The Loyalty Land Grab

The restaurant business is getting new owners at every layer. DoorDash is buying Instacart for about $17 billion, Trian and Wendy's biggest franchisee want to take Wendy's private, and Chipotle now runs a third of its sales through loyalty. The message for operators is the same at every level: whoever holds the guest relationship sets the terms. The marketplaces are consolidating, and the brands growing traffic are the ones pulling guests into their own app, their own rewards and their own marketing voice. Members get the full playbook and this week's Savor Brand Price Watch.