Inflation is on the rise and the competition for consumer dollars is heating up between restaurants and retailers. Here are five insights into how consumers are purchasing their food as prices continue to rise.
QSR customers focused on value in Q1: The common thread in the earnings of Starbucks, McDonald’s, Yum Brands, and Restaurant Brands International is that consumers are feeling jittery.
Operating costs are on the rise, prices are going up, and consumers are pulling back.
Nano-influencers reign on Instagram with a 6.23% engagement rate: TikTok's top influencers, meanwhile, maintain a 4.95% rate.
Discover the dynamic shift toward digital wallets in the US and the UK in the latest podcast episode of "Behind the Numbers: The Banking & Payments Show." Delve into the compelling discourse on how younger generations' move to digital is rendering traditional wallets obsolete. Join host Rob Rubin, our US-based analyst Tyler Van Dyke, and UK-based analyst Carina Perkins as they unravel trends in digital transactions for dining, shopping, and ID verification. In the "For Argument's Sake" section, we dissect the fierce competition for market dominance among industry giants like Apple and Google, established players like PayPal, rising star Paze, and potential disruptors. Tune in for a forward-looking conversation and hit subscribe for the latest insights. Key insights: - Youth-led shift: Analysis reveals a robust trend among younger consumers pivoting to digital wallets for everyday activities, indicating a cultural and technological shift. - Market dominance debate: We uncover the strategic moves by tech titans and emergent challengers vying to capture the largest share of digital wallet users. - Cross-Atlantic perspectives: Insights from US and UK analysts present a diverse view on the adoption of digital wallets, offering a broader understanding of the global digital economy.
The holiday season is a high-traffic time for quick-service restaurants (QSRs). For QSR marketers, adjusting ad strategies to focus closely on optimization and real-time measurement is crucial in order to capitalize on the lucrative, but brief holiday period.
Retailers can learn a lot from quick-service restaurants in delivering a satisfying customer experience. Chipotle leverages first-party data for more personalized and predictive offers, while Sweetgreen experiments with new formats and technologies to provide a more omnichannel experience. Plus, Starbucks has proven that brand loyalty can go a long way even when making changes.
On today's podcast episode, we discuss how Netflix's ad business is coming along; the streaming giant's first live sports broadcast; and its new retail, dining, and live experience destinations. Tune in to the discussion with our analyst Daniel Konstantinovic.
To build loyalty, brands first need to establish a foundation of trust by delivering on the basics. From there, brands can use subscription programs to ramp up purchase frequency and social media to engage with brand advocates. But to keep customers coming back, brands need to be constantly optimizing. Here’s some advice from executives at DoorDash and Taco Bell on how to build brand loyalty and what it takes to retain a loyal customer base.
Peacock expands its reach beyond the home: Exclusive live sports to be shown in commercial venues, diversifying audience and increasing brand visibility.
DoorDash’s grocery business is booming, and Instacart is leaning on advertising to tide it over as its delivery volumes are down. Perhaps taking a cue from both, Uber Eats continues to add non-restaurant delivery partners while also building out its advertising platform.
Domino’s will soon list its menus on Uber Eats and Postmates: The pizza company sees the apps as a means to drive incremental revenues.
It partnered with FreedomPay and Marriott as part of a wider shift to grow volume by focusing on payments for bigger restaurant and hospitality brands.
DoorDash and Uber Eats deliver solid results: That’s thanks to their strong customer retention, which will prove important if the economy worsens.
Economic uncertainty is making it hard for some to keep up: Prolonged inflation, financial stress, and rising debt are making for a challenging environment.
McDonald’s had the most downloaded app of any quick-service restaurant in the US in March, with 3.5 million downloads, about 2 million more than No. 2 Starbucks, according to Apptopia. Taco Bell, Subway, and Domino’s Pizza rounded out the top five.
Retailers struggle to find a balance between growth and sustainability: Efforts to reduce environmental footprints often run counter to the desire to grow sales.
Retailers and restaurants struggle to fill positions: Over 36% of companies said hiring has gotten harder over the past year.
Consumers dislike dynamic pricing: But that hasn’t stopped retailers and restaurants from implementing it to grow profits.
Consumers continue to spend big on restaurants, gym memberships: Despite inflationary pressures, shoppers are willing to invest in affordable luxuries and wellness.