Inflation has been on everyone’s minds because of the fact that this is the sort of thing that could potentially end up reducing the value of their income and making everything else more expensive. Since Yelp is a central directory of food related businesses, its quarterly report called the Yelp Economic Average can show some important facts about the nature of the industry right now. Yelp’s report for the third quarter of 2022 has just been published, and here’s what it had to say.
Yelp has reported a 4% quarter over quarter increase in the use of language related to inflation, and with all of that having been said and now out of the way it is important to note that this represents a 22% increase compared to the third quarter of 2022. That indicates that inflation is becoming a greater concern for consumers than might have been the case otherwise.
As for reviews being left for various food related businesses, mentions of inflation in these reviews have gone up by 31% with all things having been considered and taken into account. Inflation mentions in reviews for restaurants specifically have seen a 28% increase according to this report released by Yelp.
Interestingly, restaurants who are offering pan Asian cuisines have seen an especially sharp rise in inflation related complaints. These restaurants have seen inflation reports increase by 24% year over year, with Mongolian restaurants being hit the worst with an 89% increase that indicates that complaints related to inflation have nearly doubled in the span of a year.
The donut industry has been quite popular, but in spite of the fact that this is the case it too is not immune to inflation related complaints. Stores and chains offering donuts saw inflation complains rise by a dramatic 49% year over year. Consumers are also looking for budget restaurants due to rising prices, with an 11% increase being noted in searches related to budget dining and grocery options. Inflation has left many industries in turmoil, and food businesses may be bearing the brunt of the ire of consumers contending with decreased purchasing power.
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Yelp has reported a 4% quarter over quarter increase in the use of language related to inflation, and with all of that having been said and now out of the way it is important to note that this represents a 22% increase compared to the third quarter of 2022. That indicates that inflation is becoming a greater concern for consumers than might have been the case otherwise.
As for reviews being left for various food related businesses, mentions of inflation in these reviews have gone up by 31% with all things having been considered and taken into account. Inflation mentions in reviews for restaurants specifically have seen a 28% increase according to this report released by Yelp.
Interestingly, restaurants who are offering pan Asian cuisines have seen an especially sharp rise in inflation related complaints. These restaurants have seen inflation reports increase by 24% year over year, with Mongolian restaurants being hit the worst with an 89% increase that indicates that complaints related to inflation have nearly doubled in the span of a year.
The donut industry has been quite popular, but in spite of the fact that this is the case it too is not immune to inflation related complaints. Stores and chains offering donuts saw inflation complains rise by a dramatic 49% year over year. Consumers are also looking for budget restaurants due to rising prices, with an 11% increase being noted in searches related to budget dining and grocery options. Inflation has left many industries in turmoil, and food businesses may be bearing the brunt of the ire of consumers contending with decreased purchasing power.
