Introduction
The restaurant industry has been one of the hardest hit by the pandemic, with many restaurants closing their doors for good. As the pandemic continues to affect the economy, some restaurant chains are struggling more than others. In this article, experts weigh in on which restaurant chains are likely to struggle the most in 2021. We’ll look at the factors that are contributing to their struggles, as well as what the future may hold for these restaurant chains.
These Restaurant Chains Will Struggle the Most in 2021, Experts Say
The restaurant industry has been hit hard by the pandemic, and 2021 is likely to bring more of the same. Many restaurant chains have already closed locations, laid off staff, and implemented cost-cutting measures. But some chains are likely to struggle more than others in the coming year, according to experts.
One of the biggest challenges facing restaurants in 2021 is the continued uncertainty surrounding the pandemic. With the virus still spreading and no clear end in sight, many restaurants are struggling to stay afloat. This is especially true for chains that rely heavily on dine-in customers, as many states have implemented restrictions on indoor dining.
Fast-food chains are likely to fare better than other types of restaurants in 2021. These chains have been able to adapt to the pandemic by offering drive-thru and delivery options. However, even fast-food chains are not immune to the effects of the pandemic, as many have had to close locations and lay off staff.
Casual dining chains are likely to struggle the most in 2021. These restaurants rely heavily on dine-in customers, and many have been unable to adapt to the pandemic. Many casual dining chains have already closed locations and laid off staff, and more closures are likely in the coming year.
Fine dining restaurants are also likely to struggle in 2021. These restaurants rely heavily on dine-in customers and have been unable to adapt to the pandemic. Many fine dining restaurants have already closed locations and laid off staff, and more closures are likely in the coming year.
The restaurant industry is facing an uncertain future in 2021. Many chains are likely to struggle, especially those that rely heavily on dine-in customers. Fast-food chains may fare better than other types of restaurants, but even they are not immune to the effects of the pandemic. Casual dining and fine dining restaurants are likely to struggle the most in 2021.
The initiation of vaccination packages throughout the nation could have given People a brand new sense of hope for 2021, however there may be nonetheless no particular finish in sight to the continuing coronavirus pandemic. This places the meals service business into an more and more determined place, as restoration in that sector depends upon states opening again up and permitting for denser foot visitors.
The extent of losses throughout the restaurant business was demonstrated in a Dec. 2020 survey performed by the Nationwide Restaurant Affiliation. It reported that 17% of all eating places in America had both shut down completely or have been briefly shut down for an unknown size of time over the course of final yr. A whopping 87% of remaining eating places had reported a mean decline in income of 36% throughout the identical interval. (Associated: The Saddest Restaurant Closures In Your State.)
Now, specialists are predicting that one specific meals service phase may have a slower street to restoration than the remaining: espresso chains. Bloomberg has reported that the home espresso phase noticed a 25% drop in gross sales, representing an $11.5 billion loss for the US espresso chains. And the drop in foot visitors has affected each nationwide mega-chains like Starbucks and Dunkin’ and smaller regional chains like Bluestone Lane.
Business specialists predict it can take years for espresso chains to get again on their ft, with gross sales not anticipated to be again to pre-pandemic ranges till 2023.
There are glimmers of hope, nonetheless: on the time of this writing, the Starbucks inventory is buying and selling barely larger than within the weeks main as much as the dramatic plunge in March of 2020, because the scope of the coronavirus pandemic grew to become clear.
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