The recent uproar over a McDonald’s in Darien, Connecticut, that charged a whopping $17.59 for a Big Mac combo meal is more than just local news; it’s a snapshot of the changing economic landscape.
Regardless of when costs come down, consumer behavior has been altered and shoppers will continue to look for the best savings in 2024.
Looking ahead, Zimmerman noted that prices would likely increase in the new year, but the magnitude of that increase would likely be more subtle in 2024.
Monolithic allegiance has given way to the brands and companies that can provide the best, most convenient, and value-driven experiences, making every consumer a seven-headed hydra.
Inflation in Great Britain cooled significantly last month but still remains hot compared to other major western economies including the United States. Inflation in Britain cooled to 4.6% last month, compared to 3.2% in the …
In a telling report from Qualtrics, 28% of Gen Z and millennials say student loan repayments will make the holidays unaffordable this year.
Food manufacturers have seen their profits fall in the past year, forcing them to pass along increases for raw materials, energy, transportation, and packaging.
Demand for instant noodles jumped 2.6% globally to a record high of 121.2 billion servings last year, according to the World Instant Noodles Association, and 2023 marked the seventh consecutive year of instant noodle growth and consumption.
E-commerce has not only failed to kill the great American retail experience but is helping it thrive as sales associates and vendors large and small are using the omnichannel to attract customers, enhance sales, and reduce customer acquisition costs.
QSR jobs will be in high demand once the law passes as workers try to reduce their dining expenses in lieu of high food costs and an inflationary environment. More importantly, however, California just bolstered the prospects of hundreds of thousands of current and (more importantly) future fast-food workers.
This fall, candy manufacturers are faced with a frightening reality: many shoppers are planning to ease back on Halloween-related purchases. A new Halloween Spending Trends report revealed 73% of Americans said their shopping for the …
Despite major restaurant chains enjoying increased spending from consumers, a spate of closures have hit smaller restaurants.
The average family back-to-school spend is $890.07, driven largely by the cost of electronics.
The term “sugarflation” could soon become part of the global lexicon. Everything from candy and soft drinks to baked goods are likely to become more expensive in the second half of 2023 – sugar prices …
It’s unusual for a retailer to make it more difficult for consumers to shop at its stores. But membership fees are the key to Costco’s business. In fiscal 2022 (ending August 28), membership fees accounted for 54% of the company’s operating profit; the figure has risen to 58% in the first three quarters of fiscal 2023.
A new survey offers insight into Americans’ current challenges when trying to maintain access to healthy food. While most people are well aware of the importance of eating healthy food in 2023, recent findings from …
With some financial experts predicting a fairly significant downturn soon, here’s advice for recession-proofing your business.
Impossible Foods recently laid off 20% of its employees. Is this the beginning of the end for alt-meat?
Chicken wings are cheap and beer is expensive. Amid inflation, brands need an omnichannel approach to reach consumers, especially as it relates to snacking.
Fed cattle prices are expected to range from $150 to $172 per hundredweight, averaging $158 for the year, up $14 from last year.
Now that Walmart has joined Target and Costco by raising their minimum pay to about double the federal rate of $7.25 an hour, fast-food outlets may have to consider boosting their minimum to $20 to …
Consumers could be getting a break with companies like Conagra Brands, maker of Hunt’s ketchup and other popular packaged groceries, pulling back on price hikes following last year’s worst inflation in four decades. In its …
Though experts still are split on whether the U.S. Federal Reserve’s inflation-fighting moves will plunge the economy into a recession, consumers apparently aren’t waiting for the official figures, already trimming their grocery bills and choice …
CEOs and other C-suite executives see slow growth and digital innovation ahead, the Conference Board 2023 C-Suite Outlook found. Some 1,131 C-suite executives responded to the board’s annual survey. Projected economic growth is expected to …
Costco CFO Richard Galanti reveals the formula for Costco’s lofty customer service score: keeping members happy, especially during inflation.
Consumers who want to save money on groceries are turning to coupons, loyalty programs, and rewards while cutting back on snacks, a survey by Seattle retail technology platform Swiftly indicates. The online True Cost of …
Due to the current inflationary environment, and with fears of a looming recession, analysis shows consumers are trading down in their spending, looking at less expensive brands and going for deals.
Despite recession fears, consumers were in a spending mood to kick off the holiday season, breaking Black Friday and Cyber Monday sales records.
The coming year could be a turbulent one as grocers navigate economic uncertainty while also benefiting from shoppers’ return to stores in a post-pandemic environment.
While worries over inflation and the economy take precedent for a leading percentage of consumers, a sizable number are approaching the holiday season with a desire to live sustainable lives or have rewarding experiences.
THC is one of the fastest growing ingredients in foodservice, increasingly legal, and visible amid a key demo—the millennials.
The common wisdom is that it’s cheaper to eat a home-cooked meal than to dine out or order in, but with dining-out prices increasing at a slower rate than grocery prices, that old adage may …
The Food Institute spoke with food industry executives to determine their strategies to withstand a coming recession.
According to a new survey, on average, consumers spend $13 per order on so-called “hidden” delivery fees. Despite such fees, young adults seem willing to pay.
The effects of the COVID pandemic, continuing labor shortages and higher transportation costs, as well as drought and outbreaks of avian influenza, will impact Thanksgiving spending, sending turkey prices up more than 70% compared with …
Inflation is hitting Americans hard and is causing most to cut back everyday items. A recent survey from Attest proves that food and beverages are not immune to necessary cutbacks. Dr. Lin Carson, CEO of …
