FOOD & BEVERAGE MARKET INSIGHTS
- Full hospitality sector recovery unlikely until 2024
- Forced adoption of technology is improving consumer experience
- Extended-stay and “Workation” trends to remain through 2021
A recent survey by the International Food Information Council shows that more than 8 in 10 Americans say they have experienced some change to their habits surrounding eating or food preparation due to the pandemic.
In March, restaurants and bars gained 176,000 jobs. Despite unemployment levels, many restaurants and bars are struggling to buildout their labor force as uncertainty of restrictions and virus variants loom.
Throughout 2021 hotels continue to increase the adoption of technology such as online/mobile check-ins and check-outs, mobile keys and room settings controlled by Internet of Things (IoT) technology in order to reduce the spread of germs.
The second half of 2021 is expected to aid the industry’s recovery as group and business travel begins to resume at reduced levels, complimenting the increase in leisure travel following the vaccine rollout.