If you've dined out at a restaurant lately, you've likely noticed a big swing in the cost of your bill. Food inflation and rising costs have increased the price of a foodservice meal over the past few years, up 9% in April compared to April 2019, contributing to a 4% decline in consumer visits to U.S. restaurants this April compared to a year ago. Click here to read the full article.
1 Comment
State of the Plate: The daypart went dark during the pandemic, but customers are returning and chefs are inspired, with everything from Elote Mexican Street Corn Hash at First Watch to Chengdu Chicken and Waffles at Nue. While most of the morning drive-time menu will remain geared toward convenience, the larger breakfast revival will be facilitated in no small part by extraordinary levels of innovation as chefs raid the global pantry to fashion creative, multicultural eye openers. Click here to find breakfast menu inspiration.
US consumers are spending more on high-end hotels and restaurants, according to the American Express first-quarter report (Demos, 2022). Reservations in the company’s Resy restaurant-booking service jumped 16% from February, making March the busiest month ever for Resy. Click here to read more.
Hormel Foods on Thursday reaffirmed sales expectations and lowered the high end of its earnings guidance for 2022, citing avian influenza, logistics and transportation challenges and COVID-19 restrictions in China.
Nearly 38 million birds in domestic flocks have died in outbreaks of highly pathogenic avian influenza (HPAI) from coast to coast since early February, but USDA data suggest the threat is fading. With one day to go in May, losses for the month were on track to be the smallest of the year. A viral disease that spreads best in cold conditions, bird flu typically dissipates with the arrival of consistently warm weather. Click here to read the full article.
You know the commercial that says America runs on a certain brand's coffee and donuts? In truth, America runs on diesel. Just ask a trucker, a farmer or a factory owner. And right now, they are all hurting. That's because the machines that power their businesses need diesel, which is commanding nosebleed level prices right now. At around $5.50 a gallon, diesel prices are up a whopping 75% more than last year and blew past all-time record recently. Click here to read the full article.
Cracks are forming in the U.S. labor market as some companies look to curb hiring while others are desperate for employees. What’s emerging is a tale of two job markets — albeit not equal in size or pay. Hospitality and other service sectors can’t hire enough workers to staff what’s expected to be a bustling summer rebound after two years of Covid obstacles. Tech and other large employers are warning they need to keep costs down and are putting employees on notice. Click here to read the full article.
The good news for the restaurant industry is that sales growth continued to be positive in April. The industry experienced a 15-month streak of improving sales year-over-year. The last time industry sales growth was negative was February 2021, when restaurants were coming off a new high in the number of COVID cases at the end of 2020. But the unwelcome news is that the growth rate has been slowing considerably, with April’s 5.3% sales growth the weakest during that same period. Further weakening is expected in the months ahead, as the industry continues lapping over increasingly harder sales hurdles. Click here to read the full article.
More consumers are opting to dine in-person amid fewer COVID-19 restrictions, while 29% plan to decrease their delivery app usage in the coming months, according to a survey of 1,000 U.S. consumers from Next Insurance emailed to Restaurant Dive. In the past 90 days, 71% of consumers went out to eat and sat inside a restaurant, while 32% said they ate at a restaurant but sat outside. Local, non-chain restaurants may be experiencing a boost from this shift. In the past three months, 27% of consumers have dined at a local restaurant. Seventy-two percent of respondents have spent money on local restaurants, and 65% say they feel better about buying from a local restaurant than from a chain. Click here to read the full article.
Supply chain disruptions, inflation and rising gas prices are producing unprecedented complications for school nutrition teams. And the federal government is about to make things worse. Click here to read the full article.
USDA plans to devote another $400 million to help provide support for responses to outbreaks of highly pathogenic avian influenza (HPAI) that have affected nearly 38 million birds in 35 U.S. states since November.
The funding will allow the agency’s Animal and Plant Health Inspection Service (APHIS) to continue its national rapid response activities, including programs to help animal health officials in affected areas to quickly identify and address new HPAI outbreaks, USDA said in a news release. “Safeguarding U.S. poultry and egg producers from the effects avian influenza could have on agriculture and trade is a critical aspect of this response, and this funding will allow APHIS personnel to continue to deploy and support the emergency wherever they are needed,” said USDA Undersecretary for Marketing and Regulatory Programs Jenny Lester Moffitt. Agriculture Secretary Tom Vilsack last week approved the latest funding transfer from the Commodity Credit Corporation, the third such action since the beginning of the year for a total of $393 million in March and April alone. APHIS — which has mobilized 1,125 employees to cover HPAI outbreaks — also reported that more than 10.8 million commercial and backyard birds in nine new states were affected by HPAI since the April funding transfer. Foodservice food and beverage suppliers showcased the latest innovations at the National Restaurant Show held in Chicago May 21-24. Scattered among long-established Windy City brands, such as Vienna Beef, Eli’s Cheesecake and Grecian Delight, were restaurant operators from around the world sampling products that speak to consumer trends and at the same time ease the struggles the industry is facing in terms of labor and economics. Click here to read the full article.
Food inflation and rising costs have increased the price of a foodservice meal over the past few years, up 9% in April compared to April 2019, contributing to a 4% decline in consumer visits to U.S. restaurants this April compared to a year ago, reports The NPD Group. Restaurant traffic in April was 11% below the pre-pandemic level in April 2019. The 1% increase in consumer spending at restaurants in April versus a year ago was more a reflection of higher prices than increased use of restaurants, according to NPD’s daily tracking of the U.S. foodservice industry. Click here to read the full article.
Learn how to profit from the strong demand for ethnic cuisines. Millennials and Boomers seek out exciting new and different global flavors. Discover why promoting these foods is smart business.
When was the last time you thought of Italian food as ethnic? Blinked twice to see potstickers on the menu at a casual theme restaurant? Exactly: Ethnic food is a mainstream phenomenon. According to the Emerging Global Cuisines: Culinary Trend Mapping Report, released by the Center for Culinary Development and Packaged Facts: “Emerging global cuisines are literally opening up a whole new world of culinary experiences to American consumers of all ages, due to the nearly infinite range of ingredients, forms, and flavors they offer.” The report goes on to cite the fact that well-traveled Baby Boomers and adventurous Millennials alike are drawn to the emerging flavors and specialties of such countries as Peru, Morocco, Korea, and Japan. Pick up any menu these days, and you’re sure to find global flavors in abundance. Simply put, borders no longer exist when it comes to taste. And as operators look to attract new diners, they’re turning to these worldly inspired cuisines to capitalize on the demand. So, what’s driving this desire for diversity? Here are a few reasons for the continuing trend:
According to Datassential, tots menu growth is predicted to outperform all food and beverage over the next 4 years! Arm your operators with this incredible growth opportunity with Basic American Foods Potato Tot Mix.
Perfect for any day or menu! Your customers will profit by using Basic American Foods Tot Mix for sandwich toppers, appetizers, sides, breakfast potato cakes and more. Click here for recipe ideas!
The latest data from Iowa Workforce Development shows 10,300 jobs were added to the payrolls at Iowa restaurants and hotels over the last 12 months. “It’s no surprise that we would be showing growth, but I can tell you we would show substantially more growth if there were more people out there to hire,” Jessica Dunker, president and CEO of the Iowa Restaurant Association, said. Click here to read the full article.
Acosta, a global integrated sales and marketing services provider in the consumer packaged goods (CPG) industry, released its sixth edition of The Why? Behind the Dine, a research report providing foodservice-specific insight bolstered by the expertise of its CORE Foodservice division.
Acosta's findings show that while most consumers (54 percent) are dining out less often due to inflation, about one-third are choosing to trade down rather than trade out, opting for less expensive restaurant and meal options to counter rising prices. Click here to read the full article. With prices across the economy — from food, gas and rent to cars, airfares and hotel rooms — soaring at their fastest pace in decades, you might think Americans would tap the brakes on spending.
Not so far. Consumers as a whole are showing surprising resilience, not only sustaining their spending but increasing it even after adjusting for inflation. In April, the government said, retail sales outplaced inflation for a fourth straight month. It was a reassuring sign that consumers — the primary drivers of America’s economy — are still providing vital support and helping allay concerns that a recession might be near. Click here to read the full story. Smaller carriers multiplied in 2020-21 as COVID-19 ebbed, demand surged, and spot-market rates favored them. But this trend appears to be doing a 180-degree turn, as Truckstop.com findings show that 51% of these operators are considering changing jobs. Click here to read the full story.
Tyson Foods Inc. will invest $1.8 billion as it opens 12 meat plants over the next two years that are expected to increase the Springdale, Ark.-based processor's annual capacity by approximately 1.3 billion pounds.
“Consumer demand for protein has remained strong, and we are taking deliberate actions by segment to improve our volumes to better meet customer needs, including investing in new capacity,” said Tyson President and CEO Donnie King told analysts at the presentation covering the company's second quarter earnings earlier this month. Currently on the Tyson docket are seven overseas processing facilities in addition to two U.S.-based beef and pork plants and two domestic value-added chicken processing plants. “The construction of new plants continues to progress,” King continued. “This additional capacity will enable our team to address capacity constraints and better serve growing demand for protein across all segments. Along with ramping up utilization of our newest plant in Humboldt, Eagle Mountain and Thailand, we have four plants expected to commence operation in the fourth quarter of fiscal year 2022.” The plant announcement comes on the heels of Tyson’s report of strong second-quarter sales and increased revenue guidance. Highly pathogenic avian influenza (HPAI) infections have now affected 344 commercial and backyard flocks in 35 states, USDA said in its latest update.
More than 38 million birds have been affected in the outbreaks, which include 57,000 turkeys at a commercial farm in Minnesota’s Dakota County, the agency confirmed over the weekend. USDA’s Animal and Plant Health Inspection Service (APHIS) in recent days also confirmed New Jersey’s first case of HPAI of 2022 in a non-commercial backyard poultry flock in Monmouth County. APHIS says it is working with state animal health officials on a joint response to the outbreak. Inflation is inseparably linked to the supply chain," former Home Depot CEO Bob Nardelli told Yahoo Finance Live. "I look at a global view of the container ships around the world and we have well over 550 ships right now floating on the water waiting to get unloaded. We have an equal number of tankers floating on the water ready to get unloaded." Inflation appears to be spilling into all parts of the economy, with one primary reason being ongoing supply chain constraints. Click here to read the full article from Yahoo! Finance.
Many businesses have held back skyrocketing expenses from consumers, but they can only do that for so much longer. Read the full article here.
High inflation, including rising gas prices, can disrupt the improving performance of restaurant tenants. Simmering demand from Americans who missed dining our during the pandemic boiled over in late 2021, resulting in more restaurant visits and increased consumer spending. But inflationary pressures could force consumers to economize, thereby jeopardizing the restaurant industry’s recovery and disrupting retail leasing momentum. Click here to read the full article.
|
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
June 2026
Categories
All
|