SIMPLE, RELIABLE AND INNOVATIVE BENCHMARKING FOR RESTAURANTS GLOBALLY
REMS Market share provides the information used by the next generation of revenue optimisers.
PRODUCT SET UP
REMS is available to all venues that can:
- Track daily revenue sales and daily covers sold.
- Track inventory usage.
- Track hours of operations.
No matter your food type, restaurant size, location or price. REMS is available for you.
Contact us, and we will take care of the rest.
We will create your account and gather the following information from each venue.
- Restaurant type.
- Take Away available.
- Bar available.
- Terrace available.
- Private space available.
- Price range.
- Hours of operations by day of the week.
- Restaurant size.
*Groups with more than one venue must complete the profile setup for each restaurant.
DATA SUBMISSION GUIDELINES AND DATA QUALITY
REMS connects automatically to your table management system to capture all the data we need to run your reports.
If we still need to build the integration into your reservation system, you can manually input data in our data entry portal.
In the case of manual data input, REMS Market Share needs data for each day of the week. We recommend submitting your data daily, but you can create your own submission schedule based on your preferences. We only ask that all data from the previous week be submitted by Tuesday 1 a.m. (GMT). This is so we can consolidate all the market data and create our weekly report.
REMS will consolidate all the submitted data on Tuesday at noon. It will then crunch the numbers and have your weekly report ready on Wednesday, when you will receive a notification.
Data can be overwritten as many times as required before the final submission on Tuesday at 1 a.m. (GMT).
Any changes in data after that period must be communicated to us as soon as it is noticed by sending an email to firstname.lastname@example.org with the correct figures.
If you change your hours of operations or restaurant capacity, this will impact only future dates. The historical figures will remain the same as they were.
In REMS, we are committed to your data protection and will never share your individual data with any of your competitors. REMS will always aggregate your data with other venues' data before sharing it so your individual performance can't be identified.
If you feel your data looks incorrect, please contact us at email@example.com and we will investigate it. We have implemented data quality checks in place to spot data anomalies but mistakes can happen.
REMS has integrated with OpenTable and is currently able to access your data through the sync API with your prior permission.
What data can we access from OpenTable?
- The total number of covers marked as "finished"
- Total revenue, if the EPOS is linked to Guest Centre.
- If EPOS is not available, users can input revenue manually.
COMPETITIVE SET GUIDELINES
A competitive set is a group of restaurants that directly competes with your restaurant. This can be due to similar size, pricing, location, or type of restaurant.
A competitive set must include a minimum of three participating venues (excluding the subject restaurant). All venues must be able to submit data and belong to a minimum of two different groups.
Charges are only applied once your competitor set is complete. A minimum of 3 competitors are required (excluding the subject property) and they must be available in our database. Those competitors may not be your primary choice but will be considered as your competitors as long as they share a similar price range, are within walking distance and have a similar number of covers.
If your preferred restaurants are not available in our database, please contact us and our sales team can seek to onboard them.
We will only provide competitive analysis reports if a minimum of three restaurants plus the subject restaurant submits data consistently. We have strict data checks in place to ensure data quality remains a priority for all our restaurants.
If the submission of incorrect data is noticed, we will contact the restaurant and ask for correct data to be submitted.
If you notice data that appears to be incorrect please contact us at firstname.lastname@example.org
You can change your competitive set up to 3 times per year*. To ensure that your strategy is consistent, we do not recommend more than two competative set changes per year.
To ensure we maintain the confidentiality of your data, the following rules are applicable when you want to apply changes to your competitive set (rule of change):
- Changes in the set must involve a minimum of 2 restaurants that are submitting data consistently*. This is to ensure data for a single restaurant is not exposed.
- A minimum of two competitors can be added, remove or replace at any time.
If a non-consistent restaurant wants to be removed from the set, a minimum of 2 other consistent restaurants need to be removed.
*If a restaurant in your competitive set does not submit data continuously, you will be entitled to change it without using your yearly allowance.
*A consistent restaurant is the one that has submitted consecutive daily data for the last 2 weeks.
This might happen If you do not have enough restaurants in your competitive set submitting data (minimum of three restaurants) and consequently your data is blank. We will get in touch with the restaurants that are not submitting data. We are actively asking our participating restaurants to submit data.
If the situation continues for 2 weeks, the restaurant not submitting data might be removed from your competitive set and replaced by another one (following the rule of change).
We will provide you with different admin rights when you login into our platform.
Only users with super-user access will be able to request a change in the competitive set.
RESTAURANT CAPACITY AND DATA TRACKING GUIDELINES
Restaurant capacity refers to all inventory that can be sold during the opening hours when guests can consume food and drinks.
Here's how you can calculate your restaurant capacity:
For example, if your restaurant has 60 covers in the main restaurant, 10 covers in the terrace, 10 covers in the bar, and 20 covers in a private room, and you can serve substantial food in all those spaces, regardless of how they are sold (online or walk-ins), you will need to submit 100 covers as your restaurant capacity.
You can amend your capacity on a daily basis at the same time you input your financial results and your hours of operation.
We will give you the opportunity to update your restaurant capacity daily if you need to.
All your inventory must be added to your total cover capacity as long at it can be sold at some point during of the day.