Foodservice industry adopts new business strategies

With the pandemic continuing to affect the F&B industry in the Asian region, foodservice operators are radically changing their business models to cope with the disruption caused by COVID-19. Mintel analysts revealed to Tasty Asia that with consumers avoiding eating out in restaurants, new models have now emerged to connect foodservice providers with customers. Such models open up new possibilities for foodservice operators to expand their revenue stream in the post-pandemic world, the analysts said.
Mintel highlighted four practical foodservice solutions used by F&B operators around the region to cope with the downturn caused by COVID-19.
1. Home delivery - Restaurants are shifting to home delivery.
2. Frozen meal - Foodservice brands are selling frozen ready-meals to eat throughout the week. A good example is Philippines' fast-food chain Jollibee has made available the brand's signature ‘Chickenjoy’ dish as a frozen product at select supermarkets. The frozen Chickenjoy and other ready-to-cook items for takeout or drive-thru are also available at selected Jollibee outlets.
3. DIY - Consumers can now recreate their favourite food service menu at home. In Malaysia, the country's largest bubble milk tea chain has made available DIY Milk Tea Kit, which can produce 20-25 servings at home, said Mintel.
4. Pre-purchase - Foodservice operators are selling gift vouchers to use when the situation improves. The gift voucher is especially crucial for premises forced to shut down, including bars. Examples include Teens of Thailand, an art-oriented, gin-focused bar pops, and Fave, a platform for restaurant deals and more from Malaysia.
Despite food delivery as the obvious choice to stay in business, foodservice brands need to find access to consumers dining table via online channels, Mintel said. As consumers are not able to visit restaurants, their dining needs shifted to online channels. Foodservice brands need to leverage their existing brand assets and march into online territory with packaged food and drink or even spin-off products. (Image from Pixabay)