Paul's 2023 Predictions
What came true?
In an episode in 2022, Paul had predicted five key things that would come true in 2023. Let’s take a dive into what’s happened in 2023.
Customer Satisfaction Will Be Main Focus
The landscape of restaurant customer service underwent notable changes from 2022 to 2023. In 2022, the industry was still grappling with the aftermath of the pandemic, emphasizing contactless services, digital menus, and a strong focus on takeout and delivery options. There was a clear priority on safety and convenience, with many establishments operating with reduced staff and limited seating capacity. However, 2023 witnessed a significant shift towards a more personalized and experiential service. With the easing of pandemic-related restrictions, restaurants began to reinvent their dining experiences, focusing on high-quality, face-to-face customer interactions, and a resurgence of traditional dining elements like table service and in-house specials. Technology, while still a key component, transitioned to enhancing the customer experience through augmented reality menus and AI-driven personalization. The emphasis in 2023 was on creating memorable dining experiences, rooted in exceptional service, a stark contrast to the efficiency and safety-centric approach of 2022.
Blockchain Will Change How We Communicate and Interact with Customers
Loyalty and Rewards Programs
Blockchains allow restaurants to offer robust loyalty and rewards programs without costly third parties. Customers can accumulate and trade loyalty points via blockchain-based apps and wallets. This reduces costs for restaurants while improving the customer experience.
McDonald’s has been testing the waters for years and as of late has seen some success.
These Four Brands Will Break-Out
1. Sweetfin
The Los Angeles-based poke chain Sweetfin has leveraged influencer collaborations to drive brand awareness and distinguish itself in a crowded market. With nearly 20 locations across Southern California, Sweetfin has teamed up with celebrity chefs and social media stars like H Woo (1.3 million TikTok followers) on limited-time menu offerings. As co-founder Seth Cohen discussed, these partnerships continue fueling their image as a lifestyle brand embraced by South Californians. More than just an advertising play, the influencer-powered promotions help Sweetfin form deeper connections with customers amid poke's fading fad status. Though the poke bubble has burst, Sweetfin aims to sustain relevance through innovative partnerships that align with its identity and community. The collaborations reinforce Sweetfin as a culturally-tuned brand on the cutting edge even as the overall category cools off.
https://www.sweetfin.com
2. Big Chicken
Big Chicken’s focus on delivering a special combination of comfort and quality continues powering interest and site selection. People are turning more toward the reassurance of craveable classics right now, positioning Big Chicken for long-term gains once external friction impacting quicker growth subsides. For a category uniquely suited to the moment, ominous market indicators seem unable to stall Big Chicken's rise.
3. Rooster and Rice
“Most restaurant brands grow because they have an explosively popular offering or an air-tight operational model that makes them easy and inexpensive to scale. Rooster and Rice is one of very few brands that has both,” explains Lew in a written statement, also adding that the combination has “allowed us to grow rapidly throughout the Bay Area, and we’re finding increasing demand from neighboring markets.”
https://www.roosterandrice.com
4. Chicken and Cone
The success of Chick'nCone can be largely attributed to its straightforward and appealing menu. While the iconic Chick’nCone remains the star attraction, the simplicity of the menu, featuring a few well-crafted items, has played a significant role in its popularity. Alongside the famous Chick’nCone, the menu offers a Chick’nSandwich, Chick’nTenders, and a Chick’nBowl, which is a delightful combination of fries, mac and cheese, chopped Chick’nTenders, and a choice of sauce. This concise selection makes decision-making easier for customers and ensures consistent quality across all items. The inclusion of savory sides like Cajun fries, Cajun corn, and mac and cheese complements the main dishes perfectly. The menu is rounded off with unique milkshakes sprinkled with waffle cone bits, adding a sweet finale to the meal. This streamlined menu approach, focusing on a few specialty items, has been a key factor in the brand's success, offering a memorable and satisfying dining experience.
A Decline in Sentiment Around Alternative Proteins
The booming alternative protein arena continues widening as companies explore diverse production methods and novel ingredients, spinning creative fakes that resemble everything from burgers to steaks. But this white-hot innovation engine has shown cracks amid severe economic pressure. While meat analogues exceeded all projections during their meteoric rise, drastic changes in consumer spending could significantly slow momentum. Brands now face tough questions about price sensitivity as shoppers weigh their meatless options more critically. Can superior taste, texture gains, and sustainability cred keep increasingly cautious customers reaching for futuristic replacements over traditional favorites? Having survived solely on their novelty, next-gen meat producers must focus more seriously on the core barriers that still limit mass appeal if the category is ever to become more than a luxury for the eco-conscious. For lab-grown visionaries, the race is on to make price parity an urgent priority before inflation permanently hobbles mainstream adoption.
Shifts Away From Third-Party Delivery
In an April 2023 survey, American adults were questioned about their current frequency of dining out at restaurants compared to six months earlier. Across various types of restaurants, the majority indicated that they now eat out less frequently than they did six months ago. Among full-service restaurants, only 13 percent of respondents reported an increase in dining out, marking the lowest percentage in this category. On the other hand, fast food establishments recorded the highest percentage, with 17 percent of respondents stating they dined out more often in these venues.
