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Jul 25, 2021
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'COVID-19 has changed the way people work, the way they shop, and even how they eat. Overall, these shifting patterns have proven harmful to the food and beverage sector, according to a new survey. iCHEF, a Taiwan company that produces analytical reports, has released a national survey that shows profits plunging across the sector due to social distancing and virus fears. But the pandemic is also spurring innovation, as restaurants seek out fresh ways to make money. Flatten the dough, then toss on toppings like tomato, garlic, onions, and squid. Pop it in the oven, and before you know it, this pizza is ready for delivery. This is a beloved pizza joint in Taipei City. Despite the pandemic, they’ve seen their revenue soar 40% over Mother’s Day weekend compared to the same period last year. That growth is mainly driven by its takeout and delivery business. Chiu Po-min Pizza chain representative During this period, our takeout orders have grown significantly. Like many restaurants in these coronavirus times, the pizza shop has had to adapt to changes in consumer patterns. It’s launched personal pan pizzas perfect for the lone diner who’s doing social distancing. It’s unveiled DIY pizza kits for families who longer feel comfortable dining in. Chiu Po-min Pizza chain representative We rolled out exclusive promotions targeted to our various delivery platforms. The number of orders has increased by nearly three times. Our total revenue has not fallen, but has instead grown. But most restaurants haven’t fared so well. A recent survey conducted by iChef finds that the pandemic has been terrible for business in the food and beverage sector. During the 228 Peace Memorial Day holiday, total revenue fell 13% compared to the same period last year. Business slowed even more in early April during Tomb-Sweeping Festival, sending revenue down 23% year-on-year. That’s worse than the worst loss seen during the 2003 SARS crisis. Ken Chen iChef cofounder SARS period during the down time, actually it lowered to about 18% of YoY downward in May of 2003. Starting from after election, Taiwan F&B market was hit hard by COVID-19. That even goes as down as to more than 20% during the Qingming holiday. According to the survey, about 20% of businesses are still posting growth despite the pandemic. Ken Chen, the cofounder of iChef, says businesses that do the best tend to be the ones trying new things. Ken Chen iChef cofounder It’s a very challenging time for all restaurants. We see that about more than 20% of restaurants still have wide growth during these difficult times. For people who have growth, it’s not because they offer better prices or work on certain platforms. It\'\'s because they manage different types of platforms. They do dining, they do pick-up, they do delivery. They offer customers across all approaches. As the epidemic subsides, more businesses in the sector are expected to bounce back. Over Mother’s Day weekend on May 9-10, revenue rose 1.4% year-on-year in a remarkable turnaround. Chen believes that more recovery is on the horizon. Ken Chen iChef cofounder What is outstanding about Taiwan is that we want to keep the normal. Every shop is still opening. This survey was based on a sample of 1,262 stores and more than 68 million transactions. The survey focused on holiday revenue in the first half of the year and how it was affected by COVID-19.'
Tags: English news , 民視 , 民視新聞 , 英語新聞 , Formosa News
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