COVID-19 has not only been a devastating public-health crisis, it has also been the restaurant industry’s greatest challenge to date. Never before have so many restaurants been forced to cease operations; some will never reopen. McKinsey estimates that, of the 650,000-plus US restaurant locations that were in business in 2019, approximately one in five—or more than 130,000—will be permanently shuttered by next year.
McKinsey lays out potential timelines for the US restaurant industry’s recovery and actions that restaurants should take to cater to consumers’ new dining needs and preferences.
In the recovery period, top priorities include:
- Update operating procedures
- Reactivate customers using a segmented approach
- Adjust menu to new consumer preferences
- Optimize delivery capabilities
Instead of simply reverting to business as usual, seize the opportunity to innovate in the next normal, thus shaping not just your own company’s future but that of the industry as well:
- Rethink restaurant design
- Reinvent the menu
- Optimize your footprint
- Digitize customer engagement
Read more at McKinsey.