Global Market Buzz

China’s Fastest Growing Hotpot Chain Just Minted Two Billionaires

April 22, 2019 by TaraPaige Group Leave a Comment

Image result for Haidilao International Holding Ltd

“China’s insatiable demand for spicy hotpot is placing the founders of a restaurant chain atop one of the world’s fastest-growing fortunes, allowing them to outpace many of the wealthiest families globally.

As of Monday, Zhang Yong, chairman of Haidilao International Holding Ltd., and his wife Shu Ping, had grown $6 billion richer in 2019, a 79 percent jump in just over three months.

That pace is the fastest in Asia and globally only topped by Australian mining baron Andrew Forrest, who has doubled his fortune this year, according to the Bloomberg Billionaire’s Index, a ranking of the world’s 500 richest people.

Haidilao went public in September, and it’s been a lucrative time for China’s largest hotpot chain, popular for the spicy broths in which diners cook their meats and vegetables. The company is pushing to make its restaurants more efficient by creating automated kitchens. Perks like the free manicures it offers waiting customers have kept families coming in. And the brand is expanding overseas with new locations planned in New York and London.

Last year, revenue surged 60 percent to 17 billion yuan ($2.6 billion), and that’s helping to push the stock up more than 75 percent this year. At about $21 billion, the company’s market value is now higher than Chipotle Mexican Grill Inc.”

Truebird Swoops Into New York with Robotic Specialty Coffee Kiosks

April 19, 2019 by TaraPaige Group Leave a Comment

“(…) Could the surly and spirited humans of old New York embrace a joe by droid? A new company called Truebird has fluttered in to find out.

Like its predecessors, Truebird pitches its system squarely at the specialty coffee crowd, claiming that its automated coffee kiosks offer drinks that are “consistently as good as those made by the best baristas using the finest ingredients and equipment.”

At a Truebird coffee station, customers are able to choose a fresh and locally roasted coffee from a touchscreen menu, then designate a type of milk and an espresso beverage style for the machine to execute.

The flat ceramic “standard” burrs of one of the machine’s two integrated grinders break the beans. An extraction occurs, and milk is stretched by unseen internals as the customer waits, while a trio of cute, black magnet-driven pucks charmingly coordinate to nudge cups around on the visible surface behind glass.

“We chose our magnetic transport solution versus other options, including an articulated robotic arm, for a variety of reasons, but chief among them was the surprisingly warm, approachable, and magical experience it creates,” Truebird CEO and Co-Founder Josh Feuerstein told Daily Coffee News. “We believe a coffee break is not just about the quality of the drink, but about the feel of the experience. We’ve tried to make every element of our product warm, approachable, and beautiful, from the design of the micro-cafe itself, to the mesmerizing experience of watching your cup glide from the espresso machine towards your hand. We keep that emotional component top-of-mind in our design process. It’s a fascinating challenge, especially for an automated product.”

See more here.

Filed Under: Customer Trends, Events, Global Market Buzz, Heard on The Street, Local Market Buzz, Operations, Opportunities, sales, Shopbuzz, Trending Now Tagged With: Coffee, coffee consumption, coffee delivery, coffee industry, Coffee Machine, Delivery, inspiration, menu, Milk, new product, New York, recommendations, robot, Robotic Specialty Coffee Kiosks, stand

Former Darden executive named president of Union Square Hospitality Group

April 18, 2019 by TaraPaige Group Leave a Comment

“Former Darden Restaurants Inc. executive Chip Wade has been named president of Union Square Hospitality Group, the company said Thursday.

Wade, who moves into the role officially in mid-May, fills a position that has been empty since 2015, when it was held by Jeff Flug, who stepped down after the public offering by Shake Shack, which was once a part of the New York-based multiconcept group.

In his new role, Wade (left) will work directly with CEO and founder Danny Meyer, the board and the restaurant group’s leadership team to enhance and evolve the company’s culture, drive guest experience and bolster profitability, the company said.

“USHG is growing in some pretty exciting ways right now,” said Meyer, whose group operates about 18 restaurants under various brands, from the acclaimed Union Square Café and Gramercy Tavern to the more casual neighborhood café Daily Provisions, the barbecue concept Blue Smoke and taco joint Tacocina.”

Toby’s Estate Brooklyn Changes Name to Partners Coffee

April 18, 2019 by TaraPaige Group Leave a Comment

Partners coffee

Fresh off the heels of a second Brooklyn roastery opening and new cafe, Toby’s Estate New York today announced a name and brand change, becoming Partners Coffee.

Toby’s Estate in Brooklyn has been building a passionate following and impressive wholesale roster since opening with a Williamsburg roastery in 2012. Co-Owners Amber Jacobsen and Adam Boyd had licensed the name from the popular Australian roastery, founded by Toby Smith, of the same name.

While 2012 and the subsequent years turned out to be fortuitous times for Australophile specialty cafe businesses riding the Third Wave in New York, the change to Partners Coffee serves to better reflect the local ownership.

Ethan_Covey_photo

“We are only as great as the sum of our partners, and we are excited to continue evolving and growing with a new look, feel and name that fully embodies who we are and what we stand for,” Jacobsen and Boyd said in an announcement of the rebranding.

The Partners Coffee effort was assisted by the New York design firm Love & War, which sought to “develop a bold, dynamic design aesthetic that evokes heritage coffee brands and the classic energy, optimism and simplicity of old-school New York coffee counters,” according to the Partners Coffee announcement today. (…)”

Giant Food Stores Opens 6 locations in 4 States

April 12, 2019 by TaraPaige Group Leave a Comment

“With the six new locations, Giant now operates 178 supermarkets in Pennsylvania, Maryland, Virginia and West Virginia. The stores also include 132 pharmacies and 99 fuel stations.

“These multiple store openings align with our aggressive long-term growth strategy: entering new markets where it makes sense and expanding our offerings for our current customers,” Giant Food Stores President Nicholas Bertram said in a statement.

Giant’s latest strategic investments have focused mainly on its core Pennsylvania market.

In February, the grocer launched Giant Direct Powered by Peapod, an e-commerce hub in Lancaster, Pa. The company, which has four other e-commerce centers in Pennsylvania, said that banner will become its online grocery brand going forward. Giant also unveiled plans to open three more Giant Heirloom Markets in Philadelphia. The urban store format premiered in the city’s downtown in late January, and the next location is due to open this summer, with all the stores in operation by the end of the year.

A couple of new supermarkets are in the works as well. Giant said it plans to open new stores this year in East Stroudsburg and Walnutport, Pa. In November, the chain had opened a Giant store in Lancaster’s Willow Valley area that was acquired from Darrenkamp’s Markets.”

View more here.

Filed Under: Customer Trends, Events, Global Market Buzz, Local Market Buzz, Openings, Operations Tagged With: Administration, business, chain, drugstore, Food, food industry, Food Service, Grocery, Grocery Store, investment, news, Openings, Pennsylvania, strategy, super foods, supermarket

Will Legal Marijuana Create New Restaurant Opportunities?

April 10, 2019 by TaraPaige Group Leave a Comment

Will legal marijuana create new restaurant opportunities? “If you’ve been to a food conference lately you’ll notice there’s at least one session talking about cannabis, CBD, cannabinoids, or whatever term we’re using now. I’ve been to two conferences in recent weeks that addressed the topic and I’m writing this post while in California, where voters legalized recreational use of marijuana via referendum in 2016. Therefore, I have pot on the brain — so to speak.

At NPD we’re always analyzing how trends affect the food and beverage industry and if you talk to a — what shall we call them, “pot enthusiasts” — you’ll know food plays a major role when they use marijuana. This can be from how they ingest the marijuana to the munchies leading them to eat a variety of indulgent foods.

We took a look in our SnackTrack information, which monitors the consumption of ready-to-eat, convenience-oriented snack foods in the U.S., to see if there are changes since legalization occurred. In those states that legalized recreational marijuana, brownie consumption has increased a whopping 107 percent compared to pre-legalization times. Chewy candies, which had a stable consumption level for years, grew by 17 percent after legalization, and fruit snacks also increased after legalization.

I’m not sure yet if this is a result of the munchies, pot brownies or gummies, and all I can fully say with confidence is these changes are correlations. However, these correlations are in line with what we’ve known anecdotally for some time about recreational pot usage and can point to growth opportunities should more states allow it.”

Job Growth in U.S. Restaurants and Bars Jumps in March

April 9, 2019 by TaraPaige Group Leave a Comment

Image result for Average weekly earnings were up to $427.78 per week, as compared to $425.88 per week in February.

Restaurants and bars in the U.S. added 27,000 jobs in the past month, quieting rumblings of an economic slowdown following February’s unexpectedly low job growth numbers for both the industry and the U.S. economy overall. According to the latest economic report from the Bureau of Labor Statistics, March’s job growth numbers more closely align with what the industry had been reporting in previous months: 36,000 jobs added in January and 40,000 jobs added last December.

There were 196,000 total jobs added in March across all industries in the U.S., and the unemployment rate stayed at a steady, low rate of 3.8 percent or about 6.2 million people unemployed. Unemployment rates in leisure and hospitality remained slightly above the national rate, at 5.8 percent people unemployed in the industry.

Average hourly earnings in the leisure and hospitality sector remained essentially unchanged from the month prior, at $16.39 per hour. That’s up about 60 cents from March 2018’s average hourly earnings. Employees in the sector worked an average of 26.1 hours per week, the same hourly average that was reported in March 2018. Average weekly earnings were up to $427.78 per week, as compared to $425.88 per week in February.

4 Ways to Take Your Sales Strategy to the Next Level with a Video Presentation

April 5, 2019 by TaraPaige Group Leave a Comment

“To maximize potential impact, businesses are upgrading their sales strategy to incorporate a video presentation. Not only does this put a face to your business, but it can also be individualized to each client, and can significantly help you stand out among the rest. Consider these steps to take your sales strategy to the next level with an introductory video.”

1. Introduce Yourself To Clients

Add a more human, and engaging, element to your pitch and introduce yourself to potential clients with a video. You can let them know what makes your products or services better from the rest, and give them an idea of what kinds of people they can expect to work with by choosing you.

A corporate video can be used as an initial means of contact or a unique way to send clients some information prior to a sales meeting – more than just a sales deck showing off products and price points, a corporate video can provide a platform to show off your merchandise and let potential buyers see them in action.

This is an excellent sales strategy that will get them thinking about your business, and help to take things to the next step.

2. Use Video Content During Your Sales Pitch

When you get the opportunity for a face-to-face meeting with a client, having video content in your sales strategy can help a lot.

More than just presenting numbers, a corporate video enables potential buyers to see your products in use, and learn exactly how they’re beneficial. This is especially useful for those businesses that offer services or products which can’t be brought into the office for the meeting. Adding a quality visual aid to your sales approach allows you to show off the design process, manufacturing floors, your talented staff, and so much more.

(…)

Thailand’s South Gets Its Due in Williamsburg, Brooklyn

April 4, 2019 by TaraPaige Group Leave a Comment

Nora Thai

Lately, when it comes to Thai food in New York, the spotlight has been on the spice-fueled cuisine of the Isan region, in the northeast. But the restaurateur Kittigron Lertpanaruk, also known as Khun Oh, is from the south, where curries dominate, and he feels it’s time to give that part of Thailand its due. His new restaurant, decorated with red hanging lamps, gilded Buddhist statues, temple bells and carved wood panels, features a long list of curries. They include cua kreang, a dry curry; gaeng kua, a black pepper curry; and tiplah, a salted fish paste curry. But Mr. Lertpanaruk, who founded the chain of Asian restaurants called Spice and who recently became a partner in Arun’s, a highly regarded Thai restaurant in Chicago, also knows what’s popular, so the menu has dishes like crispy spring rolls, tom yum soup, pad Thai, green papaya salad, satays and mango salmon.

See more openings here.

Filed Under: Cooking, Customer Trends, Global Market Buzz, Heard on The Street, Local Market Buzz, Openings, Opportunities, Trending Now, Wine, Your Restaurant Tagged With: Bar, black pepper, Buddhist, Curry, Customer Service, Food, gaeng kua, New York, Opening, Openings, Restaurant, Restaurant Service, restaurants, thai

McDonalds Buys Dynamic Yield For $300 Million to Bring Big Data to Drive-Thru

April 3, 2019 by TaraPaige Group Leave a Comment

Image result for McDonalds Buys Dynamic Yield For $300

“In a testament to the value of personalization, McDonald’s announced plans to acquire an Israel-based startup that uses data to serve up personalized offers to customers. According to people familiar with the matter, McDonald’s will acquire Dynamic Yield for upwards of $300 million.

The acquisition will inject technology into multiple areas of the traditional fast food restaurant, starting with a core feature: the drive-thru. McDonald’s tested the technology in a Miami location, where, according to Wired, the company’s algorithms took real-life factors like weather and traffic into account, suggesting appropriate menu items.

Thanks to new technology, restaurants collect plenty of data. But the practical application of that data is big business, and McDonald’s is seizing that opportunity with the Dynamic Yield buy.

“Upon closing of the acquisition, McDonald’s will begin to roll this technology out in the drive thru at restaurants in the United States in 2019 and then expand the use to other top international markets,” the company said in a statement on the news. “McDonald’s will also begin work to integrate the technology into all of its digital customer experience touchpoints, such as self-order kiosks and McDonald’s global mobile app.”

Giant Food Stores Opens 6 locations in 4 States

Job Growth in U.S. Restaurants and Bars Jumps in March

Follow PaigePapers

Twitter

Join Us on Facebook

Hot Topics

PAIGEPAPERS MONTHLY

LATEST POSTS