Forecasts, Projections and Trends, Oh My!

Forecasts, Projections and Trends, Oh My!

             This is the time of year when industry observers and pundits traditionally offer up their respective vision or spin on the direction of the hospitality industry for the next twelve months.  We don’t claim to have a crystal ball but instead offer up our version of what might befall restaurant operators given industry facts alongside a healthy dose of human nature.

            First let’s “consider the source” of this wisdom which usually flows from sources such as; product manufacturers, trade organizations and surveys of industry professionals.  Taken with a grain of salt are both the product manufacturers, who while they may provide good information, offer projections to favor their product and then trade organizations that understandably promote the benefits of their representative group.  That leaves us with surveys of industry professionals to point us in the right direction regarding culinary, operations and consumer behavior for our mutual benefit.

            We don’t recommend one source over the other but perhaps a “blended” version of each respective groups’ information offerings.  While the newest trends and boldest predictions are always a point of interest and perhaps conversations starters, we believe there are consumer, and especially guest, trends that never go out of style and can always be relied upon to bring success to restaurant operators regardless of segment, cuisine or service options.

            Let’s take a quick look at some offerings of what the industry can expect in the coming year.  Local sourcing of natural ingredients while reducing food waste (isn’t that how the business began and sought to profit?).  Locally produced wine, spirits and beer (are we coming full circle as originally this was the only method of procurement?).  We appreciate the good intentions of enlightenment for the industry with predictions; however, isn’t this a statement of the obvious of how operators functioned prior to mass marketing and production?

            In the belief that somethings never go out of style and are always “on trend” we offer the following observation.  Quality food and beverages prepared simply with integrity and sincerity that are both pleasing to the eye and palate and served in the spirit of hospitality will never go out of style.  It’s a simple and easy principle to understand. As industry professionals we’ve seen how hospitality operations can go sideways even with the best of intentions.

            We believe that restaurant operators shouldn’t focus on trend information but on the information provided by their most reliable source, their guests and the community they serve.  While as Americans we prefer to seek a “silver bullet” to fill our sails with wind we should understand that on occasion we’ll need to get out the oars and row our own boats forward.  A concerted effort to grow a restaurants’ business must include an eye towards understanding how the trends will affect that business and how to stay ahead to remain profitable.

            Few businesses can remain profitable if they don’t evolve their business model or client offerings to meet consumer demand.  We see this with numerous consumer products and services so why wouldn’t it be true with restaurants?  We believe a focus on the basics such as culinary, service and supporting staff while adopting appropriate technology will provide the best foundation moving forward to meet and exceed the consumer trends that turn into business drivers.  We’re looking forward to a great 2017 and wish all a happy and healthy New Year!