The Restaurant Report 188. Labor Situation Brewing in Foodservice With a Dramatic Impact on Restaurants
Nov 16, 2021
36:32
Today's weekly wrap dives into the trends and stats for the current labor situation brewing in foodservice with a dramatic impact on restaurants based on new consumer data analysis from Foodable Labs.
Tweetable Data Points
Foodable Labs Data:
-229K restaurants permanently closed during COVID19
-Over 1.3MM jobs lost
-62% of millennials that were in the industry have gone outside the foodservice sector for work
-Tech challenged restaurants to make up over half of the landscape in 2022
-Fastest growing sector - fast-casual up 13.4% new openings in 2021
-120+ new concepts in fast-casual in 2021
-35% of consumers are choosing to eat out less due to rising prices - the largest demographic is millennials
I also breakdown the Doordash global expansion and what this could mean to the restaurant business. Along with the evolution of ghost kitchens being launched by Inspire brands, a little late to the party but definitely, one to keep your eyes on for growth in multi-concept ghost kitchens.
Wrapping up with my latest insights on the Panera Bread IPO and why this could be a very good thing for Panera in a time where the market is looking for a big leader on the technology front.
Tweetable Data Points
Foodable Labs Data:
-229K restaurants permanently closed during COVID19
-Over 1.3MM jobs lost
-62% of millennials that were in the industry have gone outside the foodservice sector for work
-Tech challenged restaurants to make up over half of the landscape in 2022
-Fastest growing sector - fast-casual up 13.4% new openings in 2021
-120+ new concepts in fast-casual in 2021
-35% of consumers are choosing to eat out less due to rising prices - the largest demographic is millennials
I also breakdown the Doordash global expansion and what this could mean to the restaurant business. Along with the evolution of ghost kitchens being launched by Inspire brands, a little late to the party but definitely, one to keep your eyes on for growth in multi-concept ghost kitchens.
Wrapping up with my latest insights on the Panera Bread IPO and why this could be a very good thing for Panera in a time where the market is looking for a big leader on the technology front.