As we say goodbye to 2021 and the many challenges that it brought to the business world amidst the ongoing COVID-19 pandemic and omicron variant news, not to mention Brexit, we are now looking towards what the New Year may hold. Britain’s economy is beginning in 2022 on the back foot as record numbers of coronavirus infections and harder restrictions driven by the Omicron variant cloud the growth outlook. It’s also obvious when you don’t have a lot of investment, which is a barrier to growth, when at the same time, the rate of incomes has been going down. In some countries, border restrictions have led to flight cancellations and driven up cargo rates.
According to The Guardian website, we can see the distance of the pre-pandemic peak at just 0.5% below its February 2020 level in October, despite official figures showing the UK lags behind every country in the G7, apart from Japan, and as a result inflation is one of the main issues that is necessary to be considered.
The UK was not immune from the effects of the coronavirus on inflation. No one may not notice price rises from month to month, but right now, prices are rising so quickly that average pay is not keeping up and the money people earn does not go as far. As the rate of inflation went up quickly in 2021, an increase of 5.4% in December of 2021 from 5.1% in November and above market forecasts of 5.2, banks expect it to reach over 7% by spring 2022 and then start to come down after that.
The inflation rate is used to measure the current cost of living. It includes the current price of goods and services, including fuel, energy bills, food, clothes and even things like the cost of second-hand cars. When the price of basic goods and services increases, households gain less for their money, which means; the pound value has languished. In real terms, it means that the £10 note in your pocket doesn’t stretch as far, which causes consumers to reduce the volume of purchases or use more money to get what they need. Therefore, the food industry has undergone and will have broad changes under the influence of the current world.
Technology will continue to accelerate at a feverish pace in the F&B industry and permeate every sector and process, everything will have some changes; we can refer to autonomous vehicles, drone deliveries, smart refrigerators, robotics, AI, weed-picking robots, Viome to check your gut, and Blockchain. F&B has become the new tech industry! The main plan of 2022 would be the strong UK and global demand for their company’s goods and services rather than policy instruments.
The food industry changes continuously and will always have something new to say. Now it has new updates for 2022, top news outlet Financial Times declared some modifications in certain foods categories like frozen foods. Frozen foods will always have their place in the food industry, and they will continue to grow but with higher quality and higher health and every changing. Restaurants are providing new menu items for frozen foods, gluten-free foods are one of the frozen products that are an example in this case. On the other hand, outdoor dining and ghost kitchens will continue to enrich, there are now approximately 750 ghost kitchens (dark kitchens), operating across the UK with an increasing number of restaurant brands, delivery companies and start-ups investing heavily in the delivery and takeaway sector.
Weetech is one of the UK best companies which provides the complete package for takeaways and restaurants to empower their businesses with no commission! Chef Screen is one of the Weetech’s new products that facilitates the ordering process which monitors all orders simultaneously, avoiding language barriers, and reducing cost.
Mealzo (an online food ordering platform), PDQ Terminal Payment ( A payment system), Customer Ordering Status (to track the orders and view live status) are other projects of the company. On the other hand, it has ideal plans for the future too, projects like; Android point of sell (APOS) Systems for Website Orders, Self-ordering WeeKiosk, Self-serve Order & Payment with QR Code, Terminal Payment, and Dogecoin cryptocurrency.
Click to read more about Weetech’s Future projects on:
Consequently, the world changes quickly (ahem, Covid), so all of the UK must keep up with the movement. Remaining up to date with business trends in 2022 and beyond is critical for the UK business sector to survive. Don’t be a straggler and risk sinking into the deep.