The Coronavirus pandemic has devastated restaurant sales in nearly every market. This report explores Euromonitor’s just-updated 5-year forecasts on the industry, offering insights and analysis on potential strategies and Coronavirus (COVID-19) impacts in the near to mid term.
This report comes in PPT.
While the impact of COVID-19 has differed dramatically across markets, the damage done to restaurant sales has been close to universal - with few exceptions, consumers stayed away from restaurants regardless of local government mandates.
China and other Asian markets, as well as New Zealand and Australia, were the first to be impacted by COVID-19, and thanks to generally effective policy responses (lockdowns, effective testing, contact tracing, and isolation regimes, and widespread mask use among the population) were among the first to bring the outbreak under control, though flare-ups are ongoing.
The pandemic has intensified - not created - a shift away from specific locations, as foot traffic and consumer mobility give way to the smartphone as the primary driver of foodservice discovery and (increasingly) usage. At the same time, better-capitalised chains have outperformed, able to adapt their operations more effectively than independents, on average.
Restaurant industry becomes more home-centric, even while moving into more occasions, a long-term trend that COVID-19 has only accelerated.
Beyond driving the expansion of chains in many markets, the pandemic is reinforcing a number of shifts in global foodservice, above all a shift to a more delivery- and smartphone-driven industry, as consumers globally look for cheaper, more convenient options that require less human contact.
Consumer foodservice is composed of cafés/bars, full-service restaurants, limited-service restaurants, self-service cafeterias and street stalls/kiosks.
See All of Our DefinitionsIf you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!