The Market Place Vaccine availability, increasing adaptation and the prospect of government recovery assistance have raised business confidence, but pace of recovery will be slow and subject to set-back through 2021, leaving a mixed and apprehensive business environment.
▪ Restaurant Industry Reels –
Warm-weather provided outdoor options for restricted full-service restaurants, and by July, the industry clawed back to pre-pandemic levels. However, late Fall temperatures chilled the industry’s 2020 rally and recession returned – 110,000 (17%) of restaurants have shuttered since March 2020 and less than half intend to reopen December 2020 NRA Operator Survey – 372,000 Restaurant and Bar jobs were lost in December, bringing total 2020 job cuts in this sector to 3.9 million (23%) US Bureau of Labor Statistics – The Quick Service sector ended 2020 slightly under 2019 revenue level, as drive-through and delivery geared facilities, thrived; Chipotle announced plans in January plans to hire 15,000 new workers Nations Restaurant News ▪ Demand Patterns for Supplies are Shifting … Some, Permanently – Gloved and masked servers have become critical customer safety branding issues for restaurants serving on-premise – Demand for individually-wrapped cutlery, straws, stirrers and other disposables that limit the potential for spread of contaminants is rapidly increasing and expected to endure, post-pandemic – Vaccine inoculation teams are expected to drive significant incremental demand for disposable gloves ▪ Emerging Concepts in Away-from-Home Dining are Here to Stay − “Ghost Kitchens” single-company, mass-production sites that make and market meals for on-line home delivery customers under multiple brand names − Return of the walk-up takeout window for pickup and delivery service – no seating, minimal footprint, low rental expense
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