bake - Special Report - May 2023 - 36

to make lender oversight and
borrower protection stronger and
less resource-intensive than was
possible when the SBLC moratorium
was put in place.
These rules build upon a previous
announcement on the Community
Advantage Pilot Program that
increased the maximum loan size
from $250,000 to $350,000, lifted
the four-year lender moratorium,
enabled the SBA to expand the
lender network, and allowed lenders
to offer lines of credit, interest-only
periods, and other loan modifications
that meet the needs of small
business borrowers.
A reference to this rule is available
in the Federal Register at the
following link: Affiliation and Lending
Criteria for the SBA Business Loan
Programs here.
Food inflation
Last year, food inflation at retail
and foodservice exceeded levels
reached during the Great Recession.
Even with inflation currently moderating,
higher food prices will
36
continue influencing consumers'
spending and eating behaviors
this year, reports Circana, formerly
IRI and The NPD Group. Food will
always be consumers' priority in
tough and good economic times,
whether eaten at or away from
home, according to Circana food
and beverage and foodservice
industry analysts speaking at the
company's Growth Summit, held
in Las Vegas, March 20-22. When
faced with higher prices, consumers
will use multiple tactics to reduce or
reallocate at- and away-from-home
food spending, like trading down to
private label, buying in bulk, using
more leftovers, or choosing a quick
service restaurant over a fullservice
restaurant.
Of the $2.9 trillion in consumer
retail spending Circana tracks,
food and foodservice spending
represents the largest share, nearly
$1.5 trillion. Food inflation for the 12
months ending February 2023 was
10.2% at home and 8.4% away from
home. Although the rate of awayfrom-home
inflation isn't as high as
Higher food costs have had an impact on
discretionary spending by consumers.
at home, foodservice costs are more
than four times those of at-home
eating occasions, with the absolute
dollar gap widening. Higher
food costs have had an impact
on discretionary spending. David
Portalatin, Circana food and foodservice
industry advisor, told Growth
Summit attendees that some of
the declines in discretionary retail
spending last year were due to the
need to fund higher spending on
food and beverage.
At- and away-from-home food
and beverage sales grew 8% in 2022,
exceeding historical norms. At-home
food spending remains a larger
portion of the food and beverage
sales, 61%, which corresponds with
the 86% of annual eating occasions
sourced from grocers and other
retail outlets, said Cara Loeys, principal,
of CPG client engagement at
Circana, presenting with Portalatin
on the " Complete Food & Beverage
Consumer " at the Summit. Retail
Bake Magazine Digital Special Report 2 | Volume 4 | bakemag.com
JOHN UNREIN
http://www.bakemag.com

bake - Special Report - May 2023

Table of Contents for the Digital Edition of bake - Special Report - May 2023

bake - Special Report - May 2023 - Intro
bake - Special Report - May 2023 - 1
bake - Special Report - May 2023 - 2
bake - Special Report - May 2023 - 3
bake - Special Report - May 2023 - 4
bake - Special Report - May 2023 - 5
bake - Special Report - May 2023 - 6
bake - Special Report - May 2023 - 7
bake - Special Report - May 2023 - 8
bake - Special Report - May 2023 - 9
bake - Special Report - May 2023 - 10
bake - Special Report - May 2023 - 11
bake - Special Report - May 2023 - 12
bake - Special Report - May 2023 - 13
bake - Special Report - May 2023 - 14
bake - Special Report - May 2023 - 15
bake - Special Report - May 2023 - 16
bake - Special Report - May 2023 - 17
bake - Special Report - May 2023 - 18
bake - Special Report - May 2023 - 19
bake - Special Report - May 2023 - 20
bake - Special Report - May 2023 - 21
bake - Special Report - May 2023 - 22
bake - Special Report - May 2023 - 23
bake - Special Report - May 2023 - 24
bake - Special Report - May 2023 - 25
bake - Special Report - May 2023 - 26
bake - Special Report - May 2023 - 27
bake - Special Report - May 2023 - 28
bake - Special Report - May 2023 - 29
bake - Special Report - May 2023 - 30
bake - Special Report - May 2023 - 31
bake - Special Report - May 2023 - 32
bake - Special Report - May 2023 - 33
bake - Special Report - May 2023 - 34
bake - Special Report - May 2023 - 35
bake - Special Report - May 2023 - 36
bake - Special Report - May 2023 - 37
bake - Special Report - May 2023 - 38
bake - Special Report - May 2023 - 39
bake - Special Report - May 2023 - 40
bake - Special Report - May 2023 - 41
bake - Special Report - May 2023 - 42
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