2022 Food Prices Purchasing 
Modern Restaurant Management
DECEMBER 30, 2024
Fast food and food delivery gradually began changing that equation. In 2022, with the introduction of ChatGPT, we saw restaurants – and just about everyother industry – look for ways to incorporate artificial intelligence within their customer operations.
Modern Restaurant Management
NOVEMBER 24, 2021
Restaurants have faced labor shortages, supply and equipment shortages, and climbing food prices, with no past playbook on how to navigate the crisis. To help operators move forward, let’s take a look at some of the challenges the industry has experienced in 2021 and how they can come out on top in 2022 and beyond.
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Modern Restaurant Management
APRIL 5, 2022
According to The Wall Street Journal, food prices are estimated to rise on average five percent in the first half of 2022, while other sources point to a seven-percent increase by the end of the year. This estimate will likely be well under the price jump as fuel costs continue to rise. Increase in Costs.
Modern Restaurant Management
JULY 6, 2022
While 2021 was the year of the comeback for restaurants, 2022 is proving to be a very different story. By decreasing overall disposable income, inflation erodes consumer purchasing power. Effect of Inflation on Consumer Demand. Higher inflation affects restaurant owners, operators and their customers.
Modern Restaurant Management
FEBRUARY 5, 2024
While Asian street foods remain popular, diners discovered and ranked more Korean places to eat like O’Kims (#58) cooking up authentic Korean cuisine in Honolulu. In fact, of the 62 percent of consumers who purchased a gift card for themselves in the previous year, 25 percent indicated doing so for budgeting/money management purposes.
Modern Restaurant Management
AUGUST 10, 2022
Food prices are soaring amidst supply chain disruptions, increasing labor costs, and processing plant shutdowns. Poultry prices are up 15 percent to 18 percent ; the cost of eggs has risen 73 percent. Restaurants must keep innovating to elevate the diner experience. It’s a tough time to be in the restaurant business.
Modern Restaurant Management
JUNE 30, 2023
Own Your Changes In March 2023, restaurants’ food prices were 8.8 percent higher than in March 2022. When adding in the rising cost to attract and retain labor, it’s understandable that restaurants might raise prices to stay afloat. They are expected to increase 6.5 percent this year.
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