Restaurants Enjoy Start of Post-Reopening Boom

Food is serious business. Now, on The Main Course, host Barbara Castiglia will invite insiders on the front lines of food to share their expertise, strategies, and forecasts for navigating the ever-changing restaurant industry.

 

The Main Course always has a pulse on what’s next for the restaurant industry. For a look at the restaurant industry outlook for 2021, host Barbara Castiglia spoke with Cristin O’Hara, Managing Director, Restaurant Group, at Bank of America.

“The second half of the year could see strong GDP growth, as people become more comfortable with returning to restaurants and the takeout business continues to soar” – Cristin O’Hara

O’Hara started with some good news. “There is enthusiasm and positivity that the industry is turning the corner. The second half of the year could see strong GDP growth, as people become more comfortable with returning to restaurants and the takeout business continues to soar.”

Some of that bounce back is already evident. “In some cases, same-store sales and margins are very good. Events are happening this year that didn’t last year, which makes people want to celebrate and order food,” O’Hara said.

Looking at trends and what may stay around post-pandemic, O’Hara spoke about technology’s role in delivering convenience to the diner. It also provides intelligence to restaurants, which allows them to be smarter in decision-making.

While QSRs have grown, primarily due to drive-thrus, and fast casuals are coming back, O’Hara believes fine dining will be the last to emerge from the pandemic. “They depend on business travel and entertainment, which isn’t coming back yet,” she added.

Overall, she thinks the demand for dining out will grow as it becomes safer. The key for all restaurants will be getting throughput to align with demand, managing labor needs, and being prepared for changes in pricing in costs of goods. “Digitization has a lot to do with the management of these categories.”

A New Episode is Served Up Every Tuesday and Thursday!

Follow us on social media for the latest updates in B2B!

Twitter – @MarketScale
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale

Follow us on social media for the latest updates in B2B!

Latest

NAB Pulls the Plug on This Year’s Show, Attendees Have Mixed Reactions
September 17, 2021
The Pro AV world was taken by surprise with the cancellation of NAB this October with concerns around COVID's persistent waves and the financial viability of still holding the show. The organization did make sure Read more
What is Pushing Modular Buildings Practices Through the Roof?
September 17, 2021
 Modular construction has grown tremendously in the past few years, leading many to believe it's a new innovation in the building industry. In reality, it has been around for quite awhile, but has Read more
The Experience Evolution: Prep the Halls—2021 Holiday Shopping Trends and Tips
September 17, 2021
   Did the pandemic rewrite the rules for the holiday shopping season? Is there even a rulebook anymore? As consumers look to engage with their favorite brands across all channels this upcoming Read more