Corporate Profiles - 2021 - 48

INDUSTRY REVIEW: FOODSERVICE
Foodservice
F
Industry works through continued challenges
or the restaurant industry, 2021 has been " a year of transition, " said
Hudson Riehle, senior vice president of research and knowledge for the
National Restaurant Association.
On-premises dining gathered momentum as restrictions eased, with sales
exceeding pre-pandemic levels beginning in May. By July, restaurant sales continued
to trend higher as consumer spending declined elsewhere.
However, challenges persisted in the form of labor shortage and menu price
inflation.
" The labor shortage continues to plague the industry, and we don't see
industry employment returning to full strength until well into 2022, " Mr. Riehle
said. " When talking to operators, they say the inability to recruit adequate staff
limits their ability to expand business. "
Citing survey data, he said three out of four operators indicated recruitment
is their hardest challenge. Many restaurants have been forced to limit operating
hours while increasing the work hours of existing staff, he said.
Meanwhile, off-premises dining remained strong, though it has eased a
bit as consumers dine in more often. At the height of the pandemic, offpremises
dining represented 90% of traffic, up significantly from just over
EATING AND DRINKING PLACES
IN MILLIONS
employment
60% prior to the pandemic. As of July, the percentage was closer to 80%.
" That number will likely pull back, but it's unlikely to ever get as low as it
was before the pandemic, " Mr. Riehle said. " That's mainly due to American consumers
becoming much savvier and more comfortable with digital ordering. "
As more people re-enter the workforce, Mr. Riehle said restaurants will capture
more food spending.
" Pre-pandemic it was 51%, but that dropped to the upper-30% range at
the height of the pandemic, and now it's roughly a 50-50 split, " he said. " That
ratio should continue to move up as the months tick by. Convenience and pentup
demand for socialization will drive that increase in sales. "
PLANTS ON THE MENU
During the year, restaurants large and small began testing or serving plantbased
alternatives to dairy and meat items.
Chipotle Mexican Grill, Inc. began testing plant-based chorizo in Denver
and Indianapolis restaurants. Chipotle's culinary team spent a year developing
the product to feature the flavor of the spicy pork sausage without the
meat. The protein is made with ancho chili peppers, chipotle peppers, tomato
12.2 12.3 11.7
9
Jan. 2020
Feb.
Feb. 2020
Mar.
6.3
Apr.
Source: US Bureau of Labor Statistics
HIRING TALENT
top challenge
PERCENT OF OPERATORS THAT SAID RECRUITING AND RETAINING EMPLOYEES IS THEIR TOP CHALLENGE
7.8
May
9.3
June
9.8
July
9.9
Aug.
10.2 10.4 10.4 10.0 10.0 10.4 10.5 10.6 10.9 11.1 11.3
Sept.
Oct.
Nov.
Dec Jan. 2021.
Feb.
Mar.
Apr.
May
June
July
Jan. 2020
49% 35% 19% 0% 1% 7% 11% 11% 13% 20% 14% 7% 8% 13% 25% 57% 72% 75% 75%
Sept.
Feb.
Mar.
Apr.
May
June
Source: National Restaurant Association Industry Tracking Survey
July
Aug.
Oct.
Nov.
Dec Jan. 2021.
Feb.
Mar.
Apr.
May
June
Note: figures are seasonally-adjusted
July
48 \ October 2021
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Corporate Profiles

Corporate Profiles - 2021

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