After A Tough Year, The Restaurant Industry Is Poised To Bounce Back – But Not All At Once
2020 has inflicted challenge upon challenge to the restaurant industry. While growth looks promising in the coming year, it will be an uneven, rocky path to change. According to recent studies, recovery will be uneven across different geographies; restaurants will continue to rely on digital engagement avenues, and alternatives to the norm will continue to spring up and see success.
While recovery will occur unevenly across U.S. restaurants, the damage hit every state in the country. Restaurants in every state suffered from lockdowns and a population clearing grocery stores’ shelves to plan for long periods of eating at home. Because re-openings are determined on a state-by-state basis and will continue to be choppy while we await a comprehensive vaccine rollout, the restaurant industry as a whole will recover in fits and bursts.
We can expect to see restaurant brands continue to find ways to remain efficient and to cut costs. The pandemic reminded the industry that margins are narrow, and sales gaps can be catastrophic. Operating lean has forced some excellent practices that are likely to stick – just as digital enhancements and the availability of online ordering is expected to build lasting habits for customers. Plus – by summer, the economy is likely to see a spending boom that will help pull many service industry businesses out of their hardship.
If you’re a restaurant chain, or a single location looking to prepare yourself for better days ahead – and win customers right now, ASTRALCOM can help. Learn more about our experience in the restaurant biz.