THE RENT CRISIS
Alignable's New 2Q22 Rent Report shows the first increase in rent delinquency this year, which could impact SYY customers' ability to pay their bills.
The new findings demonstrate the high toll of escalating costs on the financial stability of small businesses (SMBs) across North America. 33% of U.S.-based SMBs could not pay May rent in full and on time, up 5% from April. In Canada, that figure was 39%. The New Q2 Rent Report also reveals that most U.S. small businesses (52%) have experienced rent increases over the past six months, up 6% from 46% in April. In addition to other inflationary trends, higher rents are elevating rent delinquency rates. Of that 52% majority, 18% say their rent is up by 10% to 20%, and another 14% say it's more than 20% higher than it was just six months ago. This latest data demonstrates that the SMB rent crisis has reached a new and concerning 2022 pinnacle regarding rent delinquency and soaring rent costs. The 2Q22 Rent Report is based on a survey of 5,321 randomly selected small business owners polled between 5/7/22 and 5/31/22.
The Taco Bell of the future
Taco Bell just opened its first "Defy," the fast-food chain's latest concept, in Brooklyn Park, Minnesota.
It's two stories high with four drive-thru lanes: two are for customers picking up mobile orders, and one is for delivery drivers, per Business Insider. The last is for those traditionalists who don't want to order ahead. Here's how it works:
- Drivers check-in at kiosks with QR codes
- Or order from staff via video if they didn't place a mobile order
- When the food is ready, it's dropped down to customers via dumbwaiter-style elevators. Hence, the name "Defy" it's "gravity-defying."
The food elevators are proprietary and were developed by consultancy Vertical Works to reduce service time. Defy promises to deliver orders in two minutes or less. Taco Bell likes to experiment. As for Defy, Taco Bell is already looking to retrofit other locations, per Food & Wine.
Restaurant industry Sales Trends
The Placer.ai data shows casual dining slowing in May while QSR is holding up. We are LONG MCD and SHORT Casual Dining as a theme.
