Bizzon

Tuesday 10/11/2020
Bizzon

Could the Covid Vaccine mean a return to 'normal' in 2021?

Yesterday’s vaccine announcement was a welcome relief - not only for the Hospitality industry- but for every business and individual affected by Covid19. 

At the close of business on the London Stock Exchange yesterday afternoon, hundreds of businesses reported leaps in their share price. Bizzon customer Accor Hotels saw an impressive increase in its share price after the announcement - an incredibly positive sign for Europe’s largest Hotel group. 

We must remain cautiously optimistic, but this is a fantastic step in the right direction. After a horrendously tumultuous year, light is finally at the end of the tunnel. Health Secretary Matt Hancock has said that it was "absolutely a possibility" that the vaccine could be deployed by the NHS by Christmas with mass roll-out "in the first part of next year". Could life actually return to normal in a few months time?

So, what will this mean for the industry?

Hopefully in early 2021, normal trade will commence meaning a welcome injection of revenue into hotels, restaurants and bars. As a consequence we should also see a decrease in unemployment rates. Traveller confidence will return, meaning an increase in tourism as airlines are able to commence regular flight schedules. 

What lessons can be learnt? 

If Covid19 has done anything remotely positive, it's forced F&B operators to become more agile. What positive lessons can (and should) be carried forward in 2021?

  • Outdated, legacy technology is just not good enough. Operators have realised that the right technology can make their businesses more agile and enable them to work smarter not harder.
  • Omni Channel Ordering is here to stay. Restaurants who have diversified their offerings and provided eCommerce options to their customers have opened up additional revenue streams. 
  • Digital Ordering is here to stay. Covid19 has irrevocably impacted our dining experiences. Hygiene and efficiency remain priorities for customers. Vaccine or no vaccine - no one wants to touch dirty paper menus or key in their card details on a PDQ.  
  • Guest data > Deliveroo, UberEats. 2020 enabled businesses to reconnect with their customer base, helping them fight back against aggregators while creating meaningful relationships with their customers.

 We hope that operators continue working towards a more flexible operational model. If these changes can yield success in a global pandemic imagine what they can do for your business in a ‘normal’ world.

Photo by RF._.studio from Pexels