Cast your mind back a few months and the state of the global hospitality market right now seems unthinkable. So as we emerge from a summer like no other, here are the numbers and knowhow you need to manage your hospitality business right now.
There is cause for optimism
That’s probably not a statement you hear very often, but it’s true.
Even amidst the advice and uncertainty, there are still ways to adapt and optimize your business. That’s why we brought a panel of industry experts together in a webinar series exclusively for hospitality businesses to dive into the data, share their unique insights and help you manage your business right now.
Did you miss the last instalment and the tips you need to future-proof your business? Here’s what you need to know.
Let’s start with the data
Teaming up with our powerful restaurant analytics partner Tenzo, the starting point is a picture of how hospitality businesses are performing right now and the lessons from markets such as Asia that have been open for longer.
Christian said that while some restaurants stayed open throughout the lockdown as delivery-only, the gradual reopening – an increase of more than two-and-a-half times – shows businesses are getting more confident about the consumer spending after lockdown.
“That jumped in the week of 29 June, where the Saturday was 4 July and many businesses reopened again. In that week the stats jumped from a 42% restaurant open rate to 63% as businesses started to reopen their doors for the first time since the UK’s lockdown.” – Christian says.
At the start of August, around 70% of restaurants were open again, which Christian says follows the trajectory of the similar sample of restaurants in Asia that Tenzo track.
In the same timeframe, the tracking of like-for-like sales data compared to last year also continues to track in the right direction, with the average among Tenzo’s sample at around -12% at the start of August, compared to an initial drop of -69% in the March lockdown.
Tenzo’s analysis also found that the combined assistance of increased consumer demand and the August Eat Out To Help Out initiative increased by 10% the number of open restaurants on 3 August compared with 27 July in its UK sample.
- Learning lessons from abroad
As a global restaurant analytics tool, Tenzo brings data from across markets that give businesses like yours an insight into the trends and learnings from places that have had restaurants, bars, cafes and hotels open for longer.
Using the data from restaurants in China, Singapore and other parts of Asia, Christian says there are four key learnings for your business.
- Delivery is still seeing the most sales
As with the initial data from lockdown, a change to delivery-first practices is seeing the most sales in Asian restaurants now.
Christian says that given restrictions and advice can often change rapidly, many businesses determine that dine-in experiences will be the first to close under updated advice. As a result, smart businesses are investing in reliable delivery services to continue to cater to the new way many consumers are dining.
- Re-think your practices to avoid upheaval
With the fast-pace of change, hospitality staff scheduling, communication and management is vital as your operations adapt overnight. Even as operators throughout the other markets Tenzo have been open for longer, the ever-present threat of localized lockdowns and staff exposure to COVID through things like public transport remains a risk.
Christian says the smart thing to do is split your team in two teams. This minimizes the likely spread between your team members and allows you to continue operating in the event one of your staff needs to isolate or quarantine.
For more on how the big restaurant chains are preparing to change the way their teams work, read our recent blog here.
- Don’t be afraid to bring in new tech
Much of the reluctance businesses and consumers have about technology and digital tools has been reduced or removed by COVID-19.
Just as consumers have taken to delivery and e-commerce solutions like never before, so too has the willingness of your staff and customers to embrace new tech in person. This will create a safer experience for you, your staff and your customers and is fast becoming an expectation of discerning consumers going forward.
For more on how digital tools can help your hospitality staff management right now, check out our dedicated resources page with practical tips and tricks.
- Think about every contact point
The businesses which have made reopening a success – according to Tenzo’s analysis – are those which have mapped out the customer journey to ensure safety and communicate how businesses practices have evolved with customer expectations.
Consider how to best use communications tools to inform your customers about these changes, improve the customer experience and give people confidence that their experience in your hospitality business will be safe and memorable.
Focus on what really matters
Forbes ran the numbers recently and it’s clear: people miss dining out. More than they do the gym or the hairdresser or the office.
That means there is tremendous opportunity for hospitality businesses to re-open and re-start with the confidence you need to make a success of the second half of 2020.
Have you got the results of our exclusive hospitality salary survey?
To reach your goals you need quality staff. Get the exclusive salary data you need to keep them longer by downloading the results of our recent survey of more than 1,800 UK hospitality staff.