Market Trends

📈 The US economy added 256,000 jobs in December, unemployment rate fell to 4.1%. Leisure and hospitality sector grew by 43,000 positions in December, with an average of 24,000 jobs added monthly in 2024, versus 47,000 in 2023. Eating and drinking places added 29,800 jobs in December, up from 23,200 in November. Overall, 172,500 net new jobs were created in 2024 at these establishments, down from 309,000 in 2023. The industry is now 1.4% above its February 2020 peak. Full-service remains 4% lower, while quick-service and fast-casual are 4% higher, and snack/beverage concepts 17% higher than pre-pandemic levels. Twenty-four states and DC have fewer jobs than in November 2019, while 26 states are above pre-pandemic employment. Average hourly earnings' growth slowed, with year-over-year wage growth at 3.8%, the lowest since May 2021.

📖 Saladplate, part of Informa Markets, serves as the official content and engagement hub for the Hospitality, Food and Beverage industries, offering weekly news updates, a monthly newsletter, and a bi-monthly e-magazine. It provides exclusive insights into over 10,000 brands and companies, alongside updates from over 35 international trade events.

💪 Since 2020, health & wellness has been the leading mega-trend, fueled by the COVID-19 pandemic, which shifted focus to immunity and mental wellness. Continuous tracking of this trend is crucial for addressing consumer behavior and demands.

🥃 Indian whiskeys, often called "rum whiskeys," are blended malts made with molasses and can mature within a year due to India's hot weather, contrasting with Scotch and Irish whiskeys' three-year maturation. This rapid aging process and the common practice of selling Indian brands with low-age or no-age statements have impacted their reputation among whiskey enthusiasts.

🍜 Since 2018, plant-based dairy and meat alternatives have gained traction in the Asia-Pacific region. The global meat supply chain disruptions and increased concerns of disease transmission via meat during COVID-19 in 2020 further accelerated this growth, leading to more consumers trying plant-based meat alternatives.

🏨 In a January 9, 2025 episode, Ben Rafter, CEO of Springboard Hospitality, discusses his transition from the tech industry to hospitality, blending technology with a guest-centric approach. Insights include lessons from the 2008 financial crisis and the importance of data, personal development, and AI in hospitality. 🎧 Listen to transform these innovative ideas into action.

🏨 STAAH, a leading technology firm, analyzed hotel reservations across 500+ integrations worldwide to determine top booking channels. Key findings include the dominance of OTAs such as Booking.com, Expedia, Agoda, and regional players like GoMMT, Traveloka, Tiket.com, and Pitchup.com. Trip.com and Hotelbeds also showed gains. Direct bookings through STAAH SwiftBook ranked high in New Zealand (2nd), India (4th), and the UK. B2B OTAs and STAAH GDS show strong growth, indicating a diverse, multichannel approach is effective in reaching niche markets.

🌱 UK's luxury organic skincare brand GAIA Skincare has partnered with SANté Wellness Retreat & Spa in Cape Winelands, South Africa, to provide handcrafted products and enhance wellness experiences. The alliance merges GAIA's natural, holistic care philosophy with SANté’s wellness approach. Guests at SANté can now enjoy bespoke GAIA skincare rituals within the spa’s tranquil environment, surrounded by mountain views and lush gardens. Diane Nettleton, GAIA’s founder, celebrates this first international collaboration, born from a meeting in Bali with SANté's family owners.

🍽 In Walthamstow, supperclub.tube opened in 2018, attracting nearly 11,000 guests and offering a social dining experience three nights a week. Head Chef Beatriz Maldonado Carreño (Bea), inspired by Latin American cuisine, presents a six-course seasonal tasting menu within a 1967 Victoria Line tube carriage at the Walthamstow Pumphouse Museum. The exclusive venue merges industrial heritage with culinary innovation, highlighting Bea's journey from Colombia to training in Argentina under European technique influencers and working under Virgilio Martinez in Peru before joining supperclub.tube.

💸 Labor costs in restaurants account for around 30% of overall expenses, influenced by a 75% turnover rate and non-tipped staff like kitchen workers and managers. Fixed costs, while generally constant, can offer negotiation opportunities. A Bain & Company and Harvard Business School study shows a 5% increase in customer retention could lead to at least a 25% profit boost, with up to 90% for some. For example, a 15% revenue increase on a $1 million restaurant could almost double profit margins, from 10% to 17%.