Are you ready for higher menu prices?
The conversations inside restaurants are not ‘if‘ but ‘how much‘ to raise menu prices to accommodate the increase in wages post-COVID. Price hikes are a sure-thing. Are consumers okay with this?
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Higher Wages, Higher Menu Prices: Realities of a Post-COVID Restaurant World
BTIG analyst Peter Saleh prescribed to a popular narrative. That an industry-wide labor shortage is the result of high unemployment income, and people electing to wait out extended benefits instead of getting back to work. But he wanted to be sure. So Saleh surveyed 300 unemployed people and asked…