#restaurant-economics

#restaurant-economics

It has become clear to me that the restaurant world I've known for decades is radically changing through a combination of factors: people's working patterns, health obsessions, the falling out of love with alcohol and the falling in love with pastries and bread, but, predominantly, the affordability of it all. The numbers are genuinely frightening: in my restaurants, utility costs are up more than 50% since 2019; chocolate prices have doubled; olive oil is up 121%; even spring onions are up 55% spring onions!

Research suggests diners spend more freely when prices are listed without currency symbols - possibly because the visual cue of a dollar sign reminds people they're parting with money.