Centives

  • Home
  • About
  • Contributors
  • Extras
    • Baseball Player Value Calculator
    • Monopoly Property Value Calculators
      • Advanced Monopoly Property Value Calculator
      • Basic Monopoly Property Value Calculator
      • Monopoly Property List
    • Pizza Topping Markup Calculator
  • Greatest Hits

Blog

Search Results

← Previous Entries
Next Entries →

Inside Taco Bell’s Willy Wonkaesque Food Development Lab

9:00 am in Daily Bulletin

J. Bennett had the opportunity to visit Taco Bell’s food development lab. In addition to an expanded waistline he got insights on Taco Bell’s menu development process:

  • Taco Bell is now known for its more esoteric menu items like the Taco Shell made out of Doritos, or a quesadilla inside a burrito.
  • Taco Bell sees itself as a food innovation company. Bringing creative items to the menu is key to remaining relevant by generating headlines in the news, and discussion on social media.
  • Things begin with ideation sessions where as many as 600 ideas a year are considered.
  • For the 30 that are selected for advanced consideration, the next step is to nail down the recipe – an iterative process that requires as many as 40 tries.
  • Reactions are gauged in part through sensory rooms, where tasters are led into small cubicles equipped with cameras to record the reaction as they try the product.
  • The product is then tried out in test markets, and various metrics are measured, such as the ratio of likes to dislikes (7:1 is considered good), percentage of customers who order it (12% is good, though with the Doritos Taco it was 33%), and if the product is generating new sales, or is merely redirecting money from existing products.
  • If the product is received well it rolls out nationally. The entire process takes about six to nine months.
  • Most items that result from this process don’t stay on the menu for too long. Once the buzz has died down and the headlines stop coming, the items are quietly removed.
  • Some of the products that Taco Bell is experimenting with include a burger burrito, a maple-butter flavoured cone filled with crispy chicken, a mac & cheese quesadilla, and multiple variations of food on an edible tortilla stick.

Read more about what it’s like in the labs over here.

Source: Thrillist

Comments Off on Inside Taco Bell’s Willy Wonkaesque Food Development Lab

A Gym For Dogs

9:00 am in Daily Bulletin

Remember that gym membership you signed up for but never use? If it’s any motivation, Steve Hendrix writes that there are dogs that have a more disciplined work out regime than you:

  • Frolick Dogs Canine Sports Club is a 6,000 square foot air conditioned facility with personalized dog trainers.
  • The trainers will help get your pooch in shape by having them run on doggie treadmills.
  • There are also doggie balance balls so your pet can work on its core.
  • All of this costs $50 a month.
  • Pet owners argue that in the summer it’s dangerous for their dogs to run around in the heat, and so an in doors facility is a necessity.
  • Others say that it’s a good service for elderly pet owners who may no longer have the energy to keep up with their pets’ outdoors lifestyle.
  • Like their best friends, dogs vary in their degree of motivation. Some will run on the treadmill for fun. Others require a treat be held just out of reach to encourage them to keep going.

     

Read more about the gym here. And find our entire series on Pet Perks which includes coverage of doggie love motels, doggie restaurants, and doggie tattoos over here.

Source: The Washington Post

Tags: Pet Perks
Comments Off on A Gym For Dogs

Space Food

9:00 am in Daily Bulletin

Christian Millman wrote about some of the unique challenges of providing food for space travellers:

  • The first big step for human space exploration was proving, in 1962, that the human body could consume food in zero gravity.
  • Later in the 1960s astronauts were sent with the freeze dried ice cream that is oddly popular in science stores across the world to this day. Astronauts, for their part, hated it so much that freeze dried space ice cream has never left earth again.
  • More generally astronauts hated the food that they were being sent with enough that there was a mini-insurrection – an astronaut smuggled a corned beef sandwich into space in his space suit.
  • The sandwich created a cloud of floating bread bits that led to Congressional hearings and a promise by NASA to prevent food smuggling in the future.
  • Food boredom seems to increase dietary requirements. Even after upping daily calorie intake to 2,800 NASA found that astronauts were returning to earth having lost substantial amounts of weight.
  • In 1973 Skylab, the predecessor to the ISS, had a menu of 72 items. NASA declared success when astronauts returned home weighing about the same.
  • The next step is to find food that could survive a multi-year trip to Mars and still be considered edible by astronauts.

Read more about the dynamics of space food here.

Source: Discover

Comments Off on Space Food

The Economics Of Diners

9:00 am in Daily Bulletin

Diners are known for their seemingly endless menus, quality food, and wonderful atmosphere. They’re going out of business, writes Aaron Elstein, at least in New York anyway:

  • The number of NY diners has decreased from 1,000 to 398 in a generation.
  • The biggest problem is rent. The extensive inventories require extensive storage space and rent can be as high as $25,000 a month.
  • Employees have to be skilled enough to make 400 different dishes and master 60 different types of salads.
  • Food prices change all the time but updating a diner’s voluminous menu to reflect new prices requires thousands of dollars for new printing.
  • Landlords, for their part, prefer renting space to national chains like Applebee’s because they know they can go to the corporate parent if an individual restaurant owner fails to pay rent.
  • On the other end of the spectrum food trucks are putting pressure on margins by offering short, focused menus which lead to low-priced food.

The full article looks at the Greek origins of diners and interviews owners of some of New York’s best diners. Read it here.

Source: Crain’s

Via: Marginal Revolution

Comments Off on The Economics Of Diners

How Servers Profile Tippers

9:00 am in Daily Bulletin

The next time you go to a restaurant, these are the things that servers are looking at found Jessica Sidman:

  • Long sleeves in the summer indicate a person with cash and good tips.
  • Gay people are also thought to be better than average tippers.
  • Those with reservations are normally searched for on the internet in advance to figure out what they do. The menu recommendations and alcohol price range that is mentioned will be adjusted accordingly.
  • Those that get alcohol early are normally in for a long expensive night and are worth a lot of money.
  • Servers can take control of their tips by accurately assessing the situation. Lawyers have a lot of money but lawyers who won their case should be offered wine, while those that lost should be encouraged to get a Scotch and bourbon.

Read other things that your waiters and waitresses are thinking about you when you walk through the door over here.

Source: Washington City Paper

Via: Marginal Revolution

Comments Off on How Servers Profile Tippers

Rent A Foreigner In China

9:00 am in Daily Bulletin

In a documentary David Borenstein looked at the foreigner renting industry in China:

  • China is in the midst of a construction boom that has left multiple properties in search of a buyer.
  • One way that realtors can boost demand is by renting foreigners.
  • Firms provide menus where customers can select skin colours and nationalities.
  • By having such faces present when interested buyers come around to visit, developers can make an area seem more globalized than it really is.
  • Some of the purchased foreigners will play the role of low level VIPs to further enhance property values.

Watch the full documentary here.

Source: The New York Times

Comments Off on Rent A Foreigner In China

The Pizza Lobby

9:00 am in Daily Bulletin

Andrew Martin reported on a political lobbying group whose aim is to ensure that you get more pizza:

  • Fresh and frozen pizza makers have their own individual lobby groups…and they don’t coordinate or cooperate at all.
  • This is likely because chains such as Domino’s like to call the makers of frozen pizzas “the root of all evil”.
  • The fresh pizza lobby argues though that they don’t just represent big chains like Domino’s, but instead all the little small business pizzerias.
  • Chains such as McDonald’s and Olive Garden have caved and done things like offer calorie counts on menus or offer healthy sides.
  • Not the pizza lobby. They argue that things like calorie counts are unfair because pizzas are endlessly customizable.
  • They further note that calorie counts for an entire pie could be misleading if people only intend to have a slice or two.
  • And anyway most people just call to get their pizza delivered, without a menu in sight.
  • Republicans seem to be more sympathetic to these arguments than democrats.
  • In fact pizza chains overwhelmingly supported Mitt Romney for President in 2012 – even though the candidate was rumoured to pull the cheese off his pizza before eating it.

Read about the battle to get pizza to qualify as a vegetable, the future of the pizza lobby, and more over here.

Source: Bloomberg

Tags: Foodonomics
Comments Off on The Pizza Lobby

Restaurants Prefer You Skip Dessert

9:00 am in Daily Bulletin

Roberto Ferman writes that most eateries would prefer you skipped the sweet dish:

  • While diners are willing to pay $20-$30 for entrees, they are rarely willing to pay even close to that amount for dessert.
  • Yet desserts require the same high quality ingredients as other entries on the menu, driving margins down.
  • Dining establishments also have to hire a specialist pastry chef and reserve space in the kitchen to serve you pudding.
  • Some restaurants have given up on serving their own desserts and instead just outsource it to third party companies.
  • But this doesn’t solve the problem of diners hanging around, preventing the next set of paying customers from getting a table.

Read why restaurants want to encourage the consumption of dessert wines, why Yelp means that the dessert menu lives on, and more over here.

Source: The Washington Post

Tags: Foodonomics
Comments Off on Restaurants Prefer You Skip Dessert

Drive-Thrus

9:00 am in Daily Bulletin

Brad Tuttle assembled 10 facts about drive-thrus. Some of the more interesting ones include:

  • Drive-thrus are getting slower. This year the average wait time is a record 203 seconds. Centives has previously noted that for every extra second that customers have to wait at a drive-thru, restaurants have to lower their prices by four cents.
  • Drive-thrus are quickest in the morning when people have fairly simple orders for coffee, and during the mid-afternoon ‘snack’ hours.
  • They’re slowest during lunch when people are likely to order for multiple people and menus usually expand to include more items.
  • Wendy’s has the quickest drive-thru. Chick-fil-A has the most accurate drive-thru with 87% of drive-thru orders being correct.
  • The first drive-thru opened in 1947. McDonald’s opened its first drive-thru several decades later in 1975.
  • 40% of Starbucks locations now have drive-thrus and this proportion is set to grow.
  • Chipotle refuses to open drive-thrus. Analysts argue that it would destroy the experience of being able to see the fresh ingredients being put together.

Read other facts, find out which restaurant has the least accurate drive-thru, and find out why Panera studied drive-thrus for ten years before deciding to introduce one over here.

Source: Time

Tags: Foodonomics
Comments Off on Drive-Thrus

How Restaurants Cut Corners

9:00 am in Daily Bulletin

There was an uproar when it was discovered that Olive Garden doesn’t salt the water in which it serves its pasta. That’s just the beginning of what the restaurant industry does to try to cut costs wrote Olga Oksman:

  • Serving steak with heavier cutlery will lead customers to think that the steak they’re eating is higher grade than it really is.
  • If food prices jump then restaurants may decrease the size of dinner plates, thus serving smaller portions for the same price.
  • Playing around with the amount of foam in glasses of beer can save up to 20 beers per keg.
  • Overpricing common wines will outrage customers. Which is why restaurants purchase wines not commonly available then overprice those.
  • The Patagonian toothfish sounds like an unappealing dish. Call it Chilean Sea Bass instead and voila you have a fancy sounding meal.
  • Patrons first glance at the middle of a single page menu. Therefore restaurants will place their highest margin items in that area.
  • One restaurant asked its employees to park in front of the restaurant to make it seem busier than it actually was. When it actually filled up workers moved their cars to the back.

Read other tricks of the trade, find out why you always get a new beer glass rather than a refill of your old one, and why opening a restaurant still isn’t all that lucrative even after all of this over here.

Source: The Guardian

Tags: Foodonomics
Comments Off on How Restaurants Cut Corners

← Previous Entries
Next Entries →

Search

Random entries

  • The Economics Of Turkey Prices
  • The Economics Of Star Wars Toys
  • The Economics Of Facebook Reaction Buttons
  • The History Of Cotton Candy
  • The Economics Of Zara

Stay in Touch

Twitter

Facebook

Email

RSS Centives RSS

  • Surge Pricing Comes To The Restaurant Industry
  • People Are Using Ubers Instead Of Ambulances
  • Why Have A President When You Can Have A Monarch?
  • The Economics Of A Las Vegas Residency
  • Silicon Valley Companies Are So Full Of Men, Women Had To Be Hired For The Holiday Parties
  • What Office Chairs Say About Our World
  • There Are Olympics For Valets
  • Eliminating The Penny Could Hurt The Poor

Join the Discussion! (No Signup Required)

  • Brian Morgan on Advanced Monopoly Property Value Calculator
  • Anonymous on Is Batman Keeping Gotham City Poor?
  • fish on Forrest Gump’s Running Route
  • Anonymous on How Much Does It Cost To Host The Hunger Games?
  • Rora on How Much Would It Cost To Build The Death Star?

Please Support Our Sponsors

What We Read

  • Cracked
  • Freakonomics
  • Marginal Revolution
  • Newmark's Door
  • Salon
  • Slate
  • The Economist
  • Wired

Categories

  • Announcement
  • Daily Bulletin
  • Editorial
  • Signature
  • Snips
  • Top

It would help us immensely if you checked out their products:



Centives is proudly powered by WordPress and BuddyPress. Just another WordPress Theme developed by Themekraft.
  • Camisetas de fútbol
  • cheap nfl jerseys
  • cheap jerseys from china
  • cheap nhl jerseys