The Beverage Standards Association brings you Peter’s Weekly Briefing every Tuesday morning.
Monday, 12th of August 2024 Weekly Report
ONS data
My analysis of the latest ONS data clearly shows that a 10% menu price increase generates just a 3.7% increase in expenditure. To put this into perspective, let’s take a look at McDonald’s. The price of a Big Mac meal in the US has risen by 27% since 2019, faster than overall consumer inflation at only 22%. In Q2, McDonald’s reported that, despite the above overall inflation increase in the Big Mac meal, global sales fell -1%. So, an above-inflation price increase on McDonald’s flagship product was linked to an overall decline in sales.
Thank you for reading part of the Monday 12th August 2024 Weekly Briefing. A complete edition can be found here.
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Peter provides consultancy on the eating-out market and opens eyes to brand new ways of thinking about the sector and its multiple opportunities for success.
(E) peter@peterbackmanfs.com (w) www.peterbackmanfs.com
