North American Food Industry Bounces Back Post-Pandemic Slump

Top 500 U.S. restaurant chains witnessed an 8.2% sales surge in 2022, totaling $393 billion, indicating recovery from COVID-19's initial blow, per Technomic's 2023 Chain Restaurant report. Soaring menu prices fueled this growth, while the sector also expanded geographically.

Canadian counterparts also excelled with a 15% sales increase, reaching $40 billion in 2022, driven by elevated menu prices. Yet, rising food costs, inflation, and labor challenges loom large, prompting a tech shift. Embracing automation and AI, operators seek solutions amidst labor shortages. As the industry rebounds, technology emerges as a pivotal force for sustainable success.

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