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Technomic: Foodservice Growth Projected to Decline 11-27% in 2020 Due to Coronavirus
COVID-19 continues to disrupt the entire foodservice industry and will only continue to have significant consequences. Using our current understanding of the crisis, we modeled out numerous scenarios to understand the scope of its impact. Presently, the expected foodservice impact ranges from a decline of 11% to 27% in year-over-year growth for 2020.
But while most of the changes seem grim, there are also signs of hope, specifically from the operators who are adapting their service model in response to the new environment.
It’s no surprise that travel and leisure will take the biggest hit. The business and industry sector is being severely impacted by office closures and...
Coronavirus to Impact Eating Behaviors Across Multiple Sectors
According to recent research from Datassential, the coronavirus will impact consumers' eating behaviors across multiple sectors. While it is impossible to predict precisely how the virus will spread, insights can be shared as to how consumers will react.
Restaurants are vulnerable to dramatic traffic declines. Coronavirus has led to nearly 60% of consumers expressing concern about eating out, with one in five "definitely" avoiding doing so. The fear is most significant among parents, urban dwellers, and higher earners. Datassential predicts that if the situation worsens, family dining and kids meals will be the most impacted, particularly for restaurant brands located in city centers. About 20% of those surveyed would...
Restaurants Limit Business to Prevent Spread of Coronavirus
Due to the spread of the coronavirus in the United States, restaurants and bars are closing or limiting business to prevent further contamination. Governors in states including California, Ohio, Illinois, Massachusetts, and Washington have closed restaurants, bars, and wineries. Meanwhile, mayors of major cities throughout the country have ordered similar restrictions. These decisions come amid growing pressure for state and city governments to act as the number of coronavirus cases in the United States is rising. At the time of this publication, there are over 3,800 cases throughout the country.
Several restaurant chains announced that they will be closing their dining rooms, switching to take out or delivery models until further notice. Chick-fil-A announced...
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