Industry leaders from wholesale, foodservice, catering and industry came together last week to discuss the cost-of-living crisis and its impact on the hospitality industry.
Talking at the Footprint Sustainability Bites: Cost of Living Crisis – Foodservice & Hospitality podcast, in association with Nestlé Professional, attendees highlighted how industry is collaborating to overcome economic pressures. Plus they agreed sustainability remains important across the industry, and that cost concerns have actually boosted innovation and creativity.
Hosted by Amy Fetzer, Footprint Head of Research & Analysis, the podcast welcomed Katya Simmons, Managing Director, Nestlé Professional UK&I, Morag Freathy, Managing Director of B&I at Compass, Naz Haq, Head of Corporate Procurement at Bidfood UK, and Nick Attfield, Director of Hospitality & Retail at Adnams. Each provided their unique perspective on how consumers and operators are responding to rising costs and changing market dynamics.
Explaining how the rising cost-of-living is affecting OOH eating habits, Freathy outlined how the hybrid workforce is changing consumer dining times and spend in the office, and Attfield addressed changing dining behaviours in foodservice and tourism. Haq and Freathy detailed how Bidfood and Compass are both working with customers to mitigate rising ingredient, product and energy prices through providing menu management tools and advice on adapting kitchen operations. Simmons explained how menus are evolving to meet consumer needs for health and sustainability, while continuing to offer quality and value. And attendees provided recommendations on how operators can continue to retain consumers, despite delivering with a reduced cost base.
In spite of the challenges, podcast members agreed that sustainability continues to play a vital role for businesses, and that changing dynamics and industry pressures have, in fact, led to greater creativity and innovation. Job share and cross training is making employees more adventurous at Compass, according to Freathy, and menu innovation has led to a renewed vigour, according to Adnett, “Even my ‘old guard’ chefs are excited because there’s a new arm, a new element to what they can achieve in their careers.”
Katya Simmons, MD of Nestlé Professional UK&I, says,
“Often the real action happens during difficult times, and the hospitality industry has been pulling together to overcome the challenges we’ve faced over the last few years.”
“Fortunately, sustainability remains front of mind, with areas like food waste sitting in the ‘sweet spot’ between sustainable business and improved efficiency. It’s fantastic to hear chefs are rising to the challenge, creating exciting new dishes, which check off operator needs for reduced costs while meeting demand for sustainable diets. This is something our development chefs are doubling down on with Nestlé Professional customers. There’s clearly appetite for more ideas and greater creativity in this exciting space!”
The podcast has been released online today, and can be downloaded or streamed via: https://www.foodservicefootprint.com/sustainability-bites-in-association-with-nestle-professional-episode-1-cost-of-living-crisis-foodservice-hospitality/.
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