Welcome to Food Week October 12, 2024. Things that are hot: Vietnam, Dr. Pepper, produce, Portugal, chaos cuisine and pumpkin spice (yuk.) Things that are not so hot: 7-Eleven, Grabango, brewpubs, the tasting menu and consumer sentiment. All this and more. Enjoy
MACRO
- Inflation is tamed and the jobs market is strong but consumer sentiment is still fairly dour.
- Hurricane Milton was terrible but it really could have been worse.
- While everyone is focused on Hurricane Milton, the damage to agriculture from Helene is still being assessed. See chart at bottom.
RETAIL AND CONSUMER
- 7-Eleven closing 444 stores as they re-structure their business.
- Produce is proving to have great price elasticity.
- Neither Kroger or Albertson’s drive a impressive amount of revenue on a per store basis. But merging mediocrity always guarantees success. But over-charging works, at least until the state intervenes.
- Grabango – the automated checkout company we were impressed by – didn’t make it and is shutting down.
- Costco’s eggnog is relatively high in alcohol so much so that some states ban sales. However the real joy is from homemade stuff. Recipe to be posted this week.
RESTAURANTS AND FOODSERVICE
- Economic study finds California’s minimum wage increase did not reduce employment; prices went up at fast food around 3.7%
- The tasting menu era appears to be drawing to a close. Maybe it is being replaced by chaos cuisine, which seems its logical opposite.
- Restaurant in England charging diners for excessive leftovers.
- Seattle loses its tip credit – trying to influence a move to higher wages.
- McDonald’s accuses suppliers of price fixing, including some long time partners.
- Pizza Hut with an effective program to promote reading.
FOOD SUPPLY CHAIN
- The amount of cows getting Avian Influenza keeps increasing – California very concerned.
- The silly reaction to the port strike, which lasted about 24 hours but resulted in panic buying nonetheless.
- The nutritional value of elderberries.
DRINK CORNER
- Garbage cocktail ingredients – generally agree with this list but will make an exception for Costco margarita mix. It’s perfect for parties.
- Brewpubs are dying left and right.
- Some wisdom about what to order drink-wise before dinner.
- A bar combining absinthe and black magic would only be found in New Orleans. Speaking of witch (ha!) The Sazerac is a great cocktail that requires a precision usually lacking,
- Long drinks and highballs are becoming trendy as people eschew high proof drinks.
FOOD WEEK October 12 LAGNIAPPE
- Portugal is red-hot as a culinary destination. As is Vietnam.
- Dolly Parton is a food mogul.
- A whole bunch of pumpkin recipes that I won’t be making as pumpkin spice has permanently ruined the flavor for me.
- The cult of Dr. Pepper continues to grow.
