Industry Insights A roundup of noteworthy Canadian foodservice findings for the week of Oct. 5, 2020
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Industry Insights A roundup of noteworthy Canadian foodservice findings for the week of Oct. 5, 2020
I G N I TE C O M PAN Y
Diversification is Key
During COVID-19
As restaurants face sales declines and continues to transition several of its
lower customer traffic due to the Ontario units into cannabis
pandemic, operators are rebranding dispensaries.
and launching new concepts as ways to
Throughout COVID-19, Canadian
diversify revenue streams.
cannabis sales have been hitting all-
For example, Paramount Fine Foods time highs, according to Statistics
recently introduced a fried chicken Canada, reaffirming consumer interest.
concept called Krispo Chicken, which The new company, Hemisphere
directly responds to the demand and Cannabis Co., plans to transition
popularity of comfort fare throughout several more locations by 2022 to keep
this pandemic. The new Toronto up with this demand. Pending
location offers fried chicken deregulation, the company is also
sandwiches, buckets of crispy chicken exploring the possibility of partnering
and savoury sides, including macaroni with Second Cup in the future to offer
and cheese. THC and CBD beverages.
Second Cup Coffee Co. is also
leveraging pandemic trends as it
Paramount Fine Foods recently introduced
concept Krispo Chicken
Source: Technomic Ignite company data Image Source: Krispo Chicken Facebook
© 2020 Technomic, Inc. 2
I G N I TE M E N U
Chains Spotlight
Local Ingredients
Amid the pandemic, a renewed sense locally sourced products. It said within
of community has precipitated a greater two years it will only use products made
appreciation for local front-line workers or grown in Canada.
and businesses. Restaurants are also
Consumers are responding to these
showing this appreciation, especially for
local ingredients. In fact, more than four
local farmers.
in 10 (43%) agree that food and/or
For example, The Pickle Barrel is beverages described as local are
celebrating Ontario farmers by slightly or much tastier.
launching nine limited-time menu items
featuring local ingredients. The
Rainbow Trout, for example, includes
trout fillets from Manitoulin Island, corn
from Waterford and local seasonal
vegetables. Additionally, Benny & Co.
recently announced plans to offer 100%
Source: Technomic Ignite menu data featuring the 2018 Canadian Healthy Eating Consumer Trend Report, The Pickle Barrel’s Rainbow Trout
approximately 300 consumers Image Source: The Pickle Barrel Twitter
© 2020 Technomic, Inc. 3I G N I TE C O N S U M E R
28%
A Cup of Joe
of consumers are purchasing regular coffee from
foodservice less often now than two years ago,
with 78% saying it’s because of COVID-19
From Home ACTIONS TAKEN BY CONSUMERS WHO ARE PURCHASING
COFFEE LESS OFTEN FROM FOODSERVICE DUE TO COVID-19
34%
With home becoming the new office Even with this shift, opportunity does Buying premium/higher-quality coffee
and classroom for many, we’re seeing exist for operators. For example, from stores/ 42%
consumers, especially younger operators can sell their own coffee and online to make at home
consumers ages 18-34, adjusting their tea brands to consumers via retail/e- 31%
coffee routines. commerce for at-home consumption as
a way to boost revenue.
Among those who are purchasing 17%
coffee less often from foodservice due In addition, brands can further drive Purchased a coffee
to COVID-19, the most common consumer traffic by highlighting menu 30%
machine
behavioural shift has been the purchase offerings that consumers can’t easily
12%
of premium coffee from retail for at- make at home or launch seasonal LTO
home use. Additionally, 17% of favourites, such as pumpkin spice
consumers are even going so far as to lattes. 4%
buying a new coffee machine, which Subscribing to coffee subscription
reflects the long-term duration of at- programs that mail new coffee 9%
home consumption. varieties each month
2%
Overall 18-34 35+
Source: Technomic Ignite consumer data featuring the 2020 Canadian Beverage Consumer Trend Report, 256 coffee
consumers who are purchasing coffee less often from foodservice due to COVID-19
© 2020 Technomic, Inc. 4G L O B AL F O O D S E RV I C E N AV I G ATO R
Going Public Amid
the Pandemic
The global pandemic is hitting reportedly plans to launch its IPO in
restaurants particularly hard, yet these Hong Kong next year.
operators are looking to go public.
Nayuki Tea | Specialty | LSR
Kyochon | Chicken | FSR After a reported US$100 million funding
South Korea’s No. 11 chain has been round, the China-based tea chain plans
prepping its IPO since 2018 and got to launch an IPO in Hong Kong.
clearance for it in September.
Tealive | Specialty | LSR
Paik’s Coffee | Coffee | LSR Malaysia’s second-fastest-growing
The Born Korea, parent of South chain expects to raise up to US$72
Korea’s No. 4 coffee chain, began million with a planned IPO in 2021.
prepping its IPO in April.
Guzman y Gomez | Mexican | LSR
Barbeque Nation | Varied Menu | FSR Australia’s No. 2 chain in the Mexican
India’s biggest FSR got greenlighted for category, Guzman y Gomez started
its IPO in July and hopes to fetch up to readying its IPO after the crisis hit.
US$200 million.
Technomic tracks restaurant chain
Heytea | Specialty | LSR news and developments daily across 25
The innovative cheese-tea pioneer countries in a dozen languages.
The No. 20 chain in China, Heytea is reportedly prepping for
an IPO in Hong Kong in the near future
Image Source: Heytea Singapore Instagram
Source: Technomic Global Foodservice Navigator Program
© 2020 Technomic, Inc.WAN T M O R E I N S I G H T S ?
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