Both, restaurant and at home food prices are up 25% since the beginning of COVID 2020. The article discusses the impact of a 25% increase in food and restaurant prices on consumers, particularly those with lower incomes. This significant rise in prices, resulting in meals that were once $10.00 now costing $12.50, has broader implications beyond just low-income diners. Labor costs have also increased by 25%, further adding to the financial strain on restaurants. The...
Read MoreImpossible Foods, a leading meat alternative brand, has recently launched its first brick-and-mortar foodservice concept called Impossible Quality Meats in Uptown Chicago. This pop-up concept offers a diverse menu of plant-based options, including appetizers, salads, wraps, burgers, and hotdogs. Operating from Aug. 13 through fall, the pop-up is open on Tuesdays through Sundays from 11 a.m. to 8 p.m. It is situated within Chicago’s XMarket Food Hall, managed by VEG House and leased through PlantX...
Read MoreDarrell Huff’s influential book “How to Lie with Statistics” highlights the susceptibility of individuals to misleading information when interpreting statistics, emphasizing concepts like random sampling, correlation versus causation, and visual misrepresentation. This challenge of accurate interpretation extends to the commercial real estate industry, where traditional metrics like vacancy rates may not provide a comprehensive picture of the overall market. The discrepancy between vacancy rates and actual availability rates in the industry can significantly impact decision-making...
Read MoreHealth-forward restaurants are facing challenges as higher commodity and labor costs impact their profitability. Clean Juice, a health-focused juice bar franchise, has seen costs rise across various areas, including paper goods, meat, dairy, and produce. To address these challenges, Clean Juice has introduced marketing strategies focused on price, such as offering products for under $6 and a pick-two menu for under $13. The company is also working with franchisees to identify underpriced or overpriced items...
Read MoreWalmart’s CEO, John Furner, highlighted the importance of convenience for consumers in the retail industry, emphasizing that saving time and reducing friction in their lives can outweigh price considerations. Furner noted the increasing demand for innovative solutions that streamline decision-making and enhance customer experience. He expressed optimism for the consumer health in 2024, despite challenges like inflation, citing early sales data that showed positive trends in spending on health and personal care products. Furner also discussed...
Read MorePortillo’s, a Chicago-based brand led by CEO Michael Osanloo, is strategically focusing on expanding its presence in the Sun Belt region of the U.S., known for its warmer climates and lower taxes. With data showing significant population growth in counties in Arizona, Texas, and Florida, Portillo’s is directing 80% of its future growth efforts towards these states, particularly targeting areas like Phoenix, Houston, and Dallas-Fort Worth. The brand has seen success in Texas, with four...
Read MoreTarget announced the launch of its paid membership program, Target Circle 360, following in the footsteps of competitors like Amazon and Walmart. The program, set to debut in early April, will cost $99 per year with a promotional rate of $49 per year until May 18. Members will enjoy perks such as unlimited free same-day delivery for orders over $35, two free-day shipping, and other benefits aimed at boosting online sales and improving profits. Target...
Read MoreCrumbl recently acquired the pie company Crust Club, founded by Tyler and Valerie Kukahiko in 2016. The acquisition was made because Crumbl resonated with Crust Club’s mission, which is similar to theirs, of bringing friends and family together around the dinner table. Now, Crumbl is preparing to franchise the Crust Club concept, with the first franchised location set to open in Logan, Utah on March 8th. Crust Club’s menu focuses on savory and sweet pies,...
Read MoreJust as restaurants and fast casual food chains are evolving, so is the healthcare retail sector. It comes as no surprise that we are seeing more of these types of businesses pop up within shopping centers, malls, or retail spaces. This trend continues to shape the real estate landscape by creating demand for properties that can accommodate healthcare facilities within retail environments. This type of tenant is great for landlords and investors as it can...
Read MoreIn Wendy’s fourth quarter earnings update, they announced they will be rolling out new digital menu boards at its fast-food locations to have more flexibility in changing the display of featured items. Some of this information has been misinterpreted in media reports claiming that they will incorporating surge pricing during peak hours which is not factual. Wendy’s said in a statement: “We have no plans to do that and would not raise prices when our...
Read MoreNo delivery address? No problem, according to Dominos pizza’s new technology! Customers of Domino’s pizza can now order from just about anywhere. Whether you are on the beach, at a local park or even a baseball field, you can now order using a pin drop! This new technology was tested last week and the drivers as well as customers had positive feedback about the experience. This is a very smart move for the pizza chain...
Read MoreBed Bath and Beyond auctioned off 109 of its leases due to their recent bankruptcy. It turns out that Burlington Coat Factory won 50 (the majority) of the leases at an estimated value of about $13.53 Million which aligns great with their growth plans. Other stores who got locations include Michaels, Haverty’s, Barns and Noble, and Macy’s to name a few. The store locations are tremendous for retailers who want to grow their businesses and...
Read MoreMany of us have been in a situation where we are waiting in line to purchase an item and we have time to reconsider that purchase and decide to step out of line. Making the checkout process easy for the end user remains to be a top priority for retailers. Mobile POS systems are a great tool for retailers who want to provide their customers with easy, fast and reliable service. Some retailers are even...
Read MoreAs with all brands, evolution is key to staying relevant and competitive in the marketplace. Smoothie King, known for their delicious smoothies was also known to be filled with sugar and not the healthiest smoothie on the market. Wan Kim, now CEO of smoothie King, bought the brand from its founders in 2012 and has been working tirelessly to not only expand the chain into various countries, but also transform their marketing and product offering...
Read MoreThere is no doubt that we are in an economy where delivery times are the fastest, we have ever seen. The average item takes a total of four business days from the time of purchase to reach its end user. This is quite impressive, but can companies sustain these incredible speeds? Time will tell; however, retailers are making great strides to reduce delivery times in order to compete with Amazon and their warehouse business model...
Read MoreREI is a retail chain that offers apparel and products you need for the outdoors as well as fitness activities. We were fortunate to get one in Tampa a few years ago in Midtown. The store has recently decided to expand upon its “Re/Supply” store concept which will offer high-quality, gently used products at great discounts. REI says, “the selection will change frequently and be made up of lightly used products that REI receives through...
Read MoreDel Taco has been expanding its reach into the Florida market with locations popping up all over the state. Their strategy is different than that of their competitor, Taco Bell, in that they pride themselves on the higher quality food offerings, however, they are also appealing to those who are budget conscious. One side of their menu has items for $2 or less (value menu) and the other side of the menu has regular priced...
Read MoreDave and Buster’s had a record first quarter of 2023 with revenue of $597 million and record net income of $70.1 million. Coming out of the Pandemic is looking very promising for the experiential entertainment retailer. Even with the uncertain times we are currently in, they remain bullish about their business model and are making efforts to enhance the customer experience. CEO, Chris Morris said, “the company’s record results in Q1 were driven by operational...
Read MoreEveryone loves a Panera Bread sandwich, soup or salad every now and then! Panera Bread has been a leader in the fast casual dining category for quite some time. In 2010, they rolled out their loyalty application which also first introduced the concept of ordering on the app ahead of time and picking up food in store on the pickup shelf. Now fast forward to 2023 and they are incorporating drive-thru’s at many of their...
Read MorePatrick Doyle, former CEO of Domino’s pizza for over a decade, brought the chain to the #1 position in its sector. Now, he is at the helm of the Burger King franchise and investing $30 million of his own money to align his incentives with that of Burger King. Burger King launched a $400 million revival plan before Doyle came on board called “Reclaim the Flame.” This effort includes substantial advertising and digital investments, remodeling...
Read MoreAcadia Realty Trust, a publicly traded REIT which invests in shopping centers and street retail is seeing positive returns for investors. Their street retail market rents and tenant health are performing better than they did pre COVID. Their portfolio includes street retail in major cities such as New York, Chicago, Los Angeles and Washington D.C. Representatives from Acadia say they are very optimistic for what they will see over the next few years since the rebound...
Read MoreThe first quarter sales results are in for Walmart, and they look very optimistic! Walmart beat Wall Street’s earnings and expectations for the first quarter of 2023 and attributes most of this to its strong grocery sales which make up roughly 60% of sales. The CFO, John David Rainey stated that consumers are still spending a great deal even while inflation remains hard on American consumers. They have noticed people are not buying big ticket...
Read MoreAs we see consumers facing inflation, paying higher prices for necessities, they are also looking to discount retailers to find better bargains on clothing and accessories. Now, post pandemic everyone is out and about again going on vacations, eating out at restaurants and attending events and along with this, people are seeking new apparel to wear. According to the article, Nordstrom stores have faced lackluster performance even since before the Pandemic and investors want to...
Read MoreSweetgreen, a popular fast casual salad restaurant is making improvements towards efficiency in its kitchen. The brand is focusing more on front facing employees who interact with the customers in order to enhance the customer experience instead of preparing and assembling the meals. The health food concept is testing new, automated robotic lines which they have termed “Infinite Kitchen” at two of its locations. The Infinite Kitchen uses a conveyor belt to dispense each ingredient...
Read MoreBatteries Plus, a chain responsible for selling batteries for watches, phones & vehicles, plus replacement lightbulbs is doing very well. They had a record-breaking year with double digit commercial sales growth in 2022 and plan to expand their franchise footprint in 2023 to keep the momentum going. Batteries Plus broke records in the first quarter of 2023 with the highest commercial sales in company history. The company currently operates 700 stores and plans to...
Read MoreRaising Cane’s founder, and co-CEO Todd Graves has quite the story to tell. It began in college, where he received the lowest grade in his college class for his proposed business plan, opening a fried chicken business. His teacher didn’t believe this would thrive in Louisiana and when he presented his idea to banks, they did not support him either. He moved to California and worked in an oil refinery then moved to Alaska to...
Read MoreDick’s Sporting Goods is a staple in the retail sporting goods industry. As with the changing of the times they are also evolving, not only to meet customer expectations but exceed them. Dicks has started opening stores with a more interactive experiential concept called the “House of Sports” and it is being received very well by its customer base. The House of Sports concepts have a batting cage, rock climbing wall, golf simulators and equipment...
Read MoreChipotle has done a great job producing quality fast casual Mexican food, who doesn’t love a Chipotle burrito every now and then? Their recent campaign highlights their sustainability efforts and the importance of connecting to mother earth. The chain is working on making over 100 of its new stores “all electric” in order to reduce their carbon footprint and show their commitment to the environment. Some of the things they are doing in order to...
Read MoreThere is no doubt that Lululemon is a champion in the athleisure category. They have been popular since inception by providing soft, comfortable athletic wear that is fashionable and trendy. Last year was a bumpy ride for a lot of retail, but lululemon came out strong in the 4th quarter of 2022 with revenues surging roughly 30%. Although they had huge increases in revenue, one product in particular that they sell did slow them down...
Read MoreWe are seeing transportation and logistics recover from backlogs of goods coming to the U.S. return to healthy pre-pandemic levels which is good news. Unfortunately, for the customers, this does not mean that prices of goods will be slashed anytime soon. It is still very costly to have items shipped. “Short-term prices for containers from Europe to the US East Coast are still more than double what they were in late-2019,” according to data from...
Read MoreDollar Stores offer unmatched discounts to their customers. Through the pandemic, however, they struggled a bit to keep up with all the online shopping that was occurring. Now, they are making a big comeback and ready to compete with grocery stores and offer more food items. At a time where we are seeing a rise in interest rates coupled with high inflation, this seems like a strategic move for the discount retailer. Currently, dollar stores...
Read MoreTarget has just about every single household item you could ever need. They have done a great job getting customers to do the bulk of their shopping all in one place. From grocery shopping, to buying a new throw blanket or toiletries, they have it all. Recently, they have focused their efforts on remodeling stores and having displays at the ends of aisles that make you feel like you need to buy certain items while...
Read More7-Eleven continues to evolve and bring ease and convenience to its customers. The convenience store giant just announced that it will be rolling out the largest and most compatible network of Electric Vehicle charging stations, called “7Charge” across North America. Customers will be able to seamlessly download the app for an easy charging and payment experience. The states they will begin implementing these stations include Florida, Texas, California, and Colorado. Once the EV network is...
Read MoreWith inflation still high, it comes as no surprise that consumers are doing what they can to save money. Even though we are not currently in what would be classified as a, “recession” consumers are doing more cooking at home, seeking out cheaper gas, and utilizing coupons to save money. People are behaving as if we are in a recession and the big retailers are doing what they can to lure customers in. Many big...
Read MoreCAVA, a fast casual Mediterranean restaurant confidentially filed IPO in February. If it does in fact go public, it will be the first of its kind to do so since 2021. The restaurant began in Maryland in 2006 and has since opened hundreds of stores across the country. In 2018, CAVA acquired Zoës Kitchen and has since been flipping those stores over turning them into the CAVA branded locations and opened 83 new stores in...
Read MoreIt has become more commonplace for people to shop online and use delivery services for grocery items in particular but there has been an uptick in online shopping for other household products as well. Nonfood items such as household cleaning products and cosmetic products are being ordered online at a much higher rate than we have ever seen. “48.2% of consumers said they are buying less cleaning supplies in-store, and nearly as many said they...
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