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Will 2021 Be the Recovery Year for Food Service Industry?

Will 2021 Be the Recovery Year for Food Service Industry?

The impact of Covid-19, The 2021 State of the Restaurant Industry Report from the NRA has been released and offers insight on the restaurant industry as well as a look at the current state of technology, menu trends across segments, off-premises, and labor. The operators and consumer preferences from a survey of 1,000 adults, the data are based on a survey of 6,000 restaurants.

How coronavirus affected the restaurant industry includes Key findings on:

Restaurant and foodservice industry sales $240 billion in 2020 from $899 billion from the expected level.

Eating and drinking places were closed for business temporarily, or for good As of December 1, 2020, more than 110,000.

Nearly 2.5 million jobs below its pre-coronavirus level the eating and drinking place sector finished 2020.

Restaurants across all segments have become more efficient as a result, State and local mandates forced operators to make developments to streamline or enhance off-premises and contactless capabilities. It may not have otherwise engaged in off-premises, the pandemic induced a widespread adoption of technology and off-premises use among groups. With 68% of consumers more likely to purchase takeout from a restaurant than before the pandemic, consumers that say takeout and delivery, Takeout and delivery have become a part of people’s routines and 53% of it is essential to the way they live.

All three reports point to a clearer road to recovery, foodservice trends for the US, Canada, and global markets, three new whitepapers from Economic predict 2021.

One commonality across regions is the streamlining of menus, specifically in the U.S. and Canada over the next 12 months, being led by aggressive strategies, Economic foresees strong to moderate growth. In some cases, revamp them as “new and improved” with higher-quality ingredients or launch safer LTOs with ingredients they already have on hand, Restaurants are expected to focus on core menu items. In general, local and clean-label menu items, the focus is also shifting toward better-for-you. In the U.S. and Canada, greater emphasis on social justice issues can be expected of restaurants in 2021, not just the use of hashtags and buzzwords, meaning consumers will be looking for impactful efforts regarding fairness and inclusion.

U.S. highlights include:

– For sanitation and ease of use Investments in contactless technology

– Items due to travel restrictions renewed interest in Italian, Mexican, and Chinese menu

Canadian highlights include:

– For long-term growth strategies, Investments in off-premise

-Hyper-local solutions, Comfort foods, and homegrown

Global highlights include:

-requiring differentiation to stand out from the competition, Growing popularity of plant-based proteins

– To support active lifestyles and outside consumption, Outdoor-friendly food, and beverage developments

 

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