It remains to be seen if April will be the pause that refreshes or if consumers will pinch their wallets shut for a longer period, ushering in summer doldrums for merchants. The U.S. Department of Commerce detailed Wednesday (May 15) that in April, retail sales were unchanged in March, which in turn had been revised downward...
Labor costs continue to weigh on restaurants, according to a new report by Square. The point-of-sale payments company’s Quarterly Restaurant Report, released Tuesday (May 14) notes that average hourly earnings for restaurant workers have risen by 66% since 2017 compared to 40% for retail workers. However, these costs...
Even as Main Street businesses outperform the rest of the economy, there’s a whole different set of rules for restaurants. For example, PYMNTS Intelligence found that over the last 12 months, Main Street businesses have operated with the lowest risk of closing since early 2020. A report from Fiserv went into...
McDonald’s is reportedly encouraging franchisees to vote to implement a $5 meal deal to bring back consumers who have left because of high prices. Franchisees — which can weigh in on major marketing campaigns — rejected the fast-food giant’s proposal earlier this year, but the issue has...
May 13, 2024
Even as Main Street businesses outperform the rest of the economy, there’s a whole different set of rules for restaurants. For example, PYMNTS Intelligence found that over the last 12 months, Main Street businesses have operated with the lowest risk of closing since early 2020. A report from Fiserv went into more detail. The Fiserv Small Business Index showed that small business sales […]
April 12, 2024
Across restaurants, grocers and nongrocery retailers, self-service is gaining ground, and merchants are making smarter choices about how they apply it. Take the restaurant industry, where a key concern is...
January 05, 2024
Through the last several months, payment networks, banks and buy now, pay later (BNPL) firms have pointed to the resilience of the U.S. consumer. Consumers have increasingly opened the proverbial...
December 14, 2023
As ongoing financial challenges have continued to constrain consumers’ budgets throughout the year, restaurants have taken the opportunity to rethink the financial incentives they offer, relaunching their rewards programs with...
May 16, 2024
Walmart’s grocery business is reportedly benefiting from the high price of fast food. The retailer’s chief financial officer, John David Rainey, told CNBC Thursday (May 16) that it’s “roughly 4.3 times more expensive” to buy a meal at a quick-service restaurant (QSR) than it is to purchase the ingredients needed to make a meal at home. “And that’s […]
May 14, 2024
Labor costs continue to weigh on restaurants, according to a new report by Square. The point-of-sale payments company’s Quarterly Restaurant Report, released Tuesday (May 14) notes that average hourly earnings for...
May 10, 2024
McDonald’s is reportedly encouraging franchisees to vote to implement a $5 meal deal to bring back consumers who have left because of high prices. Franchisees — which can weigh in on major...
May 06, 2024
Starbucks’ former CEO said the chain’s leaders need to spend more time at its stores. Howard Schultz made the argument on LinkedIn Sunday (May 5), days after the company reported its steepest drop in U.S. customer...
