Vantage 2023: Rebound + Resurgence

It’s finally time for the Foodservice sector to put the past behind us and focus on a future with many possibilities. Foodservice sales have roared back growing double digit over the past two years. In fact, revenues are up by 11% in 2022 vs. pre-pandemic times.

Certainly this is partially expected after the devastating impact the industry had on so many fronts through the pandemic. Unfortunately, once we dig below the surface we realize that there are still headwinds facing Foodservice that are taking the wind out of its recovery. This is clearly reflected by the fact that traffic levels in 2022 were still behind by 4% vs. pre-pandemic times. Rising menu prices are largely driving sales growth so the focus needs to be on returning traffic to its pre-pandemic growth trajectory. The important point to consider is that there is still plenty of upside. The question is how do you get ahead of the pack as we return to where the industry should be.

Listen in as Ipsos’ Asad Amin shares insights from our annual Vantage Foodservice outlook report. Expect to gain a better understanding of how to navigate through these uncertain times.