Restaurants Shrunk Inflation Gap with Grocery Stores, Smallest Difference in 20 Months
Restaurants closed the inflation gap with grocery stores in November, marking the smallest difference since April 2023. Despite some price increases in grocery stores, many consumers are still opting for home-cooked meals to save money. This trend highlights the challenges restaurants face as they balance price hikes with consumer spending habits.
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Some Brands are Undergoing Refreshes or Rebrands to Excite Consumers
Restaurant brands are undergoing redesigns and menu updates to reinvigorate consumer interest amid changing market conditions. Many chains like Smashburger, Perkins, and more are focusing on modernizing their visuals, enhancing customer experiences, and introducing new menu items to drive traffic and engagement.
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Toast Switches from DoorDash to Uber Eats Direct as Default Delivery Partner
Toast has changed its default white-label delivery partner from DoorDash to Uber Eats Direct. This move aims to offer restaurants more control over their delivery operations and enhance customer experience. Toast’s decision is part of a broader effort to improve its platform and streamline delivery services for restaurant clients.
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Restaurant Job Growth Rebounded in November after Lull in October
Restaurant job growth in November 2023 stabilized, with the sector adding 29,000 jobs, reflecting a steady recovery from earlier pandemic-related losses. Despite this, labor shortages continue to challenge the industry, with operators struggling to fill positions amid ongoing competition for workers. The stabilization in job growth suggests that the restaurant workforce is slowly returning to pre-pandemic levels, but challenges remain.
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Los Angeles City Council Approved $30 an Hour by 2028 for Hotel & Airport Restaurant Workers
Hotel and restaurant workers will soon earn a minimum wage of $30 per hour, following new legislation approved by the Los Angeles City Council. This wage increase is part of a broader effort to address labor shortages and provide better compensation in the hospitality and food service sectors. The change is expected to set a new precedent for wages in similar airport and service-related industries.
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