restaurant pricing

Article archives from the Pricing Pricing Society

Restaurants are Fighting Inflation and Raising Profits with a Secret Weapon

Determining a pricing strategy can be overwhelming, especially in an era of inflation and uncertainty in the macroeconomy. This has been especially true in the restaurant industry. In 2023, restaurants have faced a slew of challenges, from slower foot traffic to higher supply costs. However, some restaurants are defying expectations and actually earning healthy profits by harnessing the power of pricing analytics. With steady guidance, restaurant chains can use pricing analytics to distill the deluge of information into actionable insights and higher profits, as the author explains.

By |2023-12-20T21:25:42+00:00December 22, 2023|Inflation Pricing, Pricing Articles, Restaurant Pricing|0 Comments

Restaurant cost and price increases: The value of digital and loyalty initiatives

Most restaurants anticipate being affected by recession and cost increases over the next year. How can brands continue to drive growth with price differentiation and digital & loyalty initiatives? Although specific to the restaurant industry, this article offers insights for pricing in the currently challenging global economy that can be applied across numerous industries.

By |2023-11-17T21:44:59+00:00November 30, 2023|Pricing Articles, Restaurant Pricing|0 Comments

Make Pricing Your Ally: How to Put Value Back on the Menu

When building a high impact pricing strategy for a restaurant business, the goal is to optimize overall long-term profitability. The right pricing strategy, backed with the right model, increases overall returns by improving the complex interplay between guest count, menu design, and ticket size, as the author explains. Although focused on the restaurant industry, this article provides pricing strategy and best-practices that can be employed by pricers in multiple retail, consumer goods, and related industry sectors.

Menu Prices Must Increase This Spring, But By How Much?

Brands in the food services industry have been losing margins because of the increasing cost of labor, transportation, and food, as well as COVID reduced traffic, which is why pricing is more relevant than ever. Many large, multi-unit restaurant brands procrastinate on pricing out of fear that an increase will be detrimental. This mindset creates a state of inaction, which is a mistake because pricing is actually the biggest lever in terms of maximizing a brand’s profitability, as the author explains.

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