December 3, 2021
Jon Taffer says rising prices just as ‘devastating’ for restaurants as supply shortages

Jon Taffer says rising prices just as ‘devastating’ for restaurants as supply shortages

Restaurateur and “Bar Rescue” host Jon Taffer argued that rising prices are just as “devastating” for restaurants as supply shortages, inflicting disruptions in each side of a restaurant’s operate, on “Cavuto: Coast to Coast” Friday.

“Specifications are changing on everything,” Taffer instructed FOX Enterprise’ Neil Cavuto.

“It isn’t whether I get steak or not,” Taffer continued, “Now I have to get a different grade, a different cut, a different thickness. Now, my kitchen staff needs to be trained to cook dinner when it doesn’t cook quite the same as the other one. Maybe it doesn’t fit on a plate like the other one did.”

Inflationary prices are sticking round as the supply chain disaster rages on and labor shortages persist.

Taffer claimed this mix of things makes it much more difficult for restaurants to regulate to cost and product adjustments.

“It’s difficult for restaurants when we’re short-staffed to constantly keep training people on these changing food specifications,” Taffer defined. “So that’s impacting us as well as price.”

When requested how lengthy these excessive prices might proceed, Taffer predicted People might see gradual will increase over the subsequent two years.

“I sense that we don’t start to see movement out of this, certainly until summer or so,” he mentioned, “and it concerns me very much.”

The restaurateur mentioned customers have up to now been accepting of inflationary prices, seemingly as a result of post-pandemic pleasure of returning to social actions, however it could not final lengthy.

“At what point do people move from steak to hamburgers and hamburgers to hot dogs and hotdogs to spaghetti?” Taffer mentioned. “And how do people’s lifestyles change during this? And what is the lasting impact on us when we do come out of this?”

Taffer pointed to the silver lining, noting whereas the restaurant trade continues to be struggling, meal revenues are up 15 to 25% since pre-COVID ranges.

“Restaurants have to figure out how to get through this,” he mentioned, “and consumers have to be supportive at this time.”

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