Knowing your market, customers and competitors is critical. The amount of revenue in a restaurant or café depends on the quality of marketing that helps to create an effective sales system. Next-generation marketing is adaptive and mobile, like modern communications technology. It has its finger on the pulse of the market and is ready to instantly respond to changes. In the era of information changes happen so quickly that we do not have time to implement yesterday’s perfect plans. The ability to think outside the box and adapt plans to the current situation determine the success of restaurant marketing. What Can I Do to Navigate Menu Price Inflation?

Assessing the situation: rush slowly

50% of the time, it’s enough to review your purchasing prices and assortment. You may be able to find a supplier with a more moderate pricing policy or products that are not inferior in quality to their expensive counterparts. You can buy time before a price hike hits the market.

In addition, you will achieve:

  • Increased guest traffic. Visitors to restaurants and cafes in the same competitive environment, other things being equal (quality of food and service) will go where prices remain the same.
  • The growth of revenue due to increased attendance – the volume of sales “on turnover”.

The stage of price increases: arguments and maneuvers

Increase the cost of dishes gradually. Start with 1-3 popular items in each section of the menu and analyze daily changes in demand for them. Are they ordering as eagerly as before? Increase prices on other items. Demand has dropped? Introduce happy hours and discount days for guests’ favorite treats.

Justify every price increase in the restaurant or cafe. Convince guests to use the same ingredients to maintain the familiar taste and quality of the food, not cheap substitutes. Offer increased bonuses for ordering higher-priced dishes.

Original approaches: don’t be afraid to experiment

Another option for compensating guests is to update the menu with original, inexpensive dishes. As a rule, these are healthy items based on vegetables and fruits. Offer them in addition to more expensive meat and fish dishes. You may have to change your menu structure and formulation a bit. But you can keep a steady stream of visitors and even increase their loyalty. In times of rising prices, people tend to save money themselves. They are grateful to those who help them maintain their usual level of comfort while spending less than expected.