The HoReCa sector has seen huge shifts to its business because of coronavirus as lockdowns globally dramatically reduced demand in out-of-home (OOH) occasions.
Prior to coronavirus OOH channels accounted for 33% of all food and beverage sales in the most affluent markets.
The impact of lockdown on OOH’s volume share was immediate, with occasions also seeing a dramatic change. Ipsos data shows that, in the second half of March, consumers shifted the majority of alcohol consumption to previously untypical occasions: My Home +35% (vs. Restaurant -75%), Alone +32% (vs. Groups 5+ -43%), Watching TV (Non-Sports) +53% (vs. Party -67%).
The challenge now is that as consumers are unlikely to go back to pre-outbreak levels of HoReCa spending, we see the rise of new trends, such as the emergence of the “home chef”, and may wonder how do brands respond to this.
In this paper we look at what the future may look like for HoReCa and the opportunities this may offer.
KEYS: STANDING OUT FROM THE CROWD, Making Your Mark in the Moments That Matter [Webinar recording]
This session sees us explore how we can cut through the noise and ensure the product, service or experience we are offering stands out at those moments that really matter. Our experts will be sharing our latest analysis of how consumers react in different contexts - and reflecting on the implications.