Despite higher menu costs, the Radio Advertising Bureau recently reported a rise in dining out and takeout nationwide. The article cited Provoke Insight’s seventh wave of research, which states that radio listeners are identified as key patrons who contribute significantly to dining expenditures and tend to tip generously across various dining settings. The research evaluates research on restaurant tipping and how radio listeners differ.

• Sales at drinking and dining establishments have surged despite rising menu costs, indicating a strong preference for dining out or taking out food.
• A new trend, ‘tipflation,’ has emerged, where consumers feel increasingly pressured to tip more, influenced by the growing number of tipping prompts at the point of purchase. 
• Radio listeners, a significant portion of dining patrons, tend to spend more on meals, even amidst rising menu prices. They also tip more frequently across various dining establishments compared to non-listeners.
• Radio advertising effectively reaches patrons of all types of dining establishments, from quick-serve to fine dining, driving both foot traffic and online engagement for restaurants.

Check out our latest restaurant research deck for more information.

Fast Company’s interview with President Carly Fink was cited in MSN’s article about digital shelf price labels (DSLs). Walmart plans to introduce digital shelf price labels (DSLs) in 2,300 US stores by 2026 to streamline pricing updates and improve efficiency. Implementing dynamic pricing during the rollout of DSLs has been a controversial topic among marketers. 

• Walmart’s rollout of digital shelf price labels (DSLs) aims to streamline operations and improve customer service. According to a press release, the DSLs will allow price updates with “a few clicks” instead of days of work.
• DSLs introduce features like “Stock to Light” and “Pick to Light,” which enhance efficiency by aiding in accurately restocking and fulfilling online orders.
• Carly Fink from Provoke Insights highlighted the potential benefits of dynamic pricing with DSLs, suggesting it could optimize pricing strategies based on market demand, as reported by Fast Company.
• Despite concerns, Walmart clarified that its DSL system currently does not support dynamic pricing and has no plans to introduce such functionality.

Interested in learning more about digital price labels and dynamic pricing? Check out our restaurant deck in the Summer 2024 consumer trends page. Learn more here.