How are people in the specialty food business dealing with the economic crisis? From what I heard from friends at the Fancy Food Show: some are laying off employees, some are switching to more industrial products, some are reducing their range of offerings, some decided to not pay their producers until further notice, i.e. until the euro calms down. No good news, in particular for the poor vendors.
We, on the contrary, are hiring (more on this later); we are increasing our quality standards (our producers call us the food Taliban); we are working hard with Stefano in Italy (more on him later too) to find new exciting products to import; and we pay our producers IMMEDIATELY. Sometimes, they are so small, we even pay them when we place our order, months before we receive it. We paid the producers of our last container today. I was tempted not to, but I did, at an exchange rate of 1.46 per Euro. Not good.