Hey Hot Potatoes,

Welcome to the latest edition of the Hot Potato Newsletter. Well, first and foremost, wishing you all a bloody Merry Christmas and Happy Holidays! You’ve made it to the end of the year, and however you’re choosing to spend today and the next week, I have no doubt you deserve a well earned break, so be sure to put your feet up and celebrate. I always find the week between Christmas Day and New Years gives groundhog day energy… you’re not sure what day it is, routine is out the window and you may recall that I enjoy living off turkey and red wine during this period! I also always take a moment to pause this time of year and reflect, look back on the year, write down what went well, what challenges I faced and where I could improve. In today’s short newsletter (as it’s Christmas), I am going to be taking you through my seven takeaways from this year (no pun) and a quick note of gratitude to express my thanks!

In today’s email: My seven takeaways from this year.

Read Time: Approx 3 mins

My key takeaways from this year.

Reflecting on what has been an absolutely full on year for the hospitality sector, here are my key takeaways from 2024.

Key Points:

1. Cautious optimism: This year was without a doubt another challenging year for hospitality, but green shoots have started to appear. With food inflation dropping, net new openings increasing, and several operators expanding, things feel more positive than this time last year. While we're not yet out of the woods, I always try to maintain a glass half-full attitude and feel there is more optimism in the air.

2. Sandwich sector booming: We’ve seen the grab and go sector specifically come on leaps and bounds this year. There have been some new and existing players absolutely smashing it this year, the likes of Sandwich Sandwich, It’s Bagels, Doms Subs, Dusty Knuckle and Panadera to name a few. With the hard impact of the cost of living, customers are looking for a meal that won’t break the bank, and sandwiches seem to fill that void. A great bite for under £10… you can’t argue with that!

3. Niche wins: As we’ve explored in our recent edition, in a saturated market, by focusing on a narrow offering and finding your niche, you can win big. We’ve seen some really successful brands focusing on their niche, like La Maritxu, Humble Crumble, Hash Hut, Flat Iron, Supernova and Sushi Dog. Standing out in a crowded market is becoming increasingly important. If I was launching a food brand, I would focus on one or a handful of menu items.

4. Cross industry collaborations: 2024 has been the year where we’ve seen big crossovers between hospitality and other sectors like fashion, drinks and retail. Fashion brands like Gucci and Jimmy Choo teamed up with local coffee shops Monocle and Shreeji News for London Fashion Week campaigns. There’s no doubt this trend will continue into 2025, we have already seen How Matcha are teaming up with Miu Miu in January, kicking the new year off on the same trajectory. Other notable collaborations that stood out include Heinz and Morleys, as well as PerfectTed and Crosstown Doughnuts, helping to drive brand awareness and revenue. Big wins!

5. Health is wealth: The saying health is wealth couldn’t be more true, and we’re finally seeing it translate into the sector. The salad and healthy eating options have historically been fairly limited, but this year we’ve seen big growth in the space, with players like Farmer J, Atis and The Salad Project filling that green gap. Brands are finally capitalising on consumer habits by swaying towards healthier eating, and it looks like they’re here to stay.

6. Treats are always a good idea: When times get tough, customers like to draw back on their spending, which is very understandable. However we’ve seen low cost sweet treats, like baked goods and pastries, are much more resilient in tough economic times, where customers tend to forgo larger expenses and spend on small sweet experiences instead.

7. New York comes to London: 2024 has given the pizza sector a massive shake up, thanks to the influence from our friends over the pond in New York. The pizza scene in the UK has been stagnant for a while, with the likes of Pizza Express, Franco Manca and Neapolitan Independents dominating for a while. However now the thin crust, NYC style is rocking the boat, bringing a fresh spin on things. Big shoutout to the likes of Crisp Pizza, Alley Cats, Vincenzo’s and Lenny’s Apizza pioneering the space.

A quick note to say thank you!

As 2024 wraps up and I look back on the year, whilst feeling knackered, I feel proud of what I’ve achieved in both my personal life and career. It’s been a super busy year, but one of growth, where launching Hot Potato was a big step in the right direction.

I have always felt the desire to start something and grow it, but never quite knew where to start. Hence Hot Potato being born mid way through this year, and with 25 newsletters in, it’s taught me some valuable lessons around hard work, consistency and a number of other things, like how to grow a business, how to become better at writing and even the basics of Canva. There’s a lot more to learn and there are some big plans in store for 2025, I’m excited!

Finally, I just wanted to say a big thank you to all of you, thank you for subscribing, following along the Hot Potato journey and consistently reading my newsletters, it’s massively appreciated. I wish you and all your loved ones a Merry Christmas and Happy New Year… here’s to 2025!

Ready to make 2025 your most successful year yet? Our first newsletter of the year hits your inbox next week, packed with five budget-friendly strategies to boost your revenue. We'll show you how to score quick wins that deliver real results without having to burn a hole in your pocket. Start the year strong with actionable insights you’ll be able to implement right away!

Thanks for reading and don’t forget to subscribe to stay updated weekly on all things hospitality!

Bon appétit,

Max Shipman, Founder, Hot Potato

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