The food and beverage industry tries to find opportunities after the epidemic

As of May, the Cua King restaurant system has only recovered 70% of sales compared to before the epidemic. However, Doan Thi Anh Thu, CEO of the chain, expects sales to fully recover and grow from the end of the second quarter.

Putting faith in the market prospects, the chain recently announced its ambition to open 50 stores, including franchises, this year and increase to 200 next year. Currently, they have 5 restaurants and 3 franchised stores, but they have just been invested for the second time by “Shark” Do Thi Kim Lien.

Not only this chain, many small and large catering businesses have begun to signal their efforts to attract customers after two dismal epidemic years. In the fine dining segment, large hotel chains jointly organize to warm up their names in May.

Accordingly, during the two months of May – June, more than 20 restaurants belonging to Marriott Bonvoy hotels and resorts in Vietnam simultaneously organized a culinary discovery program with preferential service packages.

At Li Bai restaurant in Sheraton Saigon, to celebrate the upcoming Lunar New Year, they launch high-class buns with prices ranging from VND 140,000 to VND 390,000, meeting the needs of diners who spend time together. spending compression.

In New World Saigon, Black Vinegar restaurant, which specializes in Cantonese cuisine, was also reopened after about two years of temporary closure. At the shopping district near Takashimaya and Saigon Square (District 1, Ho Chi Minh City), Le Nguyen Minh Man, the owner of a Hong Kong Hot Pot restaurant, also saw the new vitality of the F&B industry.

“From the beginning of the year until now, the F&B market has blossomed after a long period of hibernation. The number of visitors and purchasing power are also very strong, showing that the industry is reviving,” Man said. Along with his existing restaurant, he recently opened a franchise of deep-fried mushrooms.

According to a survey by Vietnam Report, up to 91% of F&B businesses reported being severely affected in the two years of the 2020-2021 epidemic. It was not until the first quarter of 2022 that this field prospered. According to the General Statistics Office, revenue from the catering and accommodation services sector in the first quarter of 2022 reached VND 124,400 billion, a slight increase of 1.2% compared to the first quarter of 2021. However, compared to before the epidemic, that is, in the first quarter of 2019, it is still 1.79% lower.

On the Payoo payment platform, by the end of the first quarter of 2022, the revenue of the F&B industry has also increased by one and a half times compared to the fourth quarter of 2021. Total transaction volume increased 24% compared to the previous quarter. The representative of this platform predicts that the growth of this industry in the second quarter will be even higher thanks to two reasons. The first is that the epidemic has been successfully controlled, so people’s psychology is stable and they are more willing to eat out. Secondly, the tourism industry has begun to record many positive signals.

The long-term outlook for the whole year is also good. VNDirect believes that the industry will recover and have a higher growth rate from 2022, from 10-12% over the same period, with the main driving force coming from the re-opening of dine-in services and the re-opening of restaurants. recovery of domestic demand.

Mr. Nguyen Quang Thuan, General Director of FiinGroup predicted the same. “The catering and accommodation industry is expected to return to the new ‘normal’ thanks to the recovery of the tourism industry and the growth in international tourist arrivals,” Mr. Thuan said at an event this month. .

Since officially opening the border from March 15, Vietnam has soon benefited from the return of tourism. Vietnam welcomed more than 100,000 tourists in April, three times higher than in March. According to Google’s Destination Insights data, Vietnam and the Philippines are the only two representatives of Asia in the top 10 countries with demand. The highest growth in tourism demand was in April.

Businesses also see the prospects and see the opportunity to unleash their strength now is reasonable. Long Nguyen, Operations Director of N5 Bar, said that he is very excited and lucky to join the F&B market at this time.

“If you follow it, it will not be difficult to notice that after the last 3 years of the epidemic, many brands have disappeared, especially the ‘night life’ operating models. Instead, a series of new names have appeared with more interesting models, more elaborate in terms of products and services,” Long said. His unit himself is also experimenting with the idea of ​​a minimalist cocktail bar, focusing on providing a private space and saying it is well received by customers.

But there will be some challenges in conquering this market. Human resources is one of the top problems. “In fact, recruiting personnel after the epidemic is currently very difficult, partly due to the shortage of labor in the market, and the expectations of employees’ income have also changed a lot compared to before,” Long Nguyen said. of N5 Bar said.

This unit is trying to help employees optimize operational efficiency, build an attractive working environment, as well as reduce unnecessary positions. In the same assessment, CEO of King Cua Doan Thi Anh Thu said that the market is lacking in the group of unskilled workers, so people also face many difficulties.

Some units are also confirming that there is pressure on input material prices. “The cost of raw materials increased significantly, but the selling price was not increased. The story is always like that, so it also causes many difficulties for businesses”, Ms. Thu added.

The casual to mid-range dining segment is even more affected. “Petroleum, transportation, goods and raw materials have all increased, but customers are choosing a lot in terms of price,” Minh Man said.

According to him, this makes traders more careful when building and pricing while still having to increase quality continuously. “Currently, many people are returning to F&B investment, making the market very competitive. However, it is a good signal for customers and consumers, showing that the market is getting better and more advanced”, Mr. Man evaluate.

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