While inflation rates have eased in recent years, many restaurant owners on Long Island are still grappling with high menu prices, which have yet to drop in tandem with overall inflation. According to economist Dr. Martin Cantor, the price of dining out has risen significantly since the pandemic."Restaurants are now about 15% higher than they were before the pandemic, and last year alone, they went up by 7 percent," Dr. Cantor explained.
"We’re just doing more in volume," he said, explaining that the price cuts have led to a boost in sales, even if individual transactions are smaller.In addition to discounting prices, Scotto is trimming costs by cutting back on custom napkins and reducing advertising expenses. "We’re making smarter choices to keep our prices lower," he said.Similarly, Lucharitos, another Long Island restaurant chain, is also making moves to keep costs down.