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Beaubble Raises Over $2M To Date With Latest Funding Round

Beaubble

Leading beauty community-driven brand and platform, Beaubble, announces today that they have raised over $2M to date for the company during their latest round of funding with lead investor Bling Capital along with Graph Ventures, Goodwater Capital, Steve Chen (Co-Founder and Former CTO of YouTube), Jung-ju Kim (Founder of Nexon and Partner at Collaborative Fund), and more. Co-founded by Jun Young (Jordan) Lim, Beaubble is the first truly community-driven digital beauty studio that co-launches brands and products with talent (including influencers, celebrities and models, content creators, and more). Talent partners with Beaubble to actively engage her audience in developing new products, encouraging fans to share feedback on formulation and provide input on design via conference calls and conversations on beaubble.com in addition to existing social media channels. With this innovative process, Beaubble is democratizing the product development process and equipping consumers to decide what they want from their beauty brands, not the other way around. Beaubble also utilizes pre-order product drops to more accurately measure demand and bypass retailers to fulfill directly to consumers. By allowing demand to shape supply, Beaubble is able to avoid overproduction and reduce waste in beauty. In March 2020, the platform co-created the luxury skincare line Monday Born alongside beauty influencer Teni Panosian. Bling Capital, a San Francisco Bay Area based venture capital investment firm, led the company’s recent seed financing. Bling Capital primarily invests in consumer tech, internet, mobile, marketplace, data, fintech, SaaS, and automation sectors. Founder Ben Ling served in senior operating roles at Google, Facebook, and YouTube prior to working at Khosla Ventures as General Partner and then launching Bling Capital. He has backed ten+ unicorn startups with early stakes in Airtable, Lyft, Palantir, and Square among others. Ling comments, "The future of beauty will be driven by influencers and community — no longer through department stores and malls. Further, consumers will be deeply involved in product creation and working with influencers for more authentic experiences and products. Beaubble enables influencers to create world-class products with their communities, while abstracting away the complexities of creating and launching new products." Beaubble plans to use the funding to elevate the brand’s platform, increase community outreach and support its rapid growth in influencer launches and collaborations. Including two new lines with model Elsa Hosk and content creator Ellie Thumann that launched October 21st, Beaubble has at least five more partnerships and collaborations that will be announced by early 2022. "The need to displace legacy business models and channels with innovative techniques and approaches is further accentuated now. We believe Beaubble has a place in that new post-crisis world, and we are thrilled to benefit from the advice and experience of seasoned consumer investors and tech luminaries as we help bring about truly inclusive, community-driven beauty." - Jordan Lim, Co-Founder of Beaubble Contact Details OGAKI Malinda Torres mtorres@ogakidigital.com Company Website https://beaubble.com/home

November 01, 2021 09:01 AM Eastern Daylight Time

Greenland’s Prime Minister to Keynote ZESTAs COP26 Burns Supper

Morgan Marketing & Communications

Prime Minister of Greenland, Múte Bourup Egede, will be delivering the keynote address at ZESTAs COP26 Burns Supper on Monday, November 1 st hosted by SHIFT clean energy. The supper will conclude the first day of Ship ZERO hosted by ZESTAs (Zero Emissions Ship Technology Association) in Glasgow as part of the COP26 activities. It is expected that the Prime Minister will be announcing a major Greenland government initiative relating to fossil fuel use. "With the Arctic warming at a rate three times faster than the rest of the world, we are in Greenland experiencing the drastic changes first-hand “stated the Prime Minister. “The science is alarming and our collective actions must be accelerated. That is why the Government of Greenland has announced an immediate halt to all new oil and gas explorations and are putting all efforts into developing our green energy sources. We believe that Greenland can become an important partner for zero-emission shipping. We have huge untapped hydropower resources that exceed our domestic demand multiple times, which can generate cheap renewable electricity for e-fuels, and we have an infrastructure well suited for being early adapters." “Ship ZERO 0 – Charging to True Zero” is a three-day workshop including robust technical presentations from zero-emissions solutions providers, as well as finance, insurance, classification sectors and regulators. Speakers’ panels, audience Q&A, and brainstorming sessions will follow each session to facilitate collaborative solution building, as well as giving stakeholders an opportunity to examine how solutions will fit with their individual business cases. The event takes place well before COP26 transport day, which will give the team of researchers and stakeholders time to summarize the outcomes to be taken in consideration by regulators beforehand. “We are honored that Prime Minister Egede will be making such a pivotal keynote address as part of our event”, stated Madadh MacLaine, Secretary-General of ZESTAs. “His leadership will resonate around the globe as we address a zero emission future.” Highlights of the ShipZERO conference include a keynote by Peter Thomson, Ambassador and Permanent Representative of Fiji to the United Nations as well as the UNSG’s Special Envoy for the Ocean on A healthy planet requires a healthy ocean, a healthy ocean requires clean shipping; Why Zero Emissions Needs Better Battery Safety Standards, delivered by Brent Perry, ZESTAs Board Chair and CEO of SHIFT; and How Financiers, Insurers and Cargo owners can enable innovation and accelerate the transition to true zero emissions from Michael Parker, Chairman of Global Shipping, Citibank and Chairman of the Poseidon Principles Association. Registration is still open, and media are welcome. Go to https://zestas.org/ship-zero/ The Zero Emissions Ship Technology Association promotes the rapid and large-scale uptake of Zero Emissions Ship Technology (ZEST). Zero emissions means zero GHG emissions at the point of use on the vessel with minimal upstream impacts. By combining zero emission technologies, it is possible to achieve zero emissions at the shipboard level faster. With today’s technologies, the shipping industry can achieve fully zero emissions now, particularly on smaller return to base vessels, as well as drastically reduce emissions on larger, ocean-going vessels with more complicated operational profiles. Contact Details Morgan Marketing & Communications Carleen Lyden Walker +1 203-260-0480 c.walker@morganmarketcomm.com Company Website https://morganmarketcomm.com/

October 29, 2021 01:00 PM Eastern Daylight Time

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BitX Funding Connecting Clients with the Right Lender and Right Loan!

BitX Funding

Fairfield, CT., Oct 27, 2021—BitX Funding is the premier lender for your business needs. All the specialized loans you can hope for, from startup to short term, can be secured through a quick application process. Founder Todd Rowe has a 20-year history of service in the financial sector and shows no signs of slowing down. “We’re coming out of the pandemic and business owners are starting to open up. They’re starting to have a need for liquidity to take on new opportunities,” says Rowe. “BitX Funding is the perfect answer to their problems because we have all the right lenders and all the rights loans to make the connection.” Rowe knows BitX Funding can serve those niche industries with the upmost care and attention. He has seen it firsthand. A perfect example of this is the transportation industry. “Trucking and transportation is hot right now. The Port of California is backed up, and they need truckers to come in and move products around the U.S. We’re here to get them the equipment financing they need to get their business started,” says Rowe. Small business owners are often intimidated by the amount of options out there. FinTech’s and alternative lenders relieve the pressure from having to call up a bank, waiting months to hear back. You are guaranteed to get an answer within days. The focus is on you: the human on the other line. That’s the BitX Funding difference. We connect you with the right lender and the right loan. BitX Funding is an omnichannel marketplace for small business loans and business insurance. BitX connects its clients with the right loan and lender from SBA 7a, start-up loans, short-term loans, mid-term loans to merchant cash advances, and business lines of credit. BitX is where lenders compete for your business. Our top-rated lenders focus on real-life business data and cash flow, which means you can qualify for small business loans even if your credit score isn’t perfect. We care about small businesses and it’s our mission to secure the right funding when you need alternative small business loans within our small business loan marketplace. Contact Details BitX Funding L.L.C Todd Rowe +1 203-763-1430 info@bitxfunding.com Company Website https://www.bitxfunding.com

October 28, 2021 11:05 AM Eastern Daylight Time

British cyber security startup Risk Ledger secures £2.1m funding as supply chains hit the headlines

Risk Ledger

British cyber security company Risk Ledger has today raised £2.1 million in seed funding. The funding round was led by Finnish VC Lifeline Ventures with participation from Seedcamp, firstminute Capital, Episode 1 and Village Global. This news comes hot on the heels of a flurry of new customers including NHS Test and Trace, wealth management giant Quilter, and tech unicorn Snyk. The Risk Ledger platform is a first of a kind global network of connected organisations, all working together to defend as one against cyber attacks. This game changing approach makes the platform ideal for almost any organisation trying to identify, measure and mitigate supply chain risks regardless of industry. Supply chain cyber breaches often result in personal data such as payment details, addresses and medical records being accessed by unauthorised third parties. Major supply chain cyber security breaches in 2021 at Accellion, Solarwinds and Microsoft have put the challenge of defending against supply chain breaches at the top of the agenda for every large organisation globally. Haydn Brooks, founder and CEO at Risk Ledge r commented: “The past 18 months have been a period of rapid growth in the company. We grew our client base and our user numbers have sky-rocketed despite the significant economic disruption caused by the pandemic. We have expanded the product into non-cyber security factors, including ESG and financial supply chain risks. Testament to the wider scope of the platform, we are now engaging procurement leaders in companies as well as their information security counterparts. This investment will help us grow our team and operations to fully capitalise on the heightened focus on supply chain security driven by all the new regulations and high-profile breaches.” Risk Ledger's client base includes a wide range of organisations including NHS Test & Trace, BAE Systems Applied Intelligence, City of London Police, Schroders Personal Wealth and ASOS among others. Recently, the Risk Ledger platform was able to help the NHS Test & Trace team identify complex vulnerabilities in multiple interdependent suppliers that provide key reagents to the organisation. These systemic risks within supply chains often go undiscovered and in this case could have caused weeks of disruption to the UK’s ongoing COVID-19 response in the event of a cybersecurity incident. Petteri Koponen, founding partner at Lifeline Ventures said: “We wanted to be part of Risk Ledger’s growth journey because they have the right product at the right time. With supply chain breaches becoming mainstream and regulators globally mandating better management of the risks, the Risk Ledger platform is in a fantastic position to become the industry agnostic tool of choice and penetrate the market extensively. The potential for the platform to proliferate virally is also unique. Capturing 30% of the UK water market in just over a year shows this possibility which is exciting for us.” Risk Ledger is a rising star of the UK's growing cyber security industry having won competitions run by the UK Government's National Cyber Security Centre, the tech industry body TechUK and most recently a winner in the Department for Digital, Culture, Media, and Sport’s ‘Most Innovative UK Cyber SME of the Year’ competition. The company is also a member of the UK Government backed LORCA programme (London Office of Rapid Cybersecurity Advancement). About Risk Ledger Risk Ledger is a British company that manages cyber security risks in supply chains. The process of supply chain security risk management ensures third parties who deliver critical services, have access to data, corporate networks, or any other status of business trust, maintain a good base level of cyber security controls to prevent bad actors using the third party as an attack vector. Risk Ledger's client base includes organisations like BAE AI, City of London Police, Telenor, Schroders Personal Wealth and ASOS. Risk Ledger is a rising star of the UK's growing cyber security industry having won competitions run by the UK Government's National Cyber Security Centre, the tech industry body TechUK and most recently a winner in the Department for Digital, Culture, Media, and Sport’s ‘Most Innovative UK Cyber SME of the Year’ competition. The company is also a member of the UK Government backed LORCA programme (London Office of Rapid Cybersecurity Advancement). Contact Details Risk Ledger Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://riskledger.com/

October 28, 2021 08:00 AM Eastern Daylight Time

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Cyvatar Named Finalist in Computing Security Excellence Awards 2021

Cyvatar

Cyvatar today announced that it has been chosen as a finalist in Computing’s Security Excellence Awards 2021 for the Small and Medium Enterprise (SME) Security Solution Award. Computing celebrates the achievements of the IT industry's leading security companies, solutions, products, and personalities that keep every other part of the industry operating. Award categories include product- and project-related recognition, organizational achievements, and accolades for outstanding individual success. Computing selected Cyvatar for its cybersecurity-as-a-service (CSaaS) platform, designed with SMEs in mind. SMEs are increasingly at the mercy of ransomware attacks, phishing scams, and other cyber threats, but unlike larger orgs, most SMEs don’t have the budget or expertise to invest in comprehensive in-house security programs. Moreover, they struggle to show value from the security tools they do buy. Cyvatar CSaaS democratizes cybersecurity, making the best protection accessible and affordable for any SME regardless of budget, even if they have no cybersecurity expertise in-house. Customers can select the membership and pricing that meet their desired business outcomes in seconds; a freemium model ensures they can achieve tangible results fast with no out-of-pocket costs--an industry first. And they can cancel anytime--another industry first. “We don’t throw technology over the wall and expect our customers to figure it out themselves the way many product companies do,” said Corey White, Cyvatar co-founder and chief executive. “We deliver all three pillars of cybersecurity—the teams, technology solutions, and best practices—to SMEs that would not otherwise be able to implement them. Our subscription model ensures they don’t end up buying solutions they can’t use or don’t need, and our platform lets them see at a glance what’s going on in their environment to give them the best cyber prevention available.” Cyvatar offers its proprietary ICARM™ (install, configure, assess, remediate, maintain) methodology to deliver smarter, more efficient solutions, allowing SMEs to achieve security compliance and cyber-attack prevention faster and more effectively. ICARM ensures SMEs won’t get crushed under the weight of too many products, and guaranteed outcomes mean they get maximum value from their technology spend. Choose the Cyvatar membership with the best outcomes for your business today. About Cyvatar Cyvatar is committed to effortless cybersecurity for everyone. As the industry’s first subscription-based, cybersecurity-as-a-service (CSaaS) company, it’s our mission to transform the way the security industry builds, sells, and supports cyber solutions. We empower our members to achieve successful outcomes by providing expert practitioners, market-leading technologies, and proven best practices to guarantee business results. Our approach is rooted in a proprietary ICARM (installation, configuration, assessment, remediation, maintenance) methodology that delivers measurable security solutions for superior compliance and cyber-attack prevention, all bundled into a fixed monthly subscription that members can cancel anytime. Cyvatar is headquartered in Irvine, California, with locations around the world. Begin your journey to security confidence at cyvatar.ai and follow us on LinkedIn and Twitter. Contact Details Cyvatar Dan Chmielewski +1 949-231-2963 dchm@madisonalexanderpr.com Company Website https://cyvatar.ai/

October 28, 2021 08:00 AM Eastern Daylight Time

Spiceology Lands on Shelves at Ace Hardware, Making Ace The Helpful FLAVOR Place

Spiceology

Spiceology Inc., the fastest growing spice company in America, has announced a partnership with Ace Hardware that enables Ace retailers to carry the leading spice company’s innovative signature blends and collaboration products, further bolstering the nationwide retailer's reputation as a flavor and grilling destination. The entire 23 item Spiceology planogram can now be ordered through the Ace Retail Service Center. In the first 30 days, over 400 franchises stocked their shelves with Spiceology. In the last five years, Ace has seen a 36% growth in BBQ, and expects to see this trend continue. The addition of Spiceology is another step toward being a trusted resource for every type of griller and home cook. “At Ace, we consider ourselves an important part of each of our local communities, and we want to provide our customers with everything they need to make their homes a better place,” said Paige Roszkowski, BBQ Fuel & Accessories Associate Merchant. “We are not just a hardware store anymore, and we’ve reworked our focus internally to give growing sections of the business the deserved attention, including our grilling sections. We’ve seen immense growth in the BBQ space, and we’re excited to have Spiceology on our shelves, showing that premium quality blends should be a staple in everyone’s household.” According to Ace CMO Kim Lefko, in 2020, Ace attracted younger shoppers, more new home buyers, and more women than ever before. And while Ace carries other grilling spice blends, the addition of Spiceology’s diverse and easy-to-use blends highlights the company’s expansion from the grill to the kitchen. As a premium spice and flavor company, Spiceology’s products are made with Grade A ingredients and are ultra-versatile for whatever you are grilling, cooking or creating. Spiceology’s flavor experts develop innovative and easy-to-use blends and recipes, empowering Ace customers to go from home cook to home chef with just a few tablespoons. “We’re changing the way people eat and experience flavor,” said Maria Emmer-Aanes, Vice President of Retail and Grocery at Spiceology. “We admire Ace’s connection to the community, and we are excited to have our products available for their customers, showing just how important it is to have high-quality ingredients in your home to experiment with flavor. Just as Ace stores are a one-stop shop for a growing and more diverse clientele, our ultra-versatile spice blends can be the new go-tos customers reach for in the kitchen and around the grill.” Spiceology - AceNet Direct (Vendor #56309). ABOUT SPICEOLOGY Founded in 2013, Spiceology is the fastest-growing spice company in America and is on a mission to bring the magic back to spices, the world’s first currency. The chef-owned and operated, one-stop spice shop develops innovative blends and offers over 400 ingredients that are ground fresh in small-batches and shipped fresh to consumers and chefs. Spiceology’s “experiment with flavor” ethos is not only embraced through excellent ingredients and unique combinations, but also through responsible business practices designed to create a better world with diversity, equity and inclusion at the heart of the workforce. Spiceology products can be found on spiceology.com, in specialty retailers and grocers, in restaurants around the US, and as far away as Australia and Dubai. Visit spiceology.com for more information or to place an order, or follow Spiceology on Facebook and Instagram. For recipe inspiration, visit here. ABOUT ACE HARDWARE Ace Hardware is the largest retailer-owned hardware cooperative in the world with more than 5,200 locally owned and operated hardware stores in approximately 70 countries. Headquartered in Oak Brook, Ill., Ace and its subsidiaries operate an expansive network of distribution centers in the U.S. and have distribution capabilities in Ningbo, China; Colon, Panama; and Dubai, United Arab Emirates. Since 1924, Ace has become a part of local communities around the world and known as the place with the helpful hardware folks. For more information, visit acehardware.com or newsroom.acehardware.com. Contact Details Cassidy Levine +1 908-770-7880 cassidy@spiceology.com Company Website https://spiceology.com/

October 28, 2021 08:00 AM Eastern Daylight Time

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Velocity Global adds DJ Matt Cassidy as Dance Floor Director

Velocity Global

Cassidy responsible for vibe creation for growing global team Cassidy to play company’s annual party this week in his hometown of Denver Cassidy featured in lineup for Icelantic’s Winter on the Rocks in January Velocity Global officially named DJ Matt Cassidy as Dance Floor Director as the company makes final preparations for its annual party this week. Cassidy is responsible for vibe creation for the company’s growing global team of more than 400 people across six continents. He reports to Sam Warren, recently promoted to Chief Fun Officer, or CFUNO. “We’re thrilled to officially welcome Matt to the Velocity Global family. Matt’s contributions to Velocity Global’s Fun department over the past three years established him as an instrumental member of the team,” said Warren. “Matt embodies what the company does every day — serves up smiles and delivers unforgettable experiences.” Cassidy is a native of Denver which also serves as corporate headquarters for Velocity Global, a remote-first company. Cassidy shares the company’s passion for global influence, often mixing international beats into his repertoire. This week, Velocity Global welcomes team members from around the globe to Denver for an event to celebrate its employees and their contributions to the company's growth, including two acquisitions this year. The event will follow strict protocols including vaccination requirements and COVID-19 testing. “The dance floor has grown immensely over the past three years as the company takes off,” said Cassidy. “I’m honored to officially be part of the family and to continue to focus on how to have fun amidst hard work and tremendous success.” DJ Matt Cassidy will open for global DJ and record producer, Diplo, at the 10th annual Icelantic's Winter on the Rocks on January 28, 2022, at Red Rocks Amphitheater. Velocity Global is a presenting sponsor of the upcoming event that Cassidy has played for the last seven years. Stream music from DJ Matt Cassidy here. About Velocity Global Velocity Global accelerates the future of work beyond borders. Its global work platform simplifies the employer and employee experience to employ any talent anywhere with just a click through its proprietary cloud-based workforce management technology, backed by personalized expertise and unmatched global scale. As the largest global Employer of Record (also known as International PEO) in 185 countries and all 50 United States, more than 1,000 brands rely on Velocity Global to build global teams without the cost or complexity of setting up foreign legal entities or state registrations. The company offers additional services including Independent Contractor Compliance to assess a workforce, and Agent of Record (AoR) to streamline payments to contractors. Velocity Global was named a “Leader” in Global Employer of Record services by prominent analyst firm NelsonHall. Founded in 2014, the company has hundreds of employees across six continents. For more information visit velocityglobal.com. Contact Details John Hall +1 720-650-4348 news@velocityglobal.com Company Website https://velocityglobal.com/

October 27, 2021 07:01 AM Mountain Daylight Time

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Spiceology Introduces Newest Signature Blend, Blackberry Balsamic, Just In Time For The Holiday Season

Spiceology

Spiceology, a leading spice and flavor company, just announced the latest addition to its portfolio of innovative signature blends, Blackberry Balsamic. The new blend combines the tang of balsamic vinegar and tart sweetness of blackberries with rich garlic and onion, resulting in a complex and versatile blend. Spiceology’s wide range of never-before-tasted signature blends are at the core of the company’s innovation, providing versatile, easy-to-use blends that instantly elevate dishes. From Raspberry Chipotle being used for both brownies and meat, to Smoky Honey Habanero able to be used in everything from cocktails and veggies to proteins and desserts, Blackberry Balsamic joins the collection of ultra adaptable signature blends. Recent 2021 additions to Spiceology’s line of signature blends include Rosemary Dijon and Hibiscus Habanero, further providing endless ways to Experiment with Flavor. “Each signature blend we create is unique, and Blackberry Balsamic was specifically developed to go beyond the traditional uses of balsamic vinegar,” said Tony Reed, Senior Director of Innovation and Partnerships. “Balsamic vinegar has become a staple in both professional and home kitchens; we wanted to create something that captured the rich flavor of a balsamic glaze, but since we’re Spiceology, we couldn’t just stop there. We paired balsamic flavor with blackberry sweetness - it’s a fantastic blend to experiment with this holiday season. ” Blackberry Balsamic compliments proteins like beef, lamb, pork, salmon, game, and chicken, but can also be used for vegetables, in salad dressings, sauces, ice cream, compound butters, Caprese salads, and sprinkled on popcorn for a seasonal flare. The blend also layers well with one of Spiceology’s best-selling fan-favorites, Greek Freak, a Mediterranean seasoning blend. To highlight the new and unique flavor profile, Spiceology partnered with Beef + Lamb New Zealand and Silver Fern Farms, purveyors of New Zealand 100% grass-fed beef and lamb, on recipes that showcase the pairing between Blackberry Balsamic and these premium grass-fed proteins. For more information on Blackberry Balsamic, including the Silver Fern Farm beef and lamb recipes, visit Spiceology.com/blackberry-balsamic. ABOUT SPICEOLOGY Founded in 2013, Spiceology is the fastest-growing spice company in America and is on a mission to bring the magic back to spices, the world’s first currency. The chef-owned and operated, one-stop spice shop develops innovative blends and offers over 400 ingredients that are ground fresh in small-batches and shipped fresh to consumers and chefs. Spiceology’s “experiment with flavor” ethos is not only embraced through excellent ingredients and unique combinations, but also through responsible business practices designed to create a better world with diversity, equity and inclusion at the heart of the workforce. Spiceology products can be found on spiceology.com, in specialty retailers and grocers, in restaurants around the US, and as far away as Australia and Dubai. Visit spiceology.com for more information or to place an order, or follow Spiceology on Facebook and Instagram. For recipe inspiration, visit here. Contact Details Cassidy Levine +1 908-770-7880 cassidy@spiceology.com Company Website https://spiceology.com/

October 27, 2021 08:00 AM Eastern Daylight Time

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EVOLUTION OF UK RESTAURANT BUSINESS

Revenue Management Solutions

Revenue Management Solutions, a global enterprise providing sales and profitability solutions for over 100,000 restaurants in more than 40 countries, has released its findings from a survey of more than 400 UK diners, examining consumer intent to dine out and the factors affecting their decisions. Traffic down in city centres Nearly half of all respondents report they are commuting to an office or workplace again. Yet, fewer UK respondents are back in the office when compared to Germany and France. In a similar survey conducted by RMS in Germany, 64% of respondents are back at work, and another 11% can choose between home and work. In France, 62% are commuting, and 12% enjoy a hybrid. According to Philipp Laqué, Managing Director for the UK at RMS, the huge shift away from city centres and commuting forced 8% of all UK restaurants to close (10,000 units, roughly) as of the end of Q2. Reasons for optimism Still, Laqué projects a more optimistic future and agrees with predictions that the UK will experience a complete recovery of the out-of-home (OOH) market by the end of 2022. “Consumers are ready for hedonistic experiences.” Indeed, ‘socialising with friends’ was the key motivator to dine out for survey respondents, followed by ‘lazy meals.’ Comparatively, French respondents cited ‘good food’ and ‘socializing with friends’ as the reasons to dine out more or much more. In Germany, ‘lazy evening meals’ ranked as the top reason to dine out more. In all three countries, business lunches were likely to decrease substantially. Increased spending A significant 43% of survey respondents reported increasing restaurant spending by more than 15% in the past three months. Whilst 31% of those spending more are using restaurants more often, delivery fees and higher prices factor into the increased spend. A majority of respondents believe most of the pressures on restaurants are justifiable reasons for rising prices, particularly the impact of increased wages and rising food costs. Increased spending and a renewed desire to eat out are a blessing for brands, Laqué said, but it’s complicated. “People are falling in love with restaurants again, but now we face paralyzed supply chains and Brexit, creating a perfect storm,” Laqué says. “Customers have higher expectations of food quality and service, whilst supply chains are unstable and availability of hospitality workers is scarce.” Longevity lies in new approaches Diversification seems to be the way forward, at least for some brands. In RMS’ survey, 43% of people are still working more from home. As a result, says Laqué, parameters for a convenient location have shifted from being next to a travel or office hub to being easily accessible from their homes, making residential areas outside London more attractive for food-service providers. Respondents also report a big uptick in QSR and value meal purchases. Almost 1 in 2 reported purchasing a combo meal from a quick-service restaurant in the past month. For Gen Z and millennials, that number sails to 70%, and of 68% families grabbed a combo meal from a QSR in the past month. The combination of convenience and value may explain why major US QSR brands are eyeing the UK for growth. Most recently, McDonald’s announced it would open 50 units in the short term, Wendy’s announced it will build 400 UK units, and Popeye’s opened its first London location in September, the first of a planned 350 units. Overall, says Laqué, “the UK is staged for growth, but brands will need to adjust to address a shift in traffic patterns and consumer behaviour — which may remain permanent — to succeed.” About Revenue Management Solutions RMS provides numerous data-driven solutions and services to the restaurant industry, all designed to help brands drive sales and profitability while maintaining traffic and enhancing brand value long-term. RMS works with more than 50 major brands in more than 40 countries, with its patented processes of revenue management used in more than 100,000 restaurant locations globally. The company holds five US patents on menu pricing and customer segmentation and supports ongoing academic research efforts. For more information on how RMS helps its clients, visit www.revenuemanage.com. Contact Details Tracy Henderson +1 720-989-3530 tracy@centerreachcommunication.com Company Website https://www.revenuemanage.com

October 27, 2021 02:05 AM Central Daylight Time

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