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THE LINE IN THE SAND WITH RESTAURANT PRICING

Culinary Cues

Restaurants get hit from all angles so when there is a chance to push the envelope on pricing – many do. Of course, there is a handful of masterful chefs and restaurateurs who can charge crazy prices to sold out audiences. How do we continue to market wines at $20 a glass or cocktails in the same price category?

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Will Dynamic Pricing Hit the Menus?

Wasserstrom

The restaurant industry is abuzz with a concept borrowed from other sectors: dynamic pricing. This strategy involves adjusting menu prices based on factors like time of day, customer demand, and even weather. Dynamic Pricing in the News […] The post Will Dynamic Pricing Hit the Menus?

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Mitigating Cost Price Inflation Via Supplier Management

Hot Schedules

Mitigating Cost Price Inflation Via Supplier Management. T echnology alone can’t affect the causes of cost price inflation. These allow them to set fixed pricing agreements, such as guaranteed prices for an item over a given period irrespective of market fluctuations, or rebates once certain order quantities have been met.

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Why Prices on Grubhub Just Skyrocketed

ChowNow

While customers might initially be delighted by the array of choices they have, the prices will leave them shocked and disappointed. In fact, for nine out of every ten of these newly added restaurants, customers are paying higher prices and having lower quality experiences.

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DON’T NICKEL AND DIME YOUR GUEST or IMPRESS THEM WITH QUANTITY

Culinary Cues

There’s a reactionary movement that I keep seeing in restaurants; a movement that assumes the answer to the restaurant bottom line is to take more and give less or give too much to justify raising prices. A menu should thus be designed and priced to make those items seem essential.

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EYES WIDE OPEN, EYES WIDE SHUT

Culinary Cues

Reactionary approaches involve increasing rates of pay, dumbing down menus, reducing hours of operation or levels of service to limit the number of employees needed, raising prices to compensate for higher rates of pay, reducing portion sizes while raising prices, or even looking at automation and technology to “right the ship.”

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CHARGING FOR BREAD -SERIOUSLY?

Culinary Cues

Shrinkflation” is a descriptor for reducing the size of packaged goods while either keeping selling prices where they were or raising prices while portions are being reduced. Grocery stores try to eliminate cashier positions (yes, I know how hard it is to find help) and opt for self-check-out but do so without lowering prices.