Apr 21st, 2021
4 mins
Simon Stenning joined our Business Conference on Wednesday, 21st April 2021 and gave a thought-provoking view on the future of Food Service as we start to emerge from the latest lockdown.
His view is that the future will be different from pre Covid, although some of the trends that have emerged over the last 12 months will stay and in some cases accelerate.
Simon estimates that between 2020 and 2025 the market will lose some £125bn in sales only returning to 2019 levels in 2024. With some short-term financial challenges such as changes to VAT, reductions in Business Rates Relief and the ending of the Furlough Scheme, the market will face some head winds.
Whilst 2020 was an appalling year, 2021 will bring it owns challenges in how the market will recover. City Centre locations face the uncertainty of when office workers will return – will this be full time or only part of the week and how will this impact the traditional trading patterns.
It is also difficult to predict when, and if, tourists will return. In 2019 we had just under 41 million tourists visit the UK. In 2020 we only saw 9.7 million. Current estimates suggest 2021 will be 16.9 million, however, with ever-changing restrictions by country it is impossible to have any certainty.
Simon also highlighted the key food trends that are now emerging with ‘speed of service’ now playing an ever-greater role – whether that is preparing the product or a delivered service.
We are also seeing a blurring of lines with places like farm shops now adding restaurants and cafes.
On a final note, Simon is offering BFFF members a £500 discount on his latest report ‘The Future of Food Service’. Any members interested in this offer should contact Siobhan.
The presentation from this year’s Frozen Food Business Conference will be made available to all attendees. If you were not able to purchase a ticket, please contact Siobhan O’Callaghan.
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