Updated: Mar 1, 2021
No industry has been thrown off balance by the coronavirus pandemic like the restaurant industry. With every major effort to adapt to the current situation, the spike in active cases keeps throwing curveballs their way. From operational limitations to closures and everything in between, restaurateurs have had to ride this rollercoaster patiently for quite some time now.
With the constant addition and change in protocols, almost 60% of new restaurants didn’t make it through their first year of operation. However, the restaurant industry has always been evolving. With some essential changes in business tactics and a whole lot of love and support from their patrons, the restaurant culture is making a comeback.
With the rollout of the vaccine, 2021 has already started to see noticeable growth and progress in the industry. According to Zacks, the Restaurant industry, for one has exceeded the S&P 500 index of 20.6% over the last 6 months and is leading with 24.5%
The Cracker Barrel Old Country franchise, Jack in the Box Inc,(JACK) and Yum China Holdings Inc (YUMC) are some of the fastest-growing restaurant stocks despite the pandemic. The fast-casual restaurant chain Chipotle Mexican Grill (CMG) reported a tripling of their sales in the recent quarter with corporations like Wingstop (WING) Inc and Shake Shack Inc (SHAK), following suit.
The addition of a simple service like a drive-through window saw a hike of almost 90% in McDonald's sales over the last quarter.
Many factors can influence restaurant profits. Some of the more obvious ones are the demand for selective cuisines, effective marketing techniques, and endorsements, etc. However, one factor that is often taken for granted is the ambiance and feel of the restaurant itself. High-quality customized furniture has an indirect effect on sales. And with restaurants undergoing a revamp to bring back their patrons while keeping up with the mercurial nature of social distancing protocols, the flow of capital is now shifting to the furniture and decor industry.
First impressions are last impressions. The furnishing of a restaurant is a reflection of its worth. If you put together a visual theme for your restaurant that looks like a million bucks, it is sure to feel like it too. Just like the addition of couches suggests a more relaxed tone, the elements you add to your interiors can impact the experience you seek to curate.
Studies suggest that the ambiance of a restaurant can influence the pace at which customers eat, their spending habits, their interactions, and most importantly, the question of their return to the same restaurant. It is common knowledge that people eat with their eyes first. Likewise, in a world where looks are everything, your primary focus must be enhancing the experience of your diners.
When the vibe of a restaurant is curated with the specific trends and likings of patrons in mind, it is naturally likely to attract more customers. Quality resources make for a quality establishment. With Avina Seating and Custom Furniture, you are sure to have an unmatched experience with unbeatable top-notch products and seamless service. Why put yourself through any trouble at all, when you can have the experts do it for you?
Today, more than ever, restaurants have the opportunity to curate an experience like no other to evolve and scale in what is now known as the new normal; the ones with vision and foresight are already on the job.