SINGAPORE/TOKYO/PARIS - Global demand for premium foods like wagyu beef, bluefin tuna and caviar has plunged with thousands of restaurants shuttered and many economies sliding into recession amid the coronavirus pandemic.
Jean-Marie Barillere, co-chairman of champagne producers' lobby CIVC in France, said he hoped people would celebrate the easing of lockdown with a bottle of champagne, but expected a difficult end to the year.Bookings data compiled by OpenTable, an online restaurant reservation service, showed a near 80% year-on-year decline in seated diners at restaurants in the United States, United Kingdom, Germany, Canada, Australia, Ireland and Mexico this year.
Russia's top sturgeon breeding company - Russian Caviar House - meanwhile was offering a 30% discount for Beluga hybrid caviar. Oyster and razor clam fishermen from Cape Cod and other top fishing grounds have also had to curb catches as lockdowns upended global eating habits.To plug the yawning gap left by eateries, many high-end food producers are attempting to reach consumers directly via e-commerce platforms.
Better strategy for luxuryfood suppliers is to repackage in small quanties and sell at discounted lower prices during this period. Works both way in winning customers, keeping existing food lovers happy and make the once unaffordable food - affordable. Aftr the upturn, $$ no?
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Source: The Straits Times - 🏆 8. / 63 Read more »