CHICAGO, June 26, 2020—Technomic hosted its first virtual conference as part of the Foodservice Planning Program and shared a State of the Industry presentation, covering long-term concerns, the effects of dine-in closures and when we may see a full recovery. The data points from this presentation highlight what is offered in a new program launched by Technomic, Economic Impact Navigator.
“Dine-in closures are certainly changing how we do business today, causing restaurants to quickly change their business models to offer off-premise services” Joe Pawlak, managing principal at Technomic, stated in the presentation. “On the other side of things, dining room openings cause a new wave of shifting business operations. Overall, 31% of operators surveyed the week of May 31 said they are taking a ‘wait-and-see approach’ to reopening and, in the meantime, exploring how to address new cost burdens such as hyper-sanitization, PPE, labor, packaging and the rising cost of food supplies.”
Key findings from the session included:
- 53% of operators are very confident or somewhat confident about their business survival
- Looking at a second wave of COVID-19 by the end of the year, 77% of consumers are either concerned or very concerned
- By mid-April, 42% of restaurants added curbside pickup
The Economic Impact Navigator offers insight into the impacts of major events and guidance on strategic planning for businesses focused on the foodservice industry. Members receive biannual reports covering an economic outlook and forecast updates, online dashboard access, custom questions through our operator or consumer surveys and access to our 12-week series of COVID-19-focused reports spanning from March to early June 2020. Learn more: https://www.technomic.com/economic-impact-navigator.
Contact: Patrick Noone, (312) 506-3852, pnoone@technomic.com
About Technomic
Technomic, Inc., a Winsight company, was founded as a management consulting firm in 1966. Since then, Technomic’s services have grown to encompass cloud-based B2B research tools, consumer and menu trend tracking, as well as other leading strategic research and analytic capabilities, to prioritize and size business opportunities. Our clients include food manufacturers and distributors, restaurants, retailers and multiple other business verticals aligned with the food industry that are looking to make informed decisions to support their business growth. Visit Technomic at www.technomic.com.
About Winsight
Winsight LLC is a business-to-business information company serving the restaurant and noncommercial foodservice, convenience and petroleum retailing and grocery industries. Winsight provides research and analytics, branding solutions, face-to-face opportunities, lead generation initiatives, and content marketing services through products including subscription data products, reports, research tools, research programs, fully custom studies, conferences, custom marketing services, meetings, print and digital trade media. To learn more, visit winsightmedia.com.
Winsight LLC is a portfolio company of Pamlico Capital.