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Published by Garrick H. Brown of Brown Consulting, with writing and editing contributions from Ryan Berlinksy and Stefanie Ariganello of Cushman & Wakefield’s Colicchio Consulting team, the new report, The State of Food Halls 2023, examines the exceptional growth rate of this hospitality category – 55% since 2019 – and examines why it is on the rise.
GoTab is all in on the food hall category, with one-of-a-kind features that were uniquely developed for the unique challenges of owners/operators, landlords and their licensees. Our tech is featured prominently, with quotes from GoTab’s CEO, Tim McLaughlin. More importantly, the report provides deep analysis of the trends driving food hall uptake, as well as the key elements of those food halls that are finding success.
It shares the strengths, weaknesses, challenges, and opportunities of these concepts. It covers emerging operational models that their research indicates are ideal for these projects. Finally, it explores the consumer tastes and needs that first propelled food halls into mainstream popularity and what to expect as the emerging, Gen-Z demographic increasingly becomes the most dominant consumer class.
With breweries and restaurants continuing to face labor challenges, food halls are able to keep costs down, increase revenue, and provide a new “third place”; i.e., cultural/ social hub for consumers seeking places where they can renew social connections.
Food halls enjoy a lower failure rate than standalone restaurants with advantages including:
- Reduced labor costs – food halls, by design, can be operated with minimal staff
- Reduced waste – with condensed menu offerings and more carefully curated food types and ingredients
- Geographic optimization – leverage the opportunities to revamp established formats and locations to provide broad appeal
- Third spaces – respond to demographic shifts and desires to reconnect in more dynamic social settings post-pandemic
Finally, the report shares a deep dive into the six critical principles behind food hall success, including:
- Location selection
- Operational performance
- Design strategy
- Programming/ space activation
- Technology
- Vendor/Licensee Curation
The State of Food Halls in 2023 report is available for download today.
Interested in learning more about GoTab's Food Hall POS? Request a demo today.
