UBS: Restaurant sales to plummet after pandemic, grocery benefits - Business Insider

While UBS estimates a 40% loss of revenue for food services, grocery stores could recoup 10% of those losses.The restaurant industry is expected to lose 20 years of revenue gains as a result of the coronavirus pandemic, according to a new UBS report

Focusing early on e-commerce, alternative revenue streams, and differentiated offerings will allow grocers to preserve or even expand their market share over the long run.The restaurant industry has slowly been making headway over the grocery sector for the last 20 years. There are two likely factors for a structural shift away from foodservice consumption. The first is that consumers are expected to be more price-sensitive as the likelihood of a recession continues to weigh on purchasing decisions. Personal savings rates spiked during previous economic crises, showing that consumers often choose to save their money during periods of economic uncertainty.

"We believe that food and beverages at home could recoup around 10% of that reduced spend," the report reads. However, grocery stores must take action to snap up that 10% gain.

I think UBS under estimates how much people really hate this quarantine. I'm going to an Olive Garden first chance I get

Everyone seems to have a clear idea of how other people should lead their lives, but none about his or her own. - Paulo Coelho

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The world's wealthiest are sticking with stocks despite the coronavirus crisis, UBS findsAlmost half of the world's wealthy investors and business owners expect to maintain their stock portfolio at the same level for the next six months, according to a study by UBS. Why wouldn't they? 🤷‍♂️🤣 The market can remain irrational longer than you can remain solvent
Source: CNBC - 🏆 12. / 72 Read more »

How coronavirus is changing influencer marketing, creator industry - Business InsiderBusiness Insider spoke to influencer-marketing professionals across the industry to learn how they're adjusting during the coronavirus pandemic. This year I only want to be around the people that love me, not the people that pretend they do. Those who are infected with coronavirus, please inbox me. I need to know something about you.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Waffle House opens, Chick-fil-A stays closed as Georgia reopens - Business InsiderWhile the majority of Chick-fil-A's business is through the drive-thru, Waffle House's sales dropping by 70% during the coronavirus pandemic.
Source: BusinessInsider - 🏆 729. / 51 Read more »