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Record-Breaking Sales in Restaurant Industry
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Adapting Strategy Amid China's Slowdown
Arby's Breaks into the Top Contender in ...
Brinker International's Brand Shift
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The restaurant industry is projected to earn over $1.1 trillion in 2024, with a projected growth of over 10%. However, higher costs, including food and labor, are expected to constrain profitability. Consumers are increasingly value-conscious and flexible about their dining choices, with a growing emphasis on loyalty and rewards programs. Technology is also becoming a crucial aspect of the industry.
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How do the changing consumer preferences and the growing importance of loyalty and rewards programs affect the restaurant industry's business model?
How might the increased reliance on technology impact the traditional restaurant experience?
What strategies can the restaurant industry employ to address the challenges of higher food and labor costs?
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