I find the perceived sensitivity to food pricing, especially in high income areas like NYC, interesting.
The author points out that in 8 years, the average cost of a slice of pizza has hardly moved, but the amount of sauce on them has been reduced as a cost cutting measure.
Would a pizza place really see reduced traffic if they kept the same recipe and raised their price another $0.55 to compensate for inflation?
I stopped eating out almost entirely because throughout the 2010s, I feel like the probability of receiving an acceptable quality meal kept declining.
I would much rather pay $25 (or more) per meal that is good 99% of the time than pay $15 for a meal that is good 80% or 60% or 40% of the time.
Obviously, I am sure restaurant operators know their business, and maybe it just is not economical for prepared food to be good 99% of the time at a price that sufficient sales can be made.
The author points out that in 8 years, the average cost of a slice of pizza has hardly moved, but the amount of sauce on them has been reduced as a cost cutting measure.
Would a pizza place really see reduced traffic if they kept the same recipe and raised their price another $0.55 to compensate for inflation?