Weekly Roundup – Week of 2.5.24

February 9, 2024

Discover the latest food and beverage-related news of the week – curated by our team of strategists and food enthusiasts:

Are C-Stores Shifting Focus Away From Convenience?

For decades, convenience stores have been synonymous with quick, on-the-go solutions for busy consumers. However, the landscape is evolving, and convenience alone may no longer suffice. A recent study conducted by the research firm Intouch Insight sheds light on a notable shift in consumer behavior. While convenience remains crucial, there’s a growing emphasis on other key factors such as prepared foodservice and loyalty programs. Read More.

An Emerging Trend: Integrating Gig Workers Into Traditional Restaurant Staffing Models

As outlined by the National Restaurant Association and Bureau of Labor Statistics data, the restaurant industry is poised for substantial growth, with projections indicating an increase of approximately 1.1 million jobs between the close of 2023 and 2032. Despite the anticipated surge in employment opportunities, 45% of surveyed restaurateurs admit to struggling with insufficient staffing to adequately address the ongoing demands of discerning consumers. And about 25% are open to hiring “gig workers” or independent contractors facilitated by third-party platforms. Learn More.

Mcdonald’s Plans To Transform Operations With Technology Investments

The fast-food giant has unveiled three cutting-edge technology platforms, aimed at revolutionizing various facets of its operations, including customer experience enhancement, franchise operations optimization, and the modernization of core systems, processes, and tools. Notably, in a strategic partnership with Google Cloud, McDonald’s has deployed AI-infused analytics capabilities and distributed cloud servers across many of its restaurants, marking a pivotal step towards leveraging advanced technology to drive innovation and efficiency. Read Story.

Fast-Food Chains Experience Fast Declines

As consumer sentiment shifts towards affordability, fast-food chains are encountering significant challenges. Yum Brands, the parent company of Taco Bell, Pizza Hut, and KFC, recently reported weaker-than-expected sales for the fourth quarter, echoing a trend observed across the industry. This decline comes at a time when consumers are scrutinizing their spending more closely, particularly considering rising dining-out costs compared to relatively stable grocery prices. Read Article.

A Super ‘Bowl’ Of Fun: Getting Game Day Ready!

As the excitement builds for the upcoming big game, both grocers and consumers are gearing up for an epic celebration. According to insights from a Hershey’s Consumer Insights poll, the game plan for many includes an array of treats – from baked goods to indulgent specialty fare like pizza and wings, along with bowls of sweet and salty snacks. Consumers are showing a liking for early preparation, with many stocking up on party essentials well in advance. A notable trend is the reliance on online shopping, allowing for convenient pick-up or delivery options. To tackle costs without compromising on the fun, shoppers are bulk buying, using coupons, and opting for smaller portions. This year’s festivities are sure to be a touchdown for grocers and football fans.

Each Friday we share the latest food and beverage industry news stories of the week. Make sure to visit our blog to stay informed!