Data Transparency Puts Restaurant Operators in Control

This year could be a tough one for many restaurant operators. In its 2023 State of the Industry report, the National Restaurant Association found that exactly half of all operators expect to be less profitable as compared with the previous year. While consumers still love restaurants, economic headwinds are forcing many to cut back on discretionary spending, and restaurants are experiencing higher prices across the board for line items that include food, labor, utilities and occupancy. Operators are doing what they can, but rising costs and fewer customers are like a vise with mounting pressure on all sides.

While nearly all restaurants are raising prices, changing menu items and cutting back on other areas to move closer to profitability, these actions raise the question of how decisions are made. No one alive today has previously faced down the unique challenges of a pandemic coupled with inflation, so doubtlessly many operators are making gut decisions based on their own…