The Harris Poll’s Post

📝✨Consumer Spending Shifts 📉 Dining Out Less: Consumers are cutting back on fast food to manage budgets, impacting companies like McDonald’s and Starbucks. Financial Advice: Experts applaud the move to prioritize spending, suggesting it could lead to better financial health. Economic Implications: While good for individual savings, this trend may signal economic challenges ahead. Adapting Habits: Amidst rising costs, people are choosing home-cooked meals over dining out, reflecting a shift in consumer behavior. 🍔➡️🏠 #restaurant #qsr #loss

Fast-food” has long been synonymous with “affordable food,” Recent inflationary pressures have shifted this perception. Over the past few years, fast-food restaurants have hiked prices to combat the rising costs of goods and employee wages. Consumers have started to notice, Mcdonalds sales fell 1% over the April-June period compared with a year earlier,  McDonalds UK Boss Chris Kempczinski said the poor results had forced the company into a "comprehensive rethink" of pricing. Taco Bell is bucking the trend with there approach to market and staying ahead of competition in certain audiences. Based on real time, always on tracking of consumers, QuestBrand delivers actionable insights across 15 Global Markets, download our Taco Bell case study to learn more

Fast food--not only alive and kicking but business is booming! #fastfood #diet #health #wellness #fitness #franchises #mcdonalds #culture #medicine But two decades later, not only is McDonald’s bigger than ever, with nearly 42,000 global locations, but fast food in general has boomed. There are now some 40 chains with more than 500 locations in the United States. Fast food is the second-largest private employment sector in the country, after hospitals, and 36 percent of Americans — about 84 million people — eat fast food on any given day. The three major appeals of fast food remain intact: It’s cheap, it’s convenient and people like the way it tastes. The stock price of McDonald’s hit an all-time high in January, and has gone up nearly 1,000 percent since “Super Size Me” came out — nearly twice the return of the S&P 500. In the end, the chains handled the brand crisis with the very tool — their most powerful — that had caused the problem in the first place: marketing. https://lnkd.in/eC6-3rHt

🐔 Does anyone know what’s driving the fried chicken trend in UK foodservice (can I call it a ‘trend‘)? The future was looking strong around 8-10 years ago when I was covering the market at Mintel. But the product’s popularity (and retail equivalents) seems to be going from strength to strength: 🍗 US brand, Dave's Hot Chicken (backed by Drake) is due to open its first UK site in London in December. 🍗 Popeyes Louisiana Kitchen opened its 50th Popeyes Louisiana Chicken UK site earlier this year - a remarkably rapid expansion. 🍗 Waitrose & Partners has just rolled out 12 new and improved breaded chicken lines. Could it be something to do with any/all of these (pure speculation)? 💷 The Cost of Living crisis means more affordable meals out naturally do well. The Lipstick Effect? (Or sort of: can fried chicken properly be described as an ‘affordable luxury‘?) 🥗 Health messages around white meat being healthier overall are filtering through (ironically, despite many products being fried in oil). 📈 The past few years have seen huge political and socio-economic change in the UK (inflation/Covid-19/change of prime ministers & government). KFC UK & Ireland‘s most recent ATL campaign touched on this theme, positing the brand‘s predictability in an unpredictable world. Against this backdrop, warm, fried, gently spiced chicken is inherently comforting (not sure the science stacks this one up?!) I’d love to hear from anyone who really knows... Or has any thoughts or pointers to further research? Danny Butt? Kate Wall? Charles Spence? Joe Lutrario? Links to above news pieces in the comments below. #friedchicken #qsr #foodservicetrends Photo by Karlo King on Unsplash (showing a tray of fried chicken)

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🍽️ Attention #Restaurant Owners! 🍽️ Part 1   Facing challenges in today's ever-evolving food industry landscape? You're not alone. Here are some key insights to help you navigate these turbulent times:   Adapting to Changing Consumer Habits: Did you know consumers are now allocating a whopping 11.3% of their monthly income towards food? That's the highest percentage seen in the U.S. in over three decades! However, consumer traffic is on the decline, with diners making adjustments like skipping appetizers and opting for water over beverages. But fear not, business diners are a beacon of hope, spending on the corporate credit card and keeping your tables turning. By tapping into resources like Dinova, you can capitalize on this trend and safeguard against dwindling margins. #RestaurantIndustry #Adaptation #ConsumerTrends 🚀

Another way Big Grocery is failing us... In this week's News Segment, you'll hear our discussion around Restrictive Covenants, the infuriating way Grocery Stores have been using these clauses over the last century, and the lasting impact they've had to food access across the country. This is a conversation that goes beyond food business with implications for anyone who eats. It is crucial to understand the history behind these restrictive practices and the role they play in limiting access to real food. One thing is clear, Big Grocery needs to be held accountable, and national legislation is needed to create real change. Tune in to hear the whole story at: https://lnkd.in/gCYS-qP4 #thegoodfoodcfo #restrictivecovenants #foodapartheid #anyonewhoeats #eatregional #eatlocal

🍔 🌮 Inflation continues to take a bite out of our pocketbooks but like most things, when the changes are gradual, recognizing the impact is not always easy. Food costs have risen for everyone including fast food restaurants like McDonalds, Taco Bell, and Chick-fil-A. 📈🚀But when you consider the dramatic increase in the costs of some of the most common menu items, it is clear that consumers are definitely bearing a majority of the burden. Since 2019, the cost of a Cheeseburger at McDonalds has risen a staggering 215%, with average increases for the assortment of items listed above rising a total of 141.4%. Chick-fil-A takes the silver medal, with average costs rising 80.1% making Taco Bell seem like a bargain, with costs rising only 57.4%. 💯For more great insights, check out my website🔥 buff.ly/4e0AeWJ #DougGibson #gainin60seconds #financialadvisor #financialplanner #financialadvice #investments #wealthplanner #wealthadvisor #assetstrategy #assetplanning

We totally get why folks are ticked off at Mickey D’s: Over the last 10 years, #inflation has boosted #prices by 31%. But key McDonald’s menu items have soared 100% – the most of any fast-food (by far), says FinanceBuzz. At its 1969 debut, a Big Mac cost 45 cents (or $4.21 in today’s dollars). FinanceBuzz says the current price is $5.99, so the Big Mac’s cost absolutely has outrun inflation. The one thing that hasn’t changed: The Big Mac calorie count – at 590. If THAT number had climbed with inflation from 1969 forward, today’s Big Mac would be packing a Mr. Creosote-satiating 4,150 calories. Clearly not “Wah-fer Thin.” Check out our report.