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How to manage risks with new technology: Experts weigh in

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How to manage risks with new technology: Experts weigh in Investing in technology typically requires a certain amount of risk. By managing this risk, companies can achieve the benefits of new technology without incurring excessive losses.

Canadian Foodservice’s Midterm Trend Report by Restobiz (Canadian Restaurant & Foodservice News) May 2022

In summary:

Mid-Year status on overall foodservice performance:

Canadian foodservice sales have certainly begun to rebound in early 2022, with commercial foodservice sales up nearly 18 per cent over the last year and indexing showing that industry revenue will be at 97 per cent of pre-pandemic levels by the end of 2022. As COVID-19 restrictions have eased and indoor dining has begun to make a comeback, Canadian foodservice industry employment has also begun to recover, showing 12 per cent year-over-year growth in February 2022.

When it comes to segments, predicted nominal rebound rates have been adjusted to be slightly lower, with limited-service sales projected to grow 7.1 per cent, and full-service sales estimated to grow 20.9 per cent in 2022.

Mid-Year status regarding going lean:

Restaurant chains have been balancing investments in traditional expansion and digital operations. As predicted, some operators have been leaning into technology-driven enterprises that focus on delivery and takeout models. For multi-concept operator Recipe Unlimited, for example, e-commerce sales have continued to grow, even as dining rooms have reopened.

On the flip side, rather than getting leaner, many operators — including Mary Brown’s, Popeyes, and Jollibee — have been expanding by opening units in new regions. And despite overall menu items decreasing two per cent year over year, the fact that this is compared to a nine per cent decrease from pre-pandemic to today signals that a slow road to menu recovery may be starting.

Mid-Year status on managing supply chain constraints:

The menu creativity we predicted for this year is already apparent, with innovative preparations (e.g., grilled lettuce at Tanto in Toronto) and quirky takes on classics (e.g., Mucho Burrito’s Tandoorito featuring tandoori chicken and chutney crema stuffed into a burrito) popping up on menus.

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Canadian foodservice’s midterm trend report - Restobiz By Katie Belflower At the start of the year, amid what was still significant COVID-19-related turmoil and evolving restrictions and operations, Technomic mapped out a predicted trend report for the Canadian foodservice industry. Now, five months into 2022 and after so much has changed (again) in the...

This video launches our new inField Unscripted video series called Centre Core Focus. This video features our very own Richard Zinck, who will explore how to win by listening. Please view this video to learn more and do let us know what you think.

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inField Unscripted - Centre Core Focus - How to Win by Richard Zinck (2022 06 10) In this video, Richard Zinck explains what it takes to win.

A video reviewing the advantages of the Food iQ App Phonebooth feature ... increase user engagement while improving the overall buying experience.

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inField Unscripted - Food iQ Phonebooth Feature 2022 02 13 A video reviewing the advantages of the Food iQ App Phonebooth feature ... increase user engagement while improving the overall buying experience.