FEA Outlook Q3 2020 results
In August of Quarter Three 2020 we saw the introduction of the government’s Eat Out to Help Out scheme, an initiative brought in to boost the struggling hospitality sector and drive footfall to restaurants and pubs. The scheme proved to be very successful with customers making the most of the 50% discount on food and non-alcoholic drinks, providing a momentary boost for the hard-hit industry.
The positivity has been re ected in Q3’s Outlook Survey results with 46% of respondents forecasting a sales growth between 5% - 20% (2.1), compared to just 18% forecasting the same last quarter.
The weakening economy is still seen as the greatest threat (3.1) to the business operations of FEA members, with the inability to control, mitigate, or pass on cost increases seen as the second biggest threat. Moving up from fourth place last quarter.
Understandably, due to Covid-19 restrictions, online business platforms, email and social media form the top three methods in which FEA members anticipate contacting new cus- tomers.
On a positive development, the feeling between members is that the market will pick up, with 95% of respondents expecting to be operating between 50% - 100% of pre-Covid sales in the next sixth months.
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