Restaurants Caught in Squeeze Add Inflation Fees Amid Razor Thin Margins
As restaurants across the country feel the squeeze from rising inflation, a tight labor market, and minimum wage increases on an industry with notoriously thin margins, owners are passing along the pain in the form of various fees tacked onto the tab, according to the Wall Street Journal.
According to point-of-sale software developer Lightspeed, fee revenue has nearly doubled from April 2021 to April 2022, based on a sample of 6,000 restaurants on their platform. Restaurants adding service fees increased by 36.4% over the same period.
"As the costs of doing business have changed, we’ve seen more merchants leverage this tactic," said exec Peter Dougherty.
LIKE & SUBSCRIBE for new videos everyday. https://bit.ly/3KBUDSK
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
🎙️ Listen to the 𝐍𝐞𝐰𝐬 𝐅𝐨𝐫 𝐑𝐞𝐚𝐬𝐨𝐧𝐚𝐛𝐥𝐞 𝐏𝐞𝐨𝐩𝐥𝐞:
►💎iTUNES - https://apple.co/2MkFziJ
►💎SPOTIFY - https://spoti.fi/2Dh8EoL
✔SUBSCRIBE 🔔HIT BELL! 👍LIKE 💬COMMENT
#Reasonable #News
-
2:10
WXYZ
1 year agoSome restaurants adding 'inflation fees' to bills amid rising food costs
761 -
3:49
WTMJMilwaukee
2 years ago'It's a different kind of stress': Inflation forces restaurants to make menu changes and find ways to save
4 -
3:43
WCPO
3 years agoSome restaurants charging more as food prices soar
131 -
3:20
Ainsley Earhardt
1 year agoInflation forces Atlanta restaurant to raise prices for the first time in its 67-year history
301 -
1:04
KTNV
1 year agoLas Vegas food banks experiencing heightened demand amid inflation spikes
14 -
2:41
Newsy
1 year agoInflation Taking A Bite Out Of Restaurant Owners Across The Country
11013 -
4:19
WMAR
2 years agoInflation's grip on small businesses
5 -
1:47
WFTX
3 years agoFood prices continue to rise causing restaurant owners to get creative
27 -
6:48
WEWS
2 years agoWith inflation surging to historic levels, small businesses grapple with difficult decisions
41 -
3:42
NTD
2 years agoInflation Hits Small Businesses by Reducing Consumers’ Disposable Income: Executive
80