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COVID-19 The Black Swan has been ravaging China for nearly three months, leaving businesses in the restaurant, tourism and other industries facing a major test of survival and even destruction.
According to the Chinese Cuisine Association, due to the epidemic caused serious losses in the catering industry during the Spring Festival, the New Year's Eve meal retreat reached 94% to 100%, while the flow of restaurant hall diners fell 80% and above. According to the 2019 National Bureau of Statistics published catering revenue of about $600 billion, the Spring Festival contribution to the annual catering industry revenue ratio of 15.5% projection, is expected to Spring Festival 7 days, 2020 catering industry conservatively expected to lose $35.4 billion.
How is the Restaurant Industry Recovering from the Status quo in the Post-Epidemic Era in China?
In the wake of the epidemic, long suppressed consumer desires spurred consumers to eat out. “Physical store + Online Order” became the new consumers pattern. The arrival of this model, bring more thinking to the upstream and downstream enterprises, especially the construction of the supply chain, the supply chain has become a strong guarantee for the catering enterprises.
Yet the data shows that at least 60% of companies will face a crisis. This was due to the suspension of all orders and trading during the epidemic, and competitors’ rainy day layouts caused other companies to lose much of their market share after the epidemic recoveredHow the Chinese Restaurant Industry has changed in the Post-Epidemic Era?
1. Mobile Caravans (Food Car)
2. Transformation, on-line and off-line, coexisting, integrated development
3. The explosive growth of the takeaway economy
4. In the future, consumers will have higher demands for food safety, environmental hygiene, quality services and brand awareness. Complete supply chain system, strong brand effect, catering enterprises are expected to enjoy a certain brand valuation premium after the outbreak.
