Almost half of UK hospitality businesses that are currently operating estimate that they have lost 21-30% of their income over the course of the pandemic.
A new survey into London’s restaurants, cafes and takeaways has found that almost half of businesses that are currently operating estimate that they have lost 21-30% of their income over the course of the pandemic. Another third (32%) estimate that they have lost 11-20% of their revenue. That’s huge.
Commissioned by Too Good To Go, the surplus food app, the survey has also revealed what areas businesses have been investing in over the course of the last year to shore up their businesses over the course of the pandemic.
- One third (33%) have enabled takeaways/deliveries
- Almost one third (31%) have created a new website
- Over a quarter (26%) have invested in contactless ordering (e.g. via apps)
- Over a third (37%) have created meal kits
- Almost a quarter (23%) have revamped or increased their outdoor space
- 30% have revamped their indoor space
- 30% have introduced new marketing channels such as social media or ordering apps
- Almost a quarter 24% have revamped their website and made it more commercially viable
While almost a third (30%) of business now have more robust plans in place to deal with unpredictability in the future, over a quarter (27%) of London restaurants, cafes and takeaways think the short-term future unpredictability will result in more food waste for their business.
A third (33%) of businesses also fear that the unpredictability of the next 12 months will lead to the need to reduce the number of people they employ, while over a third (26%) worry that the upcoming unpredictability will cost them their whole business.
Paschalis Loucaides, UK Managing Director, Too Good To Go, said: “The pandemic has certainly had an almost irreparable impact on London’s hospitality scene. Looking forward, it is important that businesses safeguard the investments that they have put in place throughout the pandemic.
“One way to do this is to maximise resources and reduce food waste so it is concerning that over a quarter of businesses think the next 12 months will result in more food waste for their business. It is critical that we do everything that we can to ensure this prediction doesn’t become reality and that instead pave the way for a brighter, greener, future.”