Taco Bell’s new menu reveal, gas prices’ threat to restaurants, and Starbucks’ loyalty update
MAR 16, 202643 MIN
Taco Bell’s new menu reveal, gas prices’ threat to restaurants, and Starbucks’ loyalty update
MAR 16, 202643 MIN
Description
On this week’s Extra Serving, NRN editor in chief Sam Oches and executive editor Alicia Kelso discuss the latest restaurant industry news, including Taco Bell’s big menu announcement, the impact that surging gas prices could have on restaurants’ recovery, and Starbucks’ overhaul of its massively popular loyalty program. First up is Taco Bell, which hosted its annual Live Mas Live event in Hollywood earlier this month, introducing at least 14 new menu items that will debut this year. Alicia attended the event and can finally share details, including the scope of the new menu introductions, which lean especially into snacks, desserts, and beverages. Next they talk about Wendy’s and Pizza Hut both announcing that they would hire customers who can provide feedback on their menus — following in the footsteps of Taco Bell and Burger King, which similarly embraced customer feedback for the sake of improving product offerings. Sam and Alicia discuss the novel strategy, which brings a lot of risk along with potential reward. Could this be the first step for Wendy’s and Pizza Hut in jumpstarting their floundering businesses? Gas prices are up next; Sam and Alicia discuss the fact that war in Iran is driving up the cost of gasoline, and they explore what kind of effect that could have on a restaurant industry that has already been struggling against a difficult economy. What can operators do to protect against customers potentially pulling back on restaurant spend? Finally, Sam and Alicia tackle Starbucks’ controversial new loyalty update, which angered customers when it shifted to a new tiered model. Why might this backfire on the coffee giant?For more on these stories: Taco Bell’s Live Más Live goes HollywoodWendy’s and Pizza Hut look for momentum from consumer inputRising gas prices could disrupt restaurant sales recovery