Weekly Roundup – Week of 7.25.2022
July 29, 2022
This week’s roundup highlights notable food-and-beverage-related news stories of the past week, curated from our team of strategists and food enthusiasts:
Hotel Foodservice Shifts Focus To Non-Overnight Guests
The American Hotel & Lodging Association indicates that hotels are still bouncing back from the pandemic with occupancy expected to average about 63% this year. Many food and beverage teams are looking for ways to increase traffic in their on-site restaurants from off-site guests. Restaurant Business highlights a few key trends that hotel operators are taking into consideration to reach non-hotel guests. One trend is to immerse local food culture into menus by hiring chefs who specialize in cuisines specific to that hotel’s location. Breakfast for lunch and revamping drink menus to integrate more mocktail offerings are two additional trends chefs and bartenders are following to encourage off-site visits. Find All Trends Here.
Chipotle Promotion Gives Away $200K in Crypto
In celebration of National Avocado Day on July 31, Chipotle launched “Buy the Dip,” a stock market simulation game, and will plan to give away $200K in cryptocurrency throughout the promotion period. Players use their Chipotle Rewards account and “watch a fictitious crypto tracker move through highs and lows to “buy the dip,” or invest when the asset price drops in anticipation of it eventually rising again.” Every day through July 30, players can win various amounts of cryptocurrency with rewards reaching $35K on July 31. Crypto promotions afford Chipotle a new medium for capturing valuable customer data prior to the dissolution of third-party cookies. Get The Details Now.
MyForest Foods’ Boosts Production From Its Mycelium Vertical Farm
With its new facility, Swersey Silos, MyForest Foods expects to grow roughly three million pounds annually of mycelium – a “root-like structure from which mushrooms grow – in order to produce one million pounds of its MyBacon pork alternative per year. The new vertical farming facility replicates a forest-like environment similar to where mushrooms grow. However, instead of waiting for a full mushroom to mature, CEO Eben Bayer explains that “rather than forming a mushroom, we get a 50-foot-long, four-foot-wide, two inches thick slab of mushroom meat.” Each batch is grown in 12 days and harvested in a single day increasing production substantially over traditional mushrooms. Learn More.
Private Label Sales Surge Over Big Brands
As inflation continues to drive retail prices, consumers are seeking substitute brands to offset grocery costs. Per Catalina’s Shopper Intelligence Platform, private brand categories showing the biggest gains year to date through July 17 include Baking Mixes (up 40%), Soup (up 17%), Prepared Foods (up 12%), Dried Vegetables (up 11%), Canned Fish (up 10%) and Cereal and Baby Food (both up 6%). CPG companies are taking note of the increased demand for branded alternatives and how the current upsurge is affecting their business. Read The Article.
Interesting Product Intros & Discos Worth Sharing
What’s being discontinued? After deep consideration across its total product portfolio, Klondike confirms it will no longer offer the Choco Taco – a sugar cone-shaped taco stuffed with ice cream. Nearing its 40-year anniversary, fans mourn its impending departure. What’s new? In preparation for the upcoming football season, Brach’s has launched Tailgate Candy Corn in the following festive flavors: Fruit Punch, Vanilla Ice Cream, Hot Dog, Hamburger, and Popcorn. To satisfy consumers’ love of sweet and spicy pairings and snackable foods, General Mills has introduced CinnaFuego Toast Crunch featuring its Cinnadust with the addition of spicy pepper – available exclusively online at Walmart.com. And Constellation Brands mashes up wine and soda with its RTD Woodbridge Wine Soda, combining white wine with classic soda flavors like lemon lime, orange, and grapefruit, in the convenience of a can. Visit our blog every Friday for more product announcement news.
