Hospitality Industry News – The Important Stuff!

Business

Trimming down menus, higher labor costs, food shortages and meal delivery services has seen restaurants altering the way they do business more rapidly than ever before. Restaurant sales according to Statista are up in mid 2021 recordings since 2020 with $72.2 billion in sales.1

Online Reviews Are Still Highly Required

Did you know that approximately 94% of diners base their decisions of where to eat off online reviews?2 – I myself am included in this mix as reading reviews online can help to quickly decipher the every growing food maps of each city. Review services like Google, Yelp, Zomato and even Instagram have become the key places to find out not just what is popular in an area but also get a sense of what the quality of food may be. The important takeaway here for restauranteurs is that if you don’t have a strong online presence or worse – negative reviews – you could be missing out on a huge chunk of the market.

At Home Meal Kits From Restaurants?

Restaurants have started to get savvy with the at home meal kit market as it was recorded in 2019 that this industry was valued at $2.5 billion and is only projected to grow. The idea behind these kits is that customers are able to order a set amount of ingredients from their favorite restaurants which they can then cook themselves at home. This is a fantastic way for restaurants to not only make some additional income on the side but also remain relevant in people’s minds.

Generational Shifts

As we come into 2022, we will start to see a larger number of millennial’s and Gen Z’s in the workforce and with that comes a change in spending habits as well as what they are looking for from their dining experiences. Restaurants will need to start thinking about how to make their establishments more appealing to this age group by providing things like vegan, vegetarian and gluten -free options as well as a focus on healthy meals.

Labor Saving Technology Increases

The hospitality industry has been one of the hardest hit by the pandemic with many businesses forced to close their doors for good. One of the ways that restaurants have been able to stay afloat during these times is by utilizing technology to cut down on labor costs. Automated ordering systems, contactless payment and even robots are being used in various restaurants around the world with pretty good success. This trend is only going to continue to grow in the coming years as restaurants look for ways to reduce expenses and increase profits.

Food Delivery Services Are Here To Stay

Meal delivery services have seen a huge uptick in business since the pandemic started and there’s no sign of that slowing down anytime soon. In fact, it’s expected that the global food delivery market will be worth a whopping $192.16 billion by 2025.3 This is good news for restaurants as it provides them with another avenue to reach customers and boost sales. It’s also a great way to get your food in front of people who may not have otherwise tried your restaurant.

Sustainable Food Choices

As diners become more and more conscious of the impact their food choices have on the environment, we are going to start to see a shift towards sustainable options. This could mean anything from locally sourced ingredients to even restaurant vegetable patches. Restaurants that can tap into this trend will be able to appeal to a wider range of customers and do their part in saving the planet.

Trends In Restaurant Dessert Menus

The dessert menus is ever changing for restaurants. Foods that are currently popular include tiramisu, creme brûlée, cake pops, macarons and ice cream. While some of these will always be classics, others come and go with the times. For example, right now there is a big trend for savory desserts like chicken and waffles or even pizza. It will be interesting to see what new and exciting desserts restaurants come up with in the coming years.

What does this all mean for you?

If you’re in the hospitality industry, it’s important to stay up to date on the latest trends so that you can adjust your business accordingly. By doing so, you’ll be able to stay ahead of the competition and keep your customers happy.

Reference:

  1. https://www.statista.com/chart/25102/sales-of-food-services-and-drinking-places/
  2. https://www.tripadvisor.com/ForRestaurants/r3227
  3. https://www.prnewswire.com/news-releases/global-online-food-delivery-services-market-report-2021-market-is-expected-to-reach-192-16-billion-in-2025–from-126-91-billion-in-2021—long-term-forecast-to-2030–301285677.html

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