Preparing for the holidays: What you should know about cost and procurement

What’s in store for operators this year as we head into the holiday season?

Last year, we saw shortages with turkey, the traditional center-of-plate menu item for Thanksgiving and beyond. From traditional to trendy items and labor costs, Entegra has you covered with the latest information to get you ready to throw open your doors.

Beef, turkey and ham: traditional center-of-plate cost forecasts

While Entegra’s supply chain team doesn’t anticipate continued shortages of turkey, they are seeing an uptick in the cost of beef. With even fewer cattle expected to go to market in 2024, beef supplies are projected to remain tight while prices are forecast to increase.

So, prepare now for higher prices for holiday items like tenderloin and prime rib. An alternative could be pork. Holiday ham should be attractively priced for operators. Production has been higher than expected in 2023 with soft demand pushing pricing lower.

Interested in commodity price forecasts? Check out the Cost Outlook for an overview of how and why prices change for key ingredients.

Ingredient innovations: new products and trends and forever favorites

Recreate the Barbie world by incorporating pink into your menu. From cocktails to smoothies to cake frosting, not only is pink trending because of the movie, it’s a fun and festive color to add to your holiday food and décor.

Entegra suppliers are offering holiday treats like:

• Pink chocolate chips. Add these to cookies for centerpiece-worthy cookie trays or melt them down for frostings or drizzles.
• Seasonal creamers for coffee service. Flavors like pumpkin spice and peppermint mocha make these months special. Both flavors drive business from younger consumers, over-indexing among Gen Z and Millennials.
• Charcuterie board inspiration. Learn how to choose the perfect cheese.

Deck the halls with holiday décor

Entegra’s Trends Report highlighted lavender as an up-and-coming color for 2023. Added to neutral and natural tablescapes, plant walls or wreaths, this color of the year will complement these other seasonal trends.

• Natural and neutral. Think creams and beiges, burlap and yarn balls to create a sense of warmth and welcome. With the pop ularity of the modern farmhouse look, extending this décor into your business could attract more interest.
• The vintage look. Add a touch of hominess with retro favorites like crackled glass ornaments, snowy village scenes or electric train sets circling a central area.
• Bringing nature inside. Whether it’s in a dining room or hotel lobby, pumpkins, gourds, trees and garland (real or faux), lend a touch of holiday spirit wherever they’re placed.

Setting the mood through color, holiday lighting, the scent of fir or pine and live greenery can help you create the perfect vibe for customers. It shows that you’re in sync with what they care about and welcome them into your establishment.

Staffing your business for the holidays

Finding enough staff to operate smoothly is a challenge right now, and competition to keep those workers is fierce — even when businesses offer higher wages.

• According to Nation’s Restaurant News, 77% of consumers planned to go out to eat during the holiday season.
• New Year’s Eve is one of the restaurant industry’s busiest days.
• According to the American Hotel & Lodging Association's (AHLA) Hotel Booking Index Survey, 31 percent of Thanksgiving travelers planned to stay in a hotel during their trip.

Hiring and training new staff and getting them up to speed can be another stressor for management. If that’s the case for your business, adding temporary workers and getting the quickly trained and up to speed can help.

One thing is certain, the holidays are an exciting time that brings opportunities and challenges. If you’re looking for a procurement partner to get through it all, let’s chat.

Call us at 833-977-1765 or contact us to get more information about putting Entegra’s purchasing power and business performance improvement solutions to work for you.