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Coffee News Recap, 8 Apr: Coffee prices fall after increasing in 17 consecutive months, ICO drafts new International Coffee Agreement & other stories

Perfect Daily Grind

Fairtrade International announces new Living Income Reference Price for Indonesian coffee producers. The Living Income Reference Price is offered as guidance for companies wanting to pay living wage incomes in their supply chains. Fairtrade launched its first Living Income Reference Price in 2021 for Colombian farmers.

Pricing 119
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14 Types of Retail Pricing Strategies, Plus Helpful Tips

Sling

One of the keys to running a successful business is choosing the right retail price strategy. If you set your price too low, you may have a hard time turning a profit. If you set your price too high, you might lose market share. Retail pricing defined. What goes into choosing the right retail price strategy?

Retail 78
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Menu Engineering: The Science of Optimizing Your Menu to Maximize Profit

7 Shifts

Menu Pricing and 2. A few common tricks to boost popularity of high-profit items are to: Make these items more prominent on your menu, on social media, or on your website. Consider marginally lowering the price on these items to increase popularity without decreasing overall profitability. What to do?

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How to Start a Food Delivery Service for your Business

Lavu

Next, you should invest in reliable technology, such as a user-friendly website or mobile app, to streamline the ordering process for customers. The plan should define the target audience, develop a delivery-specific menu, decide your type of food delivery, and establish a strong online presence through a user-friendly website and mobile app.

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How to Open a Coffee Shop: The Ultimate Guide

7 Shifts

You may discover that your target customers enjoy an afternoon pick-me-up and are sensitive to price. This research will dictate your hours of operation and pricing plans! Reference secondary research studies or create your surveys and questionnaires to send out to a select group of people! Expected menu prices.

License 461
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Seven Restaurant Trends That Will Define 2022

Modern Restaurant Management

Restaurants will also explore delivery options beyond costly third-party partnerships, and hike delivery menu prices to make the channel more lucrative as off-premise demand holds steady. A short menu can slim down the food costs through streamlined inventory management, as well as reduced food waste. Simplified Menus.

2022 216
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Coffee News Recap, 4 Nov: PRF to return to Colombia in 2023, more than a third of UK hospitality businesses at risk of closure due to rising costs & other stories

Perfect Daily Grind

The survey found that that 35% of respondents were expecting to be operating at a loss or face closure by the end of the year, with 96% of businesses also experiencing higher energy costs and 93% facing food price inflation. Fairtrade launches Living Income Reference Price for Ugandan arabica.

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