1、September 2024Pricing StrategiesDriving RestaurantVisits in 2024This white paper dives into the data to explore the state of therestaurant industry in 2024 and see how leading chains arenavigating the challenges posed by rising prices.Table of ContentsDining in 2024(So Far)3Dollar-Driven Dining Deci

2、sions4Who Can Afford to Raise Prices?5Shake Shack:Drawing Affluent Audiences6Texas Roadhouse:Thriving Through Price Hikes7QSR Limited-Time Offers(LTOs)to the Rescue8Hardees August Combo Deal:A Recipe for Loyalty8McDonalds Special Meal Deal9Michelin Star Success11The Final Plate12 2024 Placer Labs,In

3、c.|More insights at placer.ai|2Dining in 2024(So Far)The restaurant space has experienced its fair share of challenges in recent years from pandemic-related closures to rising labor and ingredient costs.Despite thesehurdles,the category is holding its own,with total 2024 spending projected to reach$

4、1.1 trillion by the end of the year.And an analysis of year-over-year(YoY)visitation trends to restaurants nationwideshows that consumers are frequenting dining establishments in growing numbers despite food-away-from-home prices that remain stubbornly high.Overall,monthly visits to restaurants were

5、 up nearly every month this year comparedto the equivalent periods of 2023.Only in January,when inclement weather keptmany consumers at home,did restaurants see a significant YoY drop.Throughout therest of the analyzed period,YoY visits either held steady or grew showing that 2024 Placer Labs,Inc.|M

6、ore insights at placer.ai|3Americans are finding room in their budgets to treat themselves to tasty,hassle-freemeals.Still,costs remain elevated and dining preferences have shifted,with consumersprioritizing value and convenience and restaurants across segments are looking forways to meet these chan