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Blog
Cheers! Drink Prices Rising
October 22, 2009
Conventional holds that now is not the time for restaurants to raise prices. See my last blog post. But, in fact, menu prices have been climbing, if stealthily, according to Boston-based Intellaprice. Particularly drink prices, which have risen 2 percent in 2009.
Says Intellaprice President Leslie Kerr: "This year, food prices overall are down 0.6 percent and bar beverage prices are up nearly 2 percent. That’s compared to our 2008 finding that food prices were up 2 percent overall and bar beverages were up 5 percent vs. 2007."
Prices are climbing.
Kerr's group released a study in July showing average drink prices at casual dining chain in various cities. I selected Chicago, if only because Chain Leader is headquartered there and its staff likes a cocktail or two after laboring all day long:
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Posted by David Farkas on October 22, 2009 | Comments (1)
Reader Comments
at 10/23/2009 8:29:53 PM, Steve J commented:
Conventional wisdom has not served many legacy restaurant companies well over the past few years. One could point to Brinker who stated this week” customer traffic fell for the 21st consecutive quarter” or even look at the results of conventional wisdom follower lack luster legacy chain Darden as examples. However success leaves clues and in 20 years conventional wisdom will speak highly of companies gaining marketshare, top line revenue and bottom line progress the likes of Chipotle Mexican Grill and Buffalo Wild Wings.
What conventional wisdom is telling us today is: What is out is a style of management mediocrity and compliancy, waiting for the end of the economic turmoil. What is in style in leadership, focus on the customer. Our consumers are not relying on conventional wisdom they are dynamic and on the move. Many sectors of foodservice are booming. Success does leave clues here is one from me: follow the new industry leaders and sector leader and success will follow you! www.grocerants.blogspot.com