BUSINESS: 5 Shocking Truths About Supplier Pricing [Sponsored by Orderly]
They say if you stare at something long enough, eventually it will stare back. That’s definitely how we feel about the supplier pricing data we’ve been looking at... Last month we did a deep dive on supplier pricing data and found five shocking truths about supplier pricing.
DID YOU KNOWS…
This Bud’s Not For You
Is America’s love for Budweiser ending? The beer giant posted third quarter losses, down 5.7% from 2016 and a 0.8% market share in the US. While Bud is blaming Hurricanes Harvey & Irma, VinePair says America’s taste is moving on to “more and better choices” as the craft-beer segment continues to grow.
The Best Restaurant-Themed Halloween Costumes
A Beer So Strong It’s Illegal
Sam Adams recently announced the 10th release of its biennial Utopias, a barrel-aged beer with a whopping 28% alcohol per volume. One of the 13,000 bottles can be yours for just under $200, however, you’ll need to travel out of state to snag a bottle if you live in these 11 states.
COMIN’ AROUND AGAIN [Song]
Why it matters to you: More good news for restaurants and this time it’s related to Millennials.
No doubt, even the word Millennial causes some visceral reaction when you hear it. This consumer class has dominated the industry’s thinking over the past couple of years. We have been told they eschew chain operators, want significant value increases over Baby Boomers, and are too savvy to be marketed to using traditional means.
Well, it turns out one survey gives us some hope that we haven’t lost an entire generation of consumers to a new paradigm of motivations. AlixPartners completed a survey of younger consumers and it delivers several interesting insights.
To start, Millennials are MORE likely than Baby Boomers to favor a chain restaurant. To be fair, those chain spots are fast casual operators like Starbuck’s and Panera, but it still indicates chains need not be fearful of Millennials. Additionally, the survey found that Millennials (and their older counterparts) are planning to dine-out more in the next year than the previous. This coupled with the apparent slowing of sales declines in full-service restaurants means that 2018 might be a more growth filled year for operators across the board. Now might be a good time to make sure you are delivering the best experience you can as your customers may be returning for a visit sooner than you think.
Why it matters to you: Why Twin Peaks should be your role model?
When you think of Twin Peaks restaurants, the first thing that DOESN’T come to mind is their local store marketing and organic fell, right? While the ‘breastaurant’ category has had mixed results over the past few years, Twin Peaks has grown rapidly and sustained themselves. Their approach is guest experience driven and isn’t limited to pretty girls in scant outfits. In an interview with published on FSR Magazine’s website, Marketing Director Destinee Rollins reveals the secret sauce and it’s a perfect primer for any operator that wants to remain relevant.
According to Rollins, their first focus is the local store presence. Their goal is to make any location feel like it’s a part of the existing community. Even more revealing is their position on discounting. They don’t rely on discounting to drive traffic; rather they work on the guest experience to ensure that the elements their guests value are perfected. Rollins said, “from scratch food, beautiful Twin Peaks Girls, ice cold beer, hand-crafted cocktails and sports” are the anchors that hold their stores in the local market. Their results certainly prove that their focus is well laid.