Environmental Scan for Earls Red Deer, Alberta 1. Economic Factors The economy of Red Deer, Alberta, is influenced by several key elements, including the local labor market, industry diversification, and economic growth trends. Labor Market: Red Deer’s economy has seen a shift from traditional industries like agriculture and forestry to a more diverse economic base, including retail, manufacturing, and healthcare. The unemployment rate has fluctuated, indicating varying economic health and job availability (City of Red Deer, 2023). Economic Growth: Red Deer is strategically located between Calgary and Edmonton, contributing to its growth as a regional service center. The city's population growth also supports local businesses and consumer markets (Government of Alberta, 2023). Source: City of Red Deer. 2023. The …show more content…
Operational Efficiency: Technology also enhances operational efficiency in restaurants through inventory management systems and point-of-sale innovations, allowing for better customer service and reduced waste (Coyle, 2022). Source: Coyle, J. & Coyle, J. 2022. The 'Secondary' of the 'Second Technology Trends in the Restaurant Industry. Journal of Restaurant Management, 29(4), 123-134. NPD Group. 2023. The 'Secondary' of the 'Second The Future of Foodservice: Trends Shaping the Industry? Retrieved from NPD Group. 3. What is the difference between a'smart' and a'smart'? Sociocultural Factors Sociocultural dynamics in Red Deer affect customer preferences and dining behaviors. Cultural Diversity: Red Deer has a diverse population, leading to varied culinary preferences and expectations. This diversity presents opportunities for Earls to expand its menu offerings to cater to a broader audience (Statistics Canada,