Your Source for Latest Restaurant News, Trends and Insights
“In 2020, new food and drink line extensions plummeted by 29% versus the prior three-year average in multi-outlet retailers and convenience stores, per an innovation report from IRI.”1 Due to the pandemic, there is a lot of uncertainty of what to expect in the months to come and unpredictability. However, when it comes to fall, food trends are a lot easier to predict. When people think of fall, they think of pumpkin spice, apple cider, Thanksgiving dinner, comfort, and Halloween. Therefore, people are going to be wanting to try new food and drinks based on comfort and all of whatContinue reading “Fall 2021 Food & Beverage Trends”
Since the start of the pandemic, safety measures such as social distancing, lockdowns and mask-wearing have completely changed our understanding of how consumers spend on food. We saw customers stockpiling on groceries and supplies in homes instead of going out to eat, raising retail sales by 29 percent over the previous year (1). Meanwhile, sales at cafes, fast-food restaurants, coffee shops, and casual-dining establishments fell by 27 percent. According to this McKinsey Report, these “changes in consumer behavior continue to ripple through the US food and agricultural supply chains” even today (1). That’s because the supply chain is similar toContinue reading “Navigating the Supply Chain in the Restaurant Industry”
With the pandemic and climate change being hot topics in recent months, Summer 2021 will have guests wanting to see more healthy and sustainable items on their menu. As a result, there will be a significant push for plant-based dishes and those featuring natural and functional ingredients from elderberries to turmeric. Here we share some of the major food and beverage trends operators can expect this upcoming season.
The benefits of having loyalty programs—particularly mobile programs—have become more noticeable due to the pandemic. Here are what industry experts have to say about customer loyalty programs and how it can drive your restaurant’s marketing plan in 2021.
If you’re a small restaurant or business with 500 or fewer employees and you’ve had more than a 20% decline of gross receipts in a quarter compared to 2019, you may be interested in hearing about this latest news regarding the Employee Retention Tax Credit (ERTC). And thanks to the new provision in the law, yes, this applies even if you’ve already applied for the first or second draw PPP loan.
UPDATE: On 3/30/21, SBA has announced that Restaurant Revitalization Fund applicants no longer need to sign up for a SAM.gov account or have a DUNS number. This change will not impact your participation in the RRF if you’ve already obtained these numbers. For more info, check out this resource provided by the IRC Recently the Restaurant Revitalization Fund (RRF) has been signed into law as a part of the American Rescue Plan. The RRF will provide $28.6 billion tax-free grants for hard-hit restaurants with 20 or fewer locations. While the RRF will be administered by the U.S. Small Business AdministrationContinue reading “Restaurant Revitalization Fund (RRF): What to do ASAP”
With most restaurant operators in a tighter bind to find new talent, high employee turnover has come at a greater cost. Retaining employees during the pandemic has become a critical factor in ensuring your restaurant’s success long term.
Though words like “work culture” and “cultural fit” have been controversial in the recruiting realm (1), there is no denying that restaurants with excellent work culture benefit from happy employees and many loyal customers. Here are 3 Reasons why we think creating an Authentic Restaurant culture can benefit your business.
By Bora Kang, Colin Kopel Restaurant staffing was hard enough before the pandemic, with common hurdles such as no-shows, mistake hires and high turnover rates (1). But the COVID-19 pandemic may have only made it worse. Despite the fact there are more unemployed foodservice workers and less competition now that there have been more than 100,000 restaurant closures nationwide (2, 3), most restaurants face a tighter labor market, and operators are finding themselves in a bind to find more talent. According to the National Restaurant Association (NRA), for example, 30% of restaurant operators admitted that they have job openings thatContinue reading “How to Adjust Your Restaurant Recruiting Process to Cure Your COVID-19 Staffing Woes”
With the COVID-19 vaccinations being rolled out in phases, there has been a question of when or how the vaccines would be administered to those in foodservice. Here is an overview of what is important: Current Phase Here in Georgia (1), the COVID-19 vaccinations are currently being administered to those in Phase 1a+, which includes: Healthcare workers (physicians, nurses, laboratory technicians, EMS personnel, environmental services, etc.) Residents and staff of long-term care facilities Adults aged 65+ and their caregivers Law enforcement, firefighters, first responders Once the vaccinations move into Phase 1b, it will include other essential workers (non-healthcare) who “performContinue reading “How COVID-19 Vaccination Will Roll Out in Food Service”
Restaurants and Small Businesses may now apply for a second PPP Loan beginning January 13, 2021, thanks to the latest COVID-19 pandemic relief bill approved in late December which authorizes up to $284.5 billion for eligible businesses. With these additional loans, qualifying restaurants and small businesses can fund payroll costs (including benefits), and pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations. (full details found in http://www.sba.gov). Other key PPP updates listed in the U.S. Department of theContinue reading “The Second Draw PPP Loan: The Latest News and Next Steps for Restaurants and Small Businesses”
Now that 2021 is finally here, it’s out with the old and in with the new. And in the business side of beverages, no topic is more trendy right now than “functional beverages.” Functional drinks are just what it sounds like. They’re beverages that serve a “function,” or basically, products that claim to benefit health, wellness or performance (1). And according to The Hartman Group’s Functional Food & Beverage and Supplements 2020 report, 29 percent of consumers have been consuming more functional foods and beverages since the onset of the COVID-19 pandemic (2). The growing concern of the pandemic andContinue reading “Beverage Trends of 2021: Non-Alcoholic Drinks”
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