The pandemic has significantly impacted businesses all over the world. Different industries learned to adapt and change their business models to survive. The food and beverage industry in particular found it challenging to stay afloat during this trying time. According to the National Restaurant Association, the industry experienced a drastic economic free fall in 2020: 87% of restaurants reported a 36% drop in sales, and 17%—over 110,000—have shut down in the U.S. alone. The good news is that things are starting to look up: In their mid-2021 State of the Restaurant Industry Report, food service and restaurant sales projected a rise of 19.7% from 2020.
October 27, 2022