How the pandemic has transformed Food Services & Food Retail

Panasonic Canada conducted a study about the covid pandemic about five months into the pandemic. It shows a significant change in attitudes toward transformative technologies.  The pandemic brought to the rise of agility, innovation, and technology. Businesses are feeling an urgent need to adapt to changing customer behavior and demands rapidly. According to the survey, the pandemic forced many behaviors to shifts, and most will last at least for the next 12 months or more. Transformative technology – from process automation to contactless solutions to personalization – allows them to be more agile, innovative, and responsive to new consumer behaviors. The pandemic caused a seismic impact on restaurants and food services as the vast majority encountered a significant drop in revenues. Almost 2 in 3 restaurants saw revenue decline 10%–30%. Another 1 in 5 saw a drop of 30%–50%. Both grocers/retailers and restaurants see at least a moderate risk of having to close locations – or even go out of business. Over half of survey respondents said they’re likely to transform their business model in four key areas:
1. In-house, last-mile delivery – providing the ability to offer delivery without depending on a third-party.
2. Dedicated pickup solutions – including food lockers and sites for contactless customer pickup.
3. Drive-thru only stores – many had such services and would like to extend them.
4. Self-service-only stores – prioritizing mobile orders and interactive kiosks. @ https://panasonic.ca/brochures/en/hospitality-retail/qsr/PNA%20Food%20Services%20&%20Food%20Retail%20Report-EN.pdf