Restaurant owners are concerned about the worst possible scenarios happening due to pandemic outbreaks. Although things seem to be looking up toward the end of next year, continuing updates from health professionals will most likely keep the general public on edge & prevent them from patronising restaurants.
But still, all is not lost. IBIS World predicts restaurant revenue will improve by around five per cent through 2021 as the recovery begins to gain pace. Several experts are predicting the restaurant reset will occur soon. It entails patrons returning to full-service restaurants, which will begin to change business models and start tapping into new revenue streams to help them recover.
Takeaway, delivery and at-home meal kits during a pandemic
A pandemic impacts not only the health of people but also their access to food. As food shortages and safety concerns grow, delivery services have become the go-to for delivering food during a pandemic. With these services, consumers can have their meals at home or on the go without worrying about spoilage.
Delivery has enjoyed a boom across the country. Millions of Australians have shifted from making their food orders to using delivery services in the past two to three years. In that time, Uber Eats, Deliveroo and Menu Log have continued to lead the market, with new player DoorDash launching earlier last year.
More restaurants will embrace set menus and up-sells
COVID-19 social distancing restrictions have led to decreased room capacity in restaurants across the country. The result is closure or changes to business models to stay afloat.
The set menu is a popular strategy that restaurants have been using for years to increase revenue. In recent years, more and more restaurants embrace set menus to increase revenue.
Set menus have been around for a long time because they offer convenience to both customers and restaurateurs. Customers feel like they don’t have to worry about making decisions while the restaurateurs exactly know what they need to provide for their customers.
Restaurant owners use multi-tasking to ease the staffing crisis
Statista reports that more than 270,000 jobs in the hospitality sector have been lost since last year. But restaffing for recovery is proving difficult.
Many restaurant owners in the region haven’t yet been able to get their staff back. Those employees were mostly temporary visa holders and were encouraged to leave during the height of the pandemic. Some restaurant owners say they’re considering cutting staff altogether due to the economic uncertainty.
In-home fine dining will open a new revenue stream
A lot of restaurants in 2020 introduced new delivery and takeaway options in response to customer demand. In 2021, some restaurants even offer in-home fine dining experiences.
More and more clients have become interested in hosting private dinners for friends and family than before. They’re willing to pay up to 50% more than they would have in the past.
Dining at a restaurant might be a tricky proposition, given the tough current market. Still, there’s hope for the food and restaurant industry. It can recover with several adjustments in staffing and services.