May 6, 2021

Zambia Business Times

Your Financial News

72% Of Consumers Have Cut Spending On Bars And Restaurants

3 min read

72% of consumers acknowledge that they spend less than before the pandemic in bars and restaurants . The Aecoc Shopperview report on the transfer of food consumption from outside to inside homes due to the coronavirus crisis, which was presented at the 18th Aecoc Horeca Congress .

Specifically, the study also shows that 29% visit bars and restaurants at least once a week, a percentage 36 points below that recorded before the start of the pandemic.

The report also points out that dinners and lunchtime menus are the most affected areas of consumption in restaurants. Thus, two out of three respondents never or almost never go out to dinner, which represents 20% fewer consumers than before the pandemic, while the number of citizens who go to bars and restaurants has fallen by 13%. noon at least once a week.

The coronavirus crisis has caused the frequency of consumption of food at home to grow. Eight out of ten respondents say that they cook at noon every or almost every day, while 40% say that they have increased their spending on products to cook at home.

This transfer of consumption to the home has also made product categories grow, such as supermarket ready meals. Currently, 43% of consumers opt for this option at least once a week and 13% have increased their spending on ready-to-eat dishes. In the case of ‘delivery’, 30% of consumers order food at home at least once a week and 24% acknowledge that they have increased their spending on this service.

“The restrictions linked to the pandemic, together with savings and the fear of contagion, have meant that we have more home consumers and that their habits have changed, which has generated new needs to which solutions such as ready meals and ‘ delivery ‘”, explained the manager of the commercial strategy and marketing area of ​​Aecoc, Rosario Pedrosa.

Effects of ‘delivery’ on accounts
On the other hand, the congress presented the first results of the research that Aecoc and Thinknovate, the ‘spin off’ of elBullifoundation, are carrying out applying the Sapiens methodology to analyze the keys to home delivery services in its different modalities and what impact they have on the profitability of bars and restaurants.

“The coronavirus has made ‘delivery’ a necessity for many bars and restaurants that, due to restrictions, did not have their main source of income. Once the pandemic passes, the first objective of most of these businesses will be to fill their rooms, so they will have to analyze how to fit the ‘delivery’ into their business strategy so that it is sustainable and profitable “, explained the person in charge of the Horeca area of ​​Aecoc, Patricia Fernandez.

The preliminary results of this research show how the costs derived from home delivery are affecting business accounting. In fact, the report indicates that the profitability of a fully operational standard restaurant goes from 19.4% without home delivery to 13.5% when the service is introduced.

However, for restaurants with the resources to offer it, the ‘delivery’ becomes a means of additional income that allows them to optimize resources and complete their billing. Research is advancing on what is the ideal balance for average independent restaurants in which dining room and delivery services coexist. Thus, according to the simulation proposed, once 25% of home delivery orders are exceeded,

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