Every week we comb through the news to find employment trends affecting the hospitality industry so you don’t have to. This week’s hospitality in the news topic: Alexis Ohanian weighs in on if restaurant euphoria will wear off.
In case you missed it, the National Restaurant Association recently held their annual show in Chicago. The Show, which is spread across 4 days, features “expert-led sessions unpacking new industry challenges and opportunities to industry-leading products and solutions for growth,” via their website.
Alexis Ohanian weighs in on restaurant industry disruptions
One of the most anticipated events at the show was the keynote session which featured Alexis Ohanian, co-founder of Reddit and technology entrepreneur/investor. During his keynote he was posed the question, “Will the restaurant euphoria wear off?” What do you think he said?
Before we talk about his answer, let’s first discuss what “restaurant euphoria” means. In this context, this phrase is used to describe the way customers have been flocking to restaurants now that most COVID-related restrictions have been lifted.
Not to mention the fact that we’re only a couple of weeks away from the summer season. Being the biggest travel time of the year likely means restaurants will see more business in the coming months. But once the excitement has died down and the warm weather is done, will the restaurant euphoria wear off?
Will the restaurant euphoria wear off?
According to Alexis Ohanian, the answer is yes. But, it’s not a bad thing.
When the restaurant euphoria dies down, says Ohanian, it’ll leave room to create a better experience for your guests who plan to stick around. You can take this time to answer the ‘why’ – why did they decide to dine out, why did they choose your restaurant over others, why do they see themselves returning?
If you’re feeling unsure about how your restaurant will fare in the next several months, start thinking about how you can address the why. Then take those answers and find a way to integrate them into your business plan to create a better and more memorable experience.
On asking the ‘why’, Ohanian said the following:
“Any restaurant, any dining experience, having been through the terrible time we went through, I really believe will make so many businesses stronger. And always ask the ‘why’.
Is it because they know their favorite game is on and the parents can get a night off from cooking? Or because they want amazing food? Is it because of a deep connection to community? You need to understand the why because technology is going to keep getting better, which means delivering an even better in person experience. It comes back to the experience of the why. Any restauranteur that understands that can be successful.”
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