More than 35% of shrimp sold in the U.S. is mislabeled by species or type, National Geographic says. The charge comes from a new study issued by environmental advocacy group Oceana and supported by similar studies by FDA that found up to 15% of all fish in U.S. markets and restaurants is mislabeled. The problem was worse in New York, where up to 43% of shrimp were mislabeled. Washington, D.C. and the Gulf Coast were almost as bad. Portland OR had the best showing with only 5% of shrimp mislabeled.
Speaking Of Fish…
The monthly prices for imported fish and lobster were up this month. Prices for domestic, farm-raised shrimp were down significantly. Pricing for domestic scallops, snow crab, and fillets held firm in October. Tuna steaks increased due to tight supplies, while salmon prices also went up, since this year’s harvest was nearly 50% less than last year. While clam supplies have been steady, prices increases of 6% or more are also expected. Finally, crab prices are up due to growing global demand and an expected shortage that is 30% less than a year ago
The Low Down On Apple Pay
Everyone seems to be talking about Apple Pay, the new app that proponents say will do away with credit cards. They said that about Google Wallet, too, but where has that gone? Anyway, QSRWeb feels it is a safe bet to assume that Apple Pay will restart the engines on mobile payment options. Will it impact your business? Absolutely, considering that in 20 years most people have moved from cash to credit when it comes to paying their restaurant bill. And just like the credit card companies, Apple intends to take a 25 bit per second fee on every transaction coming from their wallet. One more thing: With nearly 90 percent of customers wielding a smartphone, the shift to mobile payments will be a 3-to-5 year transition, not a 15-year one.
McDonald’s Is Losing Family Business
In a report by National Restaurant News, Jonathan Maze states that McDonald’s is losing market share – and money – because it is losing families to restaurants like Chick-fil-A, which is now No 1. among family diners. How did this happen? Kids and parents just like it better. The company geared lots of advertising to families and even targeted schools and churches with its family-friendly messages. That is not to say that McDonald’s is starving for family business. Far from it, but it is not really growing either. Watch for Mickey D to fight back to regain market share. In the meantime, the lesson learned here is good for all of us: know your audience and make sure you do all you can to keep serving those who keep you in business.
Celebrate The Reuben
Legend has it that New York's Arnold Reuben of Reuben's Deli slapped together some corned beef, Swiss cheese, Russian dressing, and topped it off with German sauerkraut between two slices of Jewish rye to create...you guessed it...the Reuben. That was supposedly 100 years ago and is the matter of some debate among foodies. What is not debated is the popularity of the famed Reuben, which many restaurants are now featuring to celebrate its 100th. Why not join the celebration?
Pasta Maker Predicts Higher Prices
A. Zerega’s Sons of New Jersey announced that it will double prices on its pasta products due to the rising cost of wheat. The 166-year-old company says that it can no longer foot the bill for price increases of wheat in making 100 million pounds of pasta annually. Wheat prices have increased recently due to wet weather that damaged crops and reduced production, and Zerega sees prices increasing across the industry. The company has its own brand — Columbia, reports NorthJersey.com, but much of its product goes to major restaurant chains, national food service distribution companies, and customers such as Nestlé, ConAgra, General Mills, Kraft, and Tyson.
GE Capital Looking To Underwrite Restaurant Growth
GE Capital Financial Services is proactively approaching restaurants with an offer to help finance growth beyond what traditional funding sources might provide, QSRWeb reports. "The US economy continues to strengthen, and the public’s interest in dining away from home shows no signs of abating," said Todd S. Jones, senior managing director of brand management at GEFF, in the release. "We’ve analyzed the current market dynamics and we’re excited to provide financing to more operators."