John Spry, a professor in the Department of Finance at the University of St. Thomas Opus College of Business, spoke with KSTP on how restaurants are becoming more creative and competitive as inflation and economic uncertainty continue to influence consumer behavior.
From the article:
A Minneapolis restaurant in the North Loop is testing smaller plates and lower prices as it looks for a way to bring more diners back.
John Spry, a finance and economics expert at the University of St. Thomas’s Opus College of Business, said the move is one way restaurants can stand out in this economy. He said more businesses are being forced to get creative and aggressive, and that can benefit customers.
“This is a form of differentiation. This is a common business strategy,” said John Spry.
“You are getting the quality of their chef, but smaller plates at a smaller price point,” said Spry.
