Customers encouraged dine out across Australia as part of American Express Delicious. Month Out

Sydney Morning Herald05-04

As the hospitality sector continues to struggle across the country, restaurant owners are working on creating experiences to entice customers battling with cost of living pressures.The latest data ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2432167963?lang=en_US&edition=fundamental","thumbnail":"https://images.perthnow.com.au/publication/C-14544535/0ab056488e9359cb7744622f2020efc3d2963f2e-16x9-x0y0w2048h1152.jpg","is_english":true,"pubTime":"2024-05-04 11:51","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2432167963","market":"us","top_or_hot":-1,"title":"Customers encouraged dine out across Australia as part of American Express Delicious. Month Out","media":"Sydney Morning Herald","content":"<div>\n<p>As the hospitality sector continues to struggle across the country, restaurant owners are working on creating experiences to entice customers battling with cost of living pressures.The latest data ...</p>\n\n<a href=\"https://www.perthnow.com.au/business/customers-encouraged-dine-out-across-australia-as-part-of-american-express-delicious-month-out-c-14544535\">Source Link</a>\n\n</div>\n","source":"perthnow_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Customers encouraged dine out across Australia as part of American Express Delicious. Month Out</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCustomers encouraged dine out across Australia as part of American Express Delicious. Month Out\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-04 11:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.perthnow.com.au/business/customers-encouraged-dine-out-across-australia-as-part-of-american-express-delicious-month-out-c-14544535><strong>Sydney Morning Herald</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As the hospitality sector continues to struggle across the country, restaurant owners are working on creating experiences to entice customers battling with cost of living pressures.The latest data ...</p>\n\n<a href=\"https://www.perthnow.com.au/business/customers-encouraged-dine-out-across-australia-as-part-of-american-express-delicious-month-out-c-14544535\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4211","symbol_name":"区域性银行","start_time":0,"source_url":"https://www.perthnow.com.au/business/customers-encouraged-dine-out-across-australia-as-part-of-american-express-delicious-month-out-c-14544535","article_id":"2432167963","we_media_id":null,"thumbnails":["https://images.perthnow.com.au/publication/C-14544535/0ab056488e9359cb7744622f2020efc3d2963f2e-16x9-x0y0w2048h1152.jpg"],"rights":{"source":"perthnow_stock","url":"https://www.perthnow.com.au/business/customers-encouraged-dine-out-across-australia-as-part-of-american-express-delicious-month-out-c-14544535","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2432167963","pubTimestamp":1714794671,"sourceInfo":{"source_id":"perthnow_stock","name":"PerthNow"},"weMediaInfo":null,"summary":"Restaurant owners are finding creative ways to entice customers to dine in amid increasing cost of living pressures.","collect":0,"end_time":0,"defaultTopTitle":"perthnow.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4211":"区域性银行","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","LU1861217088.USD":"贝莱德金融科技A2","XAO.AU":"标普/澳交所 普通股指数","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","XJO.AU":"标普/澳交所 200指数","BK4559":"巴菲特持仓","LU1861220207.SGD":"Blackrock FinTech A2 SGD-H","BK4166":"消费信贷","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","XKO.AU":"标普/澳交所 300指数","BK4588":"碎股","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","LU2552382215.SGD":"WELLINGTON US BRAND POWER \"A\" (SGDHDG) ACC","LU1267930490.SGD":"TEMPLETON GLOBAL EQUITY INCOME \"AS\" (SGD) INC A","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","LU2552382058.USD":"WELLINGTON US BRAND POWER \"A\" (USD) ACC","LU2552382132.HKD":"WELLINGTON US BRAND POWER \"A\" (HKD) ACC","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","LU1917777945.USD":"安联专题基金Cl AT Acc","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","CUBI":"Customers Bancorp Inc.","AXP":"美国运通","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU0266013472.USD":"AXA WF - Framlington Longevity Economy A Cap USD","BK4585":"ETF&股票定投概念","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD"},"translate_title":"作为美国运通美味的一部分，顾客被鼓励在澳大利亚各地外出就餐。月外","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"XKO.AU":1,"XJO.AU":1,"XAO.AU":1,"AXP":1,"CUBI":1},"content_text":"As the hospitality sector continues to struggle across the country, restaurant owners are working on creating experiences to entice customers battling with cost of living pressures.The latest data from the Restaurant and Catering Association industry benchmark report found a quarter of businesses surveyed made a loss in their turnover last financial year.For hospitality businesses, May is generally regarded as one of the quietest months, attracting only 1.79 per cent of revenue.Many are looking at ways to provide customers more incentive to dine with them, including through the American Express Delicious Month Out event launching across Sydney, Melbourne, Brisbane and Adelaide last Wednesday.TheNightlyGet in front of tomorrow's news for FREEJournalism for the curious Australian across politics, business, culture and opinion.READ NOWCamera IconThe AMEX Delicious Month Out event offers customers great deals across the country. NCA NewsWire/Tertius Pickard Credit: News Corp AustraliaRestaurant and Catering Australia chief executive Suresh Manickam said May was a great time to discover a new local favourite restaurant with many businesses showcasing their new season menus.“Additionally, the rush from the Christmas holidays is over so finding a booking is much easier than it was a month ago,” he said.“More than two thirds of restaurants are family owned and operated.“By dining out you’re supporting your local community, ensuring variety in dining choices and experiencing the tastes of the new season.“Australia’s restaurant culture is the best in the world.“Restaurateurs are keen to showcase some of Australia’s best produce and wine and to ensure that you have a memorable dining experience.”In May 2023, American Express Card members spent $47.5 million at participating retailers.Camera IconRestaurant and Catering Australia chief executive Suresh Manickam says people should be supporting local restaurants. Supplied Credit: SuppliedBrisbane based restaurant owner Tarryn McMullen – who operates Mrs Browns Bar and Kitchen and Stratton Bar and Kitchen in Newstead – said campaigns like this were a great way for operators to be creative in providing a great space for their customers.“We participated last year at both venues, and we had people coming in specifically for our offer,” Ms McMullen said.“We’ll come up with something novel if we can.”Ms McMullen said she understood cost of living had a big impact on her customers but she found by offering different experiences, it ensured the consumer found value for their hard earned money.“Cost of living has definitely impacted customer spending, we’re still seeing a similar number of people come out but they're definitely having a lot more discretion in what they buy,” Ms McMullen said.“There’s a big demand for experiences whether that’s wanting to feel special or find good value for money.”Camera IconTarryn McMullen, owner of the Stratton Bar and Kitchen in Brisbane, says she hopes people can keep supporting local businesses despite cost of living pressures. NCA NewsWire/Tertius Pickard Credit: News Corp AustraliaMs McMullen said customers were now being “much more discerning about their hard earned money” than ever before.“In terms of actual spending habits, they might treat themselves to a large bottle of wine instead of multiple cheaper glasses of wine,” she said.The pressure to provide affordable menus for customers while also balancing the books is certainly common for many restaurants who have experienced a 46 per cent recording a drop in their net profit in the past three years, according to the Restaurant and Catering Association’s report.Meanwhile, more than a third (37 per cent) of business owners expect their profits will decrease in the next 12 months.Business Sydney executive director Paul Nicolaou said restaurants across the country were facing many challenges to keep afloat.“The hospitality sector is facing an unprecedented combination of factors that have left restaurants and cafes in a fragile condition,” he said.“The high cost of energy and inflexible IR laws are making it difficult to operate profitably.Camera IconAussies are being encouraged to head out to their local restaurant in May as part of the AMEX Delicious Month Out event. NCA NewsWire/Tertius Pickard Credit: News Corp AustraliaCamera IconCreditorWatch chief economist Anneke Thompson says cost of living pressures is impacting the food and beverage industry. Supplied Credit: Supplied“All of this is happening as the general cost-of-living crisis is discouraging consumers from spending on dining in restaurants and cafes.“We know it’s tough out there but the best thing the community can do is to support the hospitality sector as fully as they can.“Going out for a meal could make a positive difference.”CreditorWatch chief economist Anneke Thompson said seven in every 100 food and beverage business are forecast close in the next 12 months.“That’s by far and away the highest of all the industries,” she said.“Certainly we see in our Credit Watch index report the food and beverage sector is being impacted probably more than any other industry.“The rates of external admission and business failures have increased.“A lot of the businesses are a small, a lot are mum and dad operators heavily reliant on foot traffic.”However, Ms Thompson said customers demand for restaurant spending has been unusual in the last few months.Camera IconTarryn McMullen says the most important thing is ensuring the customer enjoys their dining experience. NCA NewsWire/Tertius Pickard Credit: News Corp Australia“Mid last year there had been the factors on the cost of living side of things but customers were still eating out in really good numbers,” she said.“However that spend plateaued around August last year, which is unusual because we usually see it going up over the holidays.“It seems consumers have sort of reached their limits.”However, owners like Ms McMullen are also ensuring they put in the extra work to ensure their staff are providing the best service possible for customers.“People still want to go out and venues like ours are still key places for people to catch up,” she said.“We’ve spent a lot of time training and investing in our team super laser focused on service, that’s how we can stand out from our competitors.”","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2432167963"}