Commentary
A brighter year beckons for the F&B industry
Growing acceptance of food delivery and tech, spending on dining instead of travel, and a focus on hawker culture could make 2021 better
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Given that typically, about 25 per cent of revenue for food and beverage businesses comes from visitors, border restrictions have essentially eliminated that possible revenue. But as people cannot travel owing to Covid-19 restrictions, many residents here have additional disposable income to spend, and some are using it by going out for dinner more frequently, says the writer.
ST PHOTO: JOEL CHAN
Sherri Kimes For The Straits Times
To say that 2020 was challenging for the food and beverage (F&B) sector is an understatement, with sales dropping by over 50 per cent during the circuit breaker period from April 7 to June 1.
The combination of closed borders and the ban on dine-in business was extremely difficult for industry players.