LONDON--(BUSINESS WIRE)--Infiniti Research, a leading market intelligence solutions provider, has recently announced the completion of its latest article on how food service companies can survive the Covid-19 crisis.
“With major countries having declared a state of emergency, closure of non-essential businesses, and social distancing, restaurants sales are down by around 80%,” says a market research analyst at Infiniti Research.
The unpredictable nature of the coronavirus outbreak is impacting the restaurants and food services companies in various ways. While some restaurants have already chosen to provide meals via takeout and delivery options, others are still struggling to enhance business continuity. Besides, as customers are more budget-conscious these days, major restaurants are in the need to find new ways to enhance profits, prepare for potential challenges, and conduct global scenario planning. Besides, food service companies are in the need to scale up the menu and look for new ways to reduce operating costs.
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Strategies for Food Service Companies to Navigate the Covid-19 Crisis
Prioritize employee health and wellness
With the coronavirus outbreak, food service companies are facing a shortage of employees to run operations smoothly. To tackle this challenge, some restaurants have adopted measures such as emphasizing workplace hygiene and installing hand sanitizing stations. However, other than these measures, food service companies will need to implement an employee assistance program and offer paid sick leaves to build the trust of employees and ensure their safety.
Reassure customers
As revenues take a huge dip during this period, customers are now looking for budget-friendly meals. As such, food service companies must analyze customers’ needs and scale up their menu accordingly. Also, food service companies must efficiently communicate with their customers regarding changes they may be making, share sanitization procedures, and encourage support.
Focus on premium deliveries
As millennials and Gen Z customers are showing preferences for budget-friendly meals, but also for enhanced experiences in delivered food, the trend for chef-led delivery brands is expected to pick up over the coming weeks. As such, food services companies must keep pace with market trends and change their strategies accordingly.
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About Infiniti Research
Established in 2003, Infiniti Research, is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
