Food Week: June 22 – 27, 2020

Happy Friday!

Macro:
Set a record for COVID cases in a single day, another 1.5 million on unemployment, the stock market cratered. Sigh.

Retail and Consumer:

  • Fresh produce continues to show double digit growth. Turns out the way to get Americans to eat their veggies was to force them to stay home.
  • From Foodondemandnews.com. The growth of online delivery and pickup continues to accelerate

Restaurants and Foodservice:

  • McDonald’s re-considering all day breakfast.
  • Outdoor dining is great for diners, not so much operators.
  • Employment at restaurants  has not rebounded even as they re-open. It’s uneven and varies by sector and geography. But some of the issues are:
    • Fears by workers about their safety
    • Restaurants are slow to reinstate dine-in and are slow to re-staff.
    • Temporary unemployment pays better than the wages that workers were making in the restaurants.
    • PPP loans have arcan rules which slows re-hiring

Lagniappe:

  • Padma Lakshmi has a new series on HULU that tracees American food from restaurants all the way back to the source. I am looking forward to it.
  • 25% of consumers avoid products with one of the top nine allergens, according to FARE.

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