the cheapest and medium-priced items.
6. Increase prices gradually:
Instead of one big price increase, plan several smaller ones. This is less noticeable to customers.
7. Introduce price variations:
Add a new, very low-priced, low-value dish to your menu. Then you can increase the price of other dishes and still offer a cheap alternative.
8. Reduce portions:
Different approach with the same result. In the end, you will have more profit if you keep the prices the same but reduce the cost of goods. Check the returned plates critically, maybe many of your portions are too big anyway?
Conclusion on restaurant trends and price development in 2023
With a good calculation and some adjustments in your restaurant and menu, 2023 can also be a great and successful year. Face the challenges and try new ways. We wish you success and good luck!
