Restaurants Need to Take a Step Back on Price

How are younger consumers reacting to inflation?

This week’s episode of A Deeper Dive features Lori Rakoczy, associate principal with Restaurant Business sister company Technomic and one of the co-authors of the blog Technomic’s Take. And we’re talking about inflation.

Specifically, we’re talking about how younger consumers are dealing with high prices. Menu prices have taken off over the past year-plus—they were up 8.5% year over year in December.

Rakoczy wrote recently that younger Gen Z consumers are not necessarily cutting restaurant dining out altogether as a result of the higher prices. But they are changing their behaviors. They’re more likely than other consumers to price shop and keep eating out.

Rakoczy discusses how operators should adapt and what this could mean for restaurants. She also talks about convenience and why that is so important in the restaurant business.

We’re talking about Gen Z consumers on A Deeper Dive so please have a listen.