Eli Feldman on How Restaurants Must Evolve to Survive
Manage episode 505315702 series 3458371
#106.
Josh sits down with Eli Feldman, founder of Elided Opinions and Shy Bird, to explore the rapidly changing dynamics of restaurant management and hospitality. Feldman shares insights on how restaurants must evolve beyond traditional dining models to survive in today's competitive landscape, emphasizing the critical need to monetize customer attention for higher-margin revenue streams. The conversation covers the transformative impact of technology on operations, from AI-powered customer interactions to data-driven insights that enhance both efficiency and dining experiences.
The discussion examines the fundamental challenges facing the industry, including rising operational costs, declining profitability, and the ongoing debate around delivery services potentially undermining the social essence of dining out. Feldman and Sharkie explore innovative approaches to restaurant economics, including the potential of franchising models and the importance of creating unique, memorable experiences that differentiate establishments in an oversaturated market. They also address how restaurants can leverage technology and data analytics to better understand customer preferences while adapting to shifting consumer behaviors in the post-pandemic hospitality landscape.
Links and resources 📌
Visit meez: https://www.getmeez.com
Follow meez on Instagram: https://www.instagram.com/getmeez
Follow Josh on instagram: @joshlsharkey
Visit Shy Bird: https://www.shybird.com/
Follow Eli: @feldman_eli
Chapters
1. Monetizing Attention in Restaurants (00:00:00)
2. Reframing the Restaurant Concept (00:01:53)
3. Challenges Facing the Restaurant Industry (00:06:01)
4. New High Margin Revenue Streams (00:12:34)
5. Leveraging Technology for Enhanced Experiences (00:23:34)
6. The Homogenization of Restaurants (00:30:04)
7. The Future of Dining Experiences (00:40:39)
120 episodes