The options seem endless these days for movie viewing. We’re streaming Netflix on tablets, viewing new releases on-demand via our cable boxes in the living room and watching DVDs we rented at kiosks in our SUVs. So where do movie theaters fit in anymore?The good news for movie theater operators is that consumers are still frequenting theaters, particularly ones that offer an elevated and memorable experience. In our inaugural movie theater industry research, we found that...
Businesses that don’t think reviews on social media matter are making a huge mistake. Users on social media platforms can have an immediate and deleterious impact on the bottom line.Just ask the Starbucks CEO after staff at a Philadelphia store called police on two African American men waiting to meet a friend. The interaction was caught on a smartphone and went viral. What followed was the shutdown of all locations nationwide as a training was conducted for all employees.Or...
For emerging restaurant concepts, scale is the name of the game. Increasing the number of locations is the quickest way to obtaining meaningful additions to revenue; however, the industry is littered with brands that didn’t get it right—chains that grew too much too quickly. There is a delicate balance between growth and instilling processes that ensure quality and consistency at each location. The strongest brands provide the same experience regardless of where the...
Many restaurant chains are claiming their traffic is down because of Millennials' changing dining habits. And it is true that we are becoming a nation of “autonomous customers” who research restaurant reviews and move easily between brands. Another change affecting Millennial restaurant traffic is an increase in food-delivery services (see “Food-delivery services are exploding," October 10, 2017.)However, flying in the face of the assertion that Millennials are the...
If you’ve felt like food-delivery service is exploding, you’re right. According to investment firm Cowen, this trend is expected to continue."All in, we forecast delivery to grow from $43 billion in 2017 to $76 billion in 2022, 12% annually over the next five years," said Cowen chief analyst Andrew Charles. "Our Survey data shows plenty of room for Online to take share." (Thomas Frank, “Home food delivery is surging thanks to ease of online ordering, new study shows,”...
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