Restaurant supply chain co-op SpenDifference has launched the latest survey in its ongoing menu price tracking study program. U.S. chain restaurant leaders are invited to take the 10-question survey. Participants will be entered in a drawing to win a $100 Amazon gift card and will receive a complimentary copy of the findings. All responses will remain confidential.
This is SpenDifference’s fourth survey examining chain menu price strategies. Questions focus on recent changes, as well as plans for the rest of 2014 and 2015. Other topics include strategies chains are using to control costs, along with issues driving menu prices, ranging from food and labor to healthcare costs.
“Business intelligence and data are increasingly critical to chain restaurants’ ability to compete,” says Maryanne Rose, president and CEO. “Today, menu pricing is one of most operators’ biggest challenges. This survey is a very useful tool that helps them devise stratgeies to improve their sales and bottom lines.”
SpenDifference’s last menu price survey, conducted this spring, found that 51 percent of the surveyed restaurants made no price adjustments during the first quarter of the year. However, 93 percent of chains planned to raise prices this year an average of 2.1 percent. “Since then, a number of unanticipated challenges have put even more cost pressures on chains,” says Rose. “At the same time, we know they have been very hesitant to raise prices, so it will be interesting to see if they have finally reached a tipping point.”
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