Today in Food Retail: Grocery Prices Are Skyrocketing
Today in food retail, food inflation is skyrocketing and Red Robin is gearing up for the launch of a new virtual brand. Additionally, Tom Pickett, chief revenue officer at DoorDash, speaks with PYMNTS about how the company is upgrading its in-store white label offerings.
Highest grocery inflation in 40 years drives consumers to big brands
Food prices are rising fastest since the early 1980s. The United States Bureau of Labor Statistics (BLS) Consumer Price Index (CPI) released on Thursday 10 March shows that in February, Grocery prices rose 8.6% year over year. The increase marks the largest 12-month increase since April 1981.
AMZN vs. WMT Weekly: Eternal Rivals Face Perpetual Change
Although Amazon recently announced it is focusing on groceries through its Whole Foods and Fresh sites while closing other non-food brick-and-mortar stores, the fight for food won’t be won overnight against a rival. with nearly 5,000 national sites. At this point, Amazon is looking to deepen its convenience quotient by expanding its same-day delivery service to more markets.
Restaurant roundup: Red Robin adds digital wallets and a new virtual brand
Red Robin adds digital payment capabilities; Portillo’s leverages digital drive-thru lanes; New York City Cancels Pandemic Restoration Requirements; and Texas Roadhouse is adding payment technology to the table.
DoorDash: Bbot Tech brings digital convenience to on-site dining
“COVID-19…exemplified customer preferences for convenient, fast and accessible ordering at home and onsite,” Tom Pickett, Chief Revenue Officer at DoorDash, told PYMNTS in an interview. “Having the ability to order and pay at your convenience, in conjunction with servers, is a trend we plan to accelerate.”