Raydiant, a leading in-location Experience OS for retailers and restaurants, released the findings from its latest report, “Voice of the QSR and Fast Casual Restaurant Owner 2023.” 

The survey, conducted from October 31 to November 15, engaged 201 owners and partners of QSR and fast casual restaurants across the United States. Raydiant’s objective was to gather comprehensive insights into the current state and future outlook of the industry. This initiative reflects Raydiant’s commitment to understanding the evolving dynamics of the restaurant industry, offering data-driven guidance and solutions to restaurant owners navigating the challenges and opportunities of today’s market.

Bobby Marhamat, CEO of Raydiant, commented, “The findings of our latest report reaffirm the dynamic shifts within the QSR and fast casual space. Despite facing challenges like labor shortages and tech integration, these restaurants are innovating and expanding in remarkable ways. It’s evident that the future of dining hinges on adapting to these changes, with a strong emphasis on in-location experiences as a key differentiator”. 

Key Findings: 

  • The biggest challenge restaurants face today is labor shortages. Other top challenges include increased competition and supply chain disruptions.
  • Because of this, two out of three have changed their hiring strategies. New initiatives include offering additional benefits, increasing starting wages or overall salary packages, and implementing flexible work hours
  • The biggest challenge to effective employee communication is finding a time when everyone can meet. Other challenges include limited access to technology among employees and employees not checking or responding to messages in a timely manner
  • 41% believe technology will be a major driving factor in the future. Top tech solutions in use today are online ordering and delivery platforms, point-of-sale (POS) systems, and mobile apps for order and loyalty programs.
  • High upfront costs or investments are the biggest barrier to tech integration. Other barriers include difficulty in training staff and concerns about data security and privacy.
  • 55% feel positively about their overall experience with third-party delivery platforms. Also, to fill delivery orders, 61% are operating a ghost kitchen either exclusively or as part of their traditional space.
  • Expanding to new locations is their top priority for 2024. Other priorities include menu innovation, improving customer experience, and employee training and retention.

To access the full, non-gated report, visit here: https://insights.raydiant.com/restaurant-owner-report-2023