With inflation increasing food and labor costs, many quick-service restaurants have been forced to raise their menu prices this year.
According to recent research by Fortune Business Insights, the global food service market is expected to reach 5,194.60 billion by 2029 at a CAGR of 10.76%.
Panera is testing AI voice ordering at two of their Rochester, New York locations.
The Chinese province of Sichuan is currently experiencing a major heat wave and drought. Sichuan is a large hub of international manufacturing, so this is especially bad news for the global supply chain.
When BurgerFi added self-service kiosks as a test, their average check size increased by 18.5%. Since this was a smashing success, they have incorporated kiosks throughout their chains
McDonald’s is piloting a new menu item – Chicken Big Mac! This menu item has seen great success in the U.K. during their launch this year and nearly sold out in 10 days.
According to recent research by The NPD Group, lower-income households, which are classified as under $75,000, are eating 89% of meals and snacks at home.
According to a recent report by ResearchAndMarkets, the global freight forwarding market is expected to increase to $191.71 billion this year. By 2026, the market is expected to increase to $220.34 billion at a compound annual growth rate of 3.5%.
Although freight rates declined by almost 2% in July, that doesn’t mean that supply chain issues are fixed.
The China Federation of Logistics and Purchasing has announced that China will be suspending all imports from Australia and New Zealand immediately.