- According to a recent report by Future Market Insights, the global paper cup lids market is expected to reach $37.2 billion by 2032 growing at a moderate CAGR of 3.9% overtime. This increase is due to the expected desire for specialty beverages like milkshakes and coffee.
Source: Yahoo! Life. Read the full article here.
- According to a recent report by Sodexo Paris, 60% of U.K. food buyers stated that there has been an increase of food waste over the last six months due to supply chain issues. Over 1/3 of some of the largest food buyers are looking to small and mid-sized suppliers in hopes of diversifying their supply chain.
Source: Tasting Table. Read the full article here.
- Starbucks is currently going through a rather public reinvention. The Interim CEO, Howard Schultz, stated they were living in a “changing world” with pressures that come from all angles. Restaurants across the United States are being faced with rising costs and social changes that affect customers, employees, and partners – Starbucks included. While Starbucks is still working through their reinvention and what that may look like for them, some takeaways and things to keep in mind from this experience are:
- A digital experience/ component should enhance human-to-human interactions, not replace them completely.
- Pick-up is now the primary brand experience for a large number of your customers. Make the experience a pleasant one.
- Having a safe and comfortable environment for your employees is critical.
Source: QSR Magazine. Read the full article here.