More than FOMO: The Experience Economy
Transactions supersede getting a product for a price. We must embrace “The Experience Economy” as hospitality providers to tap into the emotional context of living in a broader, social-based modern world. Consumerism has evolved to add relevance or even adventure to the transaction. What does that mean for restaurants? The function of food and beverage is no longer enough. As the experience economy has evolved, so must we. Some leaders may think that experience means sparkle
Tiny Changes: Marie Kondo Your Restaurant
If there's anything I've learned from moving into NYC after decades in suburbia, it's how much "stuff" I can live without. While I could go into how many days I counted without having worn clothing with buttons as a man who worked from home, I am proud to say that buttons have made a comeback. I'm more fascinated by what hasn't. We live in a cluttered world. Our mobile phones wake us up every morning, often with a song selected from a cloud of millions. Alerts call attention
AI & the Menu Engineer: Brave New World
Menu Engineering is changing by the minute. For decades, strategists toggled between data sheets to build models upon which to turn hypotheses into results. New players are using AI to connect the dots, project the impact and weigh the risks. I've repeatedly broken out a matrix which took years to fine-tune as a consultant. I organized menu item data including Mix, Price, Cost, Margin, Satisfaction, Reach and Unique SKUs which rolled up to overall financials. Rather than a s
