Weekly Roundup – Week of 7.17.23
July 21, 2023
This week’s lineup features the hottest, and coolest, food and beverage-related news stories – curated by our team of strategists and food enthusiasts:
We All Scream For Ice Cream…Pails
Data uncovered by 84.51° revealed that “almost 95% of shoppers are purchasing ice cream in stores this summer with dollar sales for six-quart pails increasing 20% over last year.” Melissa Lobaugh, Insights Director at 84.51° told The Food Institute, “Despite price increases… households are buying pails as a value play, consuming more, and retailers should have assortment to meet the growing pail needs.” Learn how ice cream flavor sales vary by state and how plant-based ice cream fits in the mix. Read Story.
Can Regional Stores Compete With Walmart’s Online Pricing?
According to the e-commerce firm Mercatus, Walmart has a 15% online pricing advantage based on the average price of a large basket of groceries compared to other regional grocers. Walmart’s direct labor cost is half of regional grocers due to advantages in retail media and automation. How can grocers compete? Grocery Dive suggests implementing stronger pricing, fulfillment, and pickup service strategies. Learn More.
Readership Study Shows Higher Menu Prices Have Little Effect on Traffic
From fast-casual venues to full-service chains, one study shows most restaurants have raised their prices by between 5% and 10%. Inflation and higher minimum wage thresholds in some states are the main causes; however, respondents explain they have integrated new menu strategies to offset higher prices. Adding smaller, sharable meals with lower prices allows patrons to order more items and some restaurants started charging for to-go packaging to help control costs. Read More.
GLEAM Helps Under-Recognized Restaurant Leaders
Global Leadership Enhancement & Mentoring Network (GLEAM) was started in 2020 by Sanjiv Razdan, current Coffee Bean and Tea Leaf president, for the purpose of not only helping restaurant and foodservice professionals with skill development but also enlisting established professionals in a mentorship capacity. Razdan is thankful for the guidance he received early on in his career, and he wants others to have the same experiences he had. The idea of the GLEAM Network is to move professionals along and help nurture their potential. Discover More.
Ding Dongs, Twinkies, And Popcorn, Oh My
Hostess has been hard at work supplementing its snack line with mashups and new offerings. Utilizing existing brand equity, Hostess combined two beloved treats together to create Ding Dongs x Twinkies Mashups. The treat features a Twinkie cake filled with cream covered in Ding Dong chocolate and comes in a 10-count box. This mashup is slated to be available at Walmart nationwide by the end of the month. Hostess is also making mashups with popcorn company, Evergreen Licensing. Together, they’re launching two new popcorn snacks – Twinkies and Ding Dong-Flavored Popcorn. Both are described as “light, crispy, and sweet.”
Stop back each week for more hot topics and industry-related news stories.
