- QSR Magazine explores if there will be a recession coming for restaurants. Recent data has only shown a small amount of growth for dine-in restaurants since April 2022. The data has been linked to show that people are spending less of their disposable income on restaurants now compared to last year. While the traffic at dine-in restaurants has decreased with recent inflation, traffic to quick-service restaurants has increased by nearly 20%.
Source: QSR. Read the full article here.
- New York’s beloved Sweet Chick restaurant has shifted its business model for scalability and substantial growth. Sweet Chick used to be a restaurant where you could dine in, relax, and have a nice meal. People would go for the chicken and waffles, but perhaps order the octopus and add a bottle of wine. Sweet Chick has recently rebranded to become fast-casual… and it’s working.
Source: QSR. Read the full article here.
- With the new law in place, companies must be able to demonstrate that the goods that they have purchased have not come from a company that forces labor in western China. According to Supply Chain Dive, “The Uyghur Forced Labor Prevention Act is expected to exacerbate already strained supply chains because 10% of companies globally that do any kind of manufacturing touch the Xinjiang region in some ways, according to estimates.”
Source: Supply Chain Dive. Read the full article here.
