The cost of living crisis is often talked about in the context of individuals and families. However, little light is shed on its effects on the hospitality sector in general; let alone discerning its impacts between the cost and profit elements.
Despite the vaguest hint of respite in the inflation rates, the rising cost of goods and energy is having a profound impact on foodservice and hospitality. Whether it’s the disappearance of lunch trade, owners rebranding their restaurants to accommodate change in consumer behaviour, branch closures, re-thinking supply chains in operations or adapting to new offerings in B&I or education, the crisis is impacting the whole sector.
There are calls for a cost of living package to pull hospitality back from the brink. There are small mercies such as extended trading hours for the Coronation and then, of course, there is the perpetual resilience of the industry adapting to crisis after crisis. But is this enough? Is enough support available? How much can an industry take…Brexit, Covid and now Cost of Living. What next?
The objective of this podcast is to delve into the ramifications of this latest challenge and examine the different impact the crisis is having respectively on both the cost and profit sectors. Also, to discuss how business has responded and what can be learnt from this adaptability.
The focus is to look at the here and now but also into the future with a degree of positivity towards a less troublesome time. Tune in to the podcast to hear the fascinating debate with: