Market Trends

📈 PAR Punchh released its "PAR Punchh Loyalty Trends Report," revealing innovative loyalty program strategies in the restaurant industry. Key findings: loyalty programs drove a 12% increase in loyalty sales from 2022 to 2023, a 5% overall rise in consumer spending, morning sales growth due to office returns, and a 25% loyalty sign-up rate among Gen Z. In-store ordering accounted for nearly 40% of transactions, underscoring the value of omnichannel presence and POS systems. CEO Savneet Singh emphasized the importance of understanding loyalty behaviors for market success. The report is based on data from Punchh's platform, used by over 30% of top 100 restaurant brands.

🍠 Summer squash, including zucchini, pattypan, and chayote, has grown in restaurant menu appearances by 38% over the past four years, now found on 1.4% of U.S. menus. 81% of U.S. consumers recognize summer squash, which stands out for its versatility in various dishes without adding excess moisture, according to Datassential market research.

🍔 Sahib Rana, CEO of Toronto-based Lazeez Shawarma, partnered with Revel Systems to implement a flexible, cloud-based POS across 61 locations, as highlighted at the MURTEC Executive Summit Canada on June 20 & 21 at the Sheraton Centre in Toronto. Established in 2013, Lazeez sought a scalable solution for rapid growth and enhanced guest experience. Revel's platform includes a Kitchen Display System (KDS), which improved efficiency by replacing paper tickets, and a Customer Display System (CDS) to ensure order accuracy and promote specials.

🏠 The Global Wellness Institute valued the wellness tourism sector at $651 billion in 2022, projected to reach $1.4 trillion by 2027. Wellness travellers spend significantly more per trip compared to other sectors. Hotels can capitalize on this growth by offering activities that promote a healthy mind and body without necessarily incurring high costs. Strategies include marketing existing wellness elements like gyms, leveraging local culture, offering food options for various dietary needs, and partnering with fitness and wellness instructors. MasterCard’s report highlighted a 65% increase in spending on experiences from 2019 to 2023, suggesting a shift towards experiential and wellness travel.

🍜 Georgian cuisine from the former Soviet republic is gaining attention in the U.S., distinguished by local meats, cheeses, fresh produce, nuts, spices, and ancient winemaking traditions. Influences span across Ottomans to Russians due to the historic "Silk Road." Notable dishes include satsivi, pkhali, kharcho, nigvziani badrijani, khachapuri, khinkali, and churchkhela. Georgia's population is around 3.7 million, with its food scene expanding notably since 2016 in cities like North Miami Beach, Fla., and Chicago, where restaurants like Kavkaz and Chicago Diplomat Cafe thrive on word-of-mouth and social media promotion. Supra and Tabla in Washington, D.C., offer traditional and contemporary Georgian dishes, emphasizing the cultural "supra" experience of togetherness and hospitality.

Hotels are shifting to a relationship-focused model, utilizing data and mobile technology to provide personalised guest experiences. By integrating systems like PMS, CRM, and POS, and creating Single Guest Profiles, hotels can meet the evolving expectations of various demographics, ensuring tailored services and enhancing guest satisfaction and loyalty.