The Harris Poll’s Post

As fast food prices surge, are sit-down chain restaurants becoming the better value? With the price gap narrowing, you might find yourself getting more bang for your buck at places like Applebee's or Chili's compared to fast food joints. Personally, I prefer the sit-down experience, and it's fascinating to see arguably better products becoming more competitive. What about you? Would you choose a quick casual restaurant over a fast food chain for just a couple of dollars more? Share your thoughts! #RestaurantTrends #FoodIndustry #ValueForMoney #ConsumerChoices

21 Days Challenge of Marketing Terms 🚀 Day 20 𝗤𝗦𝗥:- In marketing, QSR stands for 𝗤𝘂𝗶𝗰𝗸 𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗥𝗲𝘀𝘁𝗮𝘂𝗿𝗮𝗻𝘁. It refers to a category of restaurants that prioritize speed of service and convenience. Commonly known as fast-food restaurants, QSRs are characterized by limited menus, standardized food preparation methods, and affordable pricing. 𝗞𝗲𝘆 𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀 𝗼𝗳 𝗤𝗦𝗥𝘀: 1. 𝗦𝗽𝗲𝗲𝗱: Meals are prepared and served quickly. 2. 𝗖𝗼𝗻𝘃𝗲𝗻𝗶𝗲𝗻𝗰𝗲: Locations are often easily accessible, with options like drive-thrus, delivery, and takeaway. 3. 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱𝗶𝘇𝗮𝘁𝗶𝗼𝗻: Menu items and recipes are consistent across locations. 4. 𝗔𝗳𝗳𝗼𝗿𝗱𝗮𝗯𝗹𝗲 𝗣𝗿𝗶𝗰𝗶𝗻𝗴: Meals are budget-friendly to attract a wide customer base. 5. 𝗛𝗶𝗴𝗵 𝗩𝗼𝗹𝘂𝗺𝗲: QSRs focus on serving a large number of customers in a short period. Stay tuned for the rest of the days! #QuickService #QSRMarketing #QuickBites #GrabAndGo #FoodOnTheGo #FastFoodie

On average fast food prices im the U.S.increased by 67% since 2014, with McDonalds prices doubled, decreasing foot traffic and same store revenues as a consequence. For sure Fast Food is not only unhealthy and no longer a cheap dining option, when it costs 55 USD to feed a family of 4 at lunch.

If no one wants to buy this #junkfood for 15$ or 10$ then why try to sell it for 5$? It is still J-U-N-K. A better plan is to turn #fastfood into #fairlyquickfood that is innovative. The sloppy joe-diner-sweet potato pie-malt drink zeitgeist simply does not exist anymore. It's not a magic number that these empires should be searching for- with continually dropping revenues the message is clear: it is time to search for a new a magic menu.

If your restaurant's profitability is low, odds are the low-hanging fruits of this widespread concern lie in two places: 1) Food usage- The variance between what the restaurant SHOULD be using vs. what they are ACTUALLY using. Our experience is that the variance is between 10-20% with the restaurants that we worked with. Many restaurants think they don't have this issue until we isolate the $ leakage and its causes. - Research show that 72% of #restaurants report problems adhering to recipes. 2) Food and OPEX pricing- You need to tap into the manufacturers for bigger savings and get into a contract with your distributor to fix the mark-ups. -The National Restaurant Association reports that restaurants that work with GPOs save an average of 15% on their purchases. Our experience at Accross Restaurant Consulting Services is consistent with the NRA's number. Contact us for a free consultation if you want to save 15%-20% overall in your food and OPEX costs.

The summer of food #deals has a magic number with the $5 value meal, the fast-food industry's latest push to bring consumers back. Restaurant chains, including McDonald's, Burger King and Starbucks, are promoting affordability with new promotions as consumers trade down to eat at home. Learn more in my latest story for Axios. Are these new deals making you crave fast food? Share your thoughts below. 🍔

Fast-Flation: Fast Food Restaurant Prices Surge, Even as Inflation Wanes Historically, fast food has been considered one of the most budget-friendly options outside of cooking at home. But a steady trickle of fast-flation over the past decade has been eroding that value proposition. In response to growing dissatisfaction among fast foodies, Finance Buzz conducted a study analyzing menu price data across twelve top fast-food chains between 2014 and 2024. Findings revealed that most restaurants raised prices by 60% on average during the time period, and five — McDonald’s, Popeyes, Taco Bell, Chipotle, and Jimmy John’s — did so at more than double the actual inflation rate. The cost of goods has risen 31% since 2014, according to the Bureau of Labor Statistics. Much of this change has happened in the last 5 years — inflation is up 22% since 2019. Noteworthy Pockets of Moderation Chains like Subway have kept price increases in line with inflation over the past ten years. Burger King also received honorable mention, with the average cost for menu items rising by “just” 55% in that same time. - The Food Institute Alexandra Esquivel-Murphy Joseph Esquivel-Murphy Don Ullmann

Are rising food costs eating into your restaurant’s profits? You’re not alone—managing food expenses has become one of the biggest challenges for restaurant owners. With prices continuing to climb, it’s harder than ever to strike the right balance between controlling costs and maintaining the quality your customers expect. In today’s environment, keeping your restaurant profitable requires a smart approach to food cost management. The key is knowing where to make adjustments without sacrificing the dining experience. Here are five proven strategies to help you reduce food costs and boost your bottom line: ✅ Track expenses accurately – Regularly monitor your cost of goods sold (COGS) and keep a close eye on inventory. Knowing exactly where your money is going helps you stay in control of spending. ✅ Reduce food waste – Simple changes like better portion control, using older stock first, and training staff on proper food handling can significantly cut down on waste. ✅ Negotiate with suppliers – Build strong relationships with suppliers and regularly review your contracts. This can help you secure better prices and terms to manage costs more effectively. ✅ Optimize your menu – Focus on high-margin items, remove underperforming dishes, and consider incorporating seasonal ingredients to lower overall food costs. ✅ Implement portion control – Consistent portion sizes help prevent waste while ensuring customers get the same quality experience every time. Running a restaurant is no easy task, but managing food costs efficiently can make a big difference in your overall profitability. By focusing on these key strategies, you can keep costs down without compromising the quality that keeps your customers coming back. What’s been the most effective strategy you’ve used to manage food costs in your restaurant? #CostControl #RestaurantIndustry #FinancialManagement #RestaurantManagement #Profitability

If your restaurant's profitability is low, odds are the low-hanging fruits of this widespread concern lie in two places: 1) Food usage- The variance between what the restaurant SHOULD be using vs. what they are ACTUALLY using. Our experience is that the variance is between 10-20% with the restaurants that we worked with. Many restaurants think they don't have this issue until we isolate the $ leakage and its causes. - Research show that 72% of hashtag #restaurants report problems adhering to recipes. 2) Food and OPEX pricing- You need to tap into the manufacturers for bigger savings and get into a contract with your distributor to fix the mark-ups. -The National Restaurant Association reports that restaurants that work with GPOs save an average of 15% on their purchases. Our experience at Accross Restaurant Consulting Services is consistent with the NRA's number. Contact us for a free consultation if you want to save 15%-20% overall in your food and OPEX costs.

Consumer spending in restaurants plateaued in recent months, which mirrored the gradual slowdown in the overall economy. Eating and drinking places registered total sales of $94.5B on a seasonally adjusted basis in August. That was essentially unchanged from the volumes posted in each of the prior four months. The recent slowdown in restaurant sales growth was not due to a lack of interest among consumers. 42% of adults say they are not going out to restaurants as often as they would like, while 38% say they are not ordering takeout or delivery from restaurants as often as they would like. For more research and data, see the latest National Restaurant Association's Restaurant Economic Insights for September: https://lnkd.in/eTgGReFv.