As inflation soars, lower-income consumers slow their restaurant spending
The Bottom Line: Quick-service restaurant executives say they’re seeing fewer visits from people with lower incomes and more visits from those with higher incomes. But that difference may not last for long.Restaurant Business Exclusive Content
Financing
Last quarter’s big winner: Higher menu prices
The Bottom Line: Other winners included Potbelly and third-party delivery, while Freshii, quick-service pizza and lower-income consumers were left out.
Financing
For Starbucks, unspent gift cards become a big business
The Bottom Line: As customers returned to Starbucks, revenue from unspent gift cards did, too, providing the coffee giant with a weird and profitable source of funds.
Technology
At a Cleveland CloudKitchens, operators say they were set up to fail
The chefs came to Carnegie Food Hub to grow their businesses. They left discouraged and in the red. It’s part of a pattern at CloudKitchens facilities nationwide.