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Optimism for second half of 2023 for US foodservice industry

Thu 17/11/2022 by Richard Wilkinson

Consultants Technomic have released their “What We Foresee for 2023” forecast, which includes foodservice industry trend predictions for next year. Restaurants are still facing significant challenges—largely due to the continued effects of the COVID-19 pandemic—resulting in a delay in a complete return to sustained normalcy. Economic headwinds, including inflation and the threat of a recession, are also setting up new hurdles for operators to navigate. But, despite a challenging start to 2023 expected, the latter part of the year should bring about optimism as the industry emerges from high inflation and a soft economy.

“The industry is expected to face some stumbling blocks going into 2023, led by weakened consumer sentiment and ongoing pricing difficulties,” said Joe Pawlak, managing principal within Technomic’s Advisory group. “But as the year progresses, the situation is expected to moderate and the industry will benefit with stronger sales and traffic.”

The ways in which operators choose to traverse these aforementioned hurdles will include balancing the ease and cost-effectiveness of off-premise dining with the pent-up demand among consumers for the experience of in-person dining, despite continued staffing and inflation challenges.

 

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