Lessons Learnt by The Hospitality Industry in 2020
January 7, 2021
Article Overview10min read
2020 was a year full of unexpected challenges that impacted the hospitality industry to a great extent. With new guidelines, expectations, and even policies set in place, restaurants around the world have been expected to quickly adapt to changes in order to stay ahead in the game.
That being said, the last year has given restaurant owners plenty of important lessons worth reminiscing about and implementing once again in the future. Here’s a quick look at the top lessons learned in 2020 for the restaurant industry.
Delivery and Takeout Is Here To Stay
In 2020, restaurants have largely been able to only make profits via delivery and takeout, given the fears that the public harbors for the pandemic. This is hardly expected to change in the future as precautionary methods and procedures are expected to be implemented until a vaccine effectively prevents any more outbreaks. With the public still hesitant to dine-in, it may be in the restaurant’s benefit if they were to continue offering options beyond just dining.
The Eatertainment Industry Will Need Time To Recover
There is no doubt that the eatertainment is in for a hard time for the next couple of years. The inherent need to have fun and socialize is in complete conflict with the fear of contracting the COVID-19 virus. Residual fears from the virus will cause people to refrain from attending events and restaurant advisors expect this to affect the eatertainment industry too.
As rules like social distancing continue to be a mainstay, it is important that establishments in this category look to evolve and adapt their business to ways that can satisfy their customer’s fears while ensuring that they stay relevant and safe in case of another lockdown.
Alternatives To The Traditional Restaurant
As the pandemic affected restaurant revenue streams from across the world, restaurateurs have been quite innovative in cutting down costs. In doing so, plenty has come to realize interesting alternatives to the traditional restaurant, especially since dining-in is out of the question for the foreseeable future.
Some new concepts include virtual kitchens where a restaurant offers only takeout and delivery, thus saving on restaurant interior design concepts and leasing while other owners are opting for pop-up restaurants.
The COVID-19 crisis has highlighted the incredible resourcefulness and resilience of the food industry. Entrepreneurs from across the world have adapted with astonishing speed and understanding and have begun adjusting to the new world of requirements with optimism. By adopting the extraordinary lessons learned in this pandemic, owners can evolve and finetune their business plans and strategies better to gain optimal results in 2021.