Welcome to the July edition of Bord Bia's Ireland Market Foodservice Newsletter.
Hard to believe that a month has passed since our Bloom Trade Breakfast on June 1st. We were delighted to welcome over 250 Foodservice and Retail buyers to meet with the 100+ Irish food and drink producers exhibiting in our Food Village.
We have short profiles with relevant contact details for each of those exhibitors available via our bespoke Food Village Exhibitor Profiles Flip Book. Just click on this link for more information!
How Restaurants are appealing to Gen Z
Who are Gen Z; what are they looking for and how can restaurants meet their needs?
By way of a recap, Gen Z is the generation that follows Millennials and includes anyone born between 1997 and 2012 – i.e. currently between 11 and 25 years old. They are the first generation to live their entire lives in the digital ecosystem, using their devices for everything.
When it comes to dining out and food consumption, it’s not just taste and presentation of food that drives Gen Zs decision making. They are also looking for restaurants to address social responsibility; sustainability; dietary restrictions and menu customisation (amongst other demands).
Freddy’s Frozen Custard & Steakburgers restaurant chain in the US is adapting to Gen Zs heavy digital use, responding to their hunger for customisation and respecting their emotional investment in the company’s social sustainability activity and according to CEO Chris Dull, it’s all helping to drive brand loyalty with this demographic.
Growth in Irish economy forecast by Central Bank, but core inflation won’t peak until end of year
Business Post – 21.06.2023
Core inflation in the Irish economy is expected to grow and run at 4.9 per cent this year, the Central Bank has said in its quarterly bulletin. The latest forecast says that while headline inflation has declined, costs associated with goods and services won’t peak until later this year before declining in 2024, the regulator said. Growth in the domestic economy, however, is forecast to be slightly higher than previously anticipated with the economy now running at full capacity. The government has been warned, however, to not go above its 5 per cent spending rule which would “add significantly” to inflation.
Grocery price inflation slows to 15.8% from 16.5%
www.rte.ie – 26.06.2023
New figures from Kantar show that grocery inflation rose by 15.8% in the 12 weeks to June 11, down on last month's level of 16.5% and the lowest level of inflation seen so far this year. Over the 12 weeks to June 11, the growth in sales of own label (15%) was almost double that of brands (7.8%) as shoppers look for ways to save money. Kantar said that with the cost-of-living crisis bringing change to traditional shopping and eating behaviours, people are thinking more about what they eat and how they cook at home.
Camile Thai launches first ever breakfast menu
Dublin Live – 16.06.2023
Popular Thai restaurant chain Camile has joined the breakfast club, announcing details of its first ever breakfast menu. From grab-and-go breakfast bowls to the hearty Thai Fry, the brekkie options are - for now - only available in Circle K Dublin Airport. However, there are plans for a wider roll-out over the coming months. Camile Thai Kitchen's breakfast menu will have a variety of options available daily from 7:30am. Examples include the veggie and pork belly Thai fry with potatoes, eggs, chillies and peppers, and the fruit-infused mango and berry rainbow bowls which include granola with smoothie and fresh fruit, topped with nut butter, chia seeds and coconut flakes.
Azzurri Group enters Mexican fast-casual market with Boojum acquisition
Propel Newsletter – 19.06.2023
Azzurri Group, the ASK Italian, Zizzi and Coco Di Mama operator, is to broaden its portfolio and enter the Mexican-themed fast-casual restaurant market, with the acquisition of the Belfast-based burrito chain Boojum. The Steve Holmes-led Azzurri has acquired a controlling interest in the 14-strong Boojum from Renatus Capital Partners, for an undisclosed sum, and will now look to help the David Maxwell-led business grow both in Ireland and in Great Britain, where it hopes to make its debut before the end of this year. Boojum first opened in Belfast in 2007. In 2015, Renatus Capital Partners and the Maxwell brothers – David and Andrew – partnered to acquire Boojum.
Louis Fitzgerald Group Acquires Cork’s Imperial Hotel
Hospitality Ireland – 12.06.2023
The Louis Fitzgerald Group has announced that its acquisition of the four-star Imperial Hotel in Cork City is now complete. The family business, headed by Louis Fitzgerald and now in its 54th year, includes the Arlington and Louis Fitzgerald hotels, Joel’s restaurant, An Poitín Stil, the Stag’s Head, Kehoe’s pub, the Quays bar in Galway, and, most recently, Murphy’s bar in Galway. Commenting on the purchase, Louis Fitzgerald said, “We have been an admirer of the Imperial Hotel for some time. The hotel has an incredible history and has built a fantastic reputation as one of the country’s most luxurious and boutique city hotels to stay in. This is a credit to the team in place there, and we look forward to working with them to continue to innovate”.
Dublin-Based Staycity Group Experiences Record Turnover
Hospitality Ireland -13.06.2023
Dublin-based European aparthotel operator Staycity has seen the past 12 months of trading break the €200 million turnover threshold for the first time, the company confirmed this week. Improved trading prompted by the re-emergence of business travel, the increasing popularity of city breaks and 12 new property openings over the past 18 months has helped the group reach record sales in the 12 months to 1 May 2023, while turnover for 2023 is on target to reach €230 million. Occupancy trended at 89% in the second half of 2022, while operating margin for the year rose to 17% as the business scaled up in size. New openings, most notably in London Paddington and Dublin City Centre, performed ahead of expectation.
Construction Commences On £23m Sysco Belfast Distribution Facility
Hospitality Ireland – 20.06.2023
Ground has been broken on a new Sysco Belfast distribution facility at Nutt’s Corner, Co. Antrim, as Sysco Ireland presses ahead with its growth plans in Northern Ireland. Sysco Ireland envisages that the new facility will enable it to double the size of its Northern Irish business over the next five years. The development, being undertaken by Magherafelt-based construction company Heron Bros, forms part of a £23 million investment by Sysco Ireland in its Northern operation. The construction is expected to create approximately 200 jobs and take approximately 18 months to complete, with the distribution facility opening expected to occur in early 2025.
Just Eat expanding further into grocery market
www.rte.ie – 27.06.2023
Online delivery platform Just Eat is looking to expand further into the grocery market in Ireland. A new report from the platform reveals that grocery is a rapidly growing area for the food delivery and takeaway sector with almost a quarter of Irish people having used a food delivery service to order groceries in the past year, spending an average of €174.30 on grocery delivery services in a month. Over the last 12-18 months, grocery has been a key focus for Just Eat globally and is an area of rapid growth for the business. It says customers can expect more choice and flexibility when ordering via its platform in the future, as it forges new partnerships with supermarkets and convenience retailers. The Just Eat Takeaway & Food Delivery Report examines trends and consumer habits. The total annual expenditure on food delivery and takeaway orders in the Irish market is an estimated €2.2 billion, excluding VAT.