MOEA report highlights challenges faced by food service industry amid COVID-19

2020/04/08

Taiwan’s food service industry saw a revenue increase of only 0.5 percent in January and February according to figures released by the Ministry of Economic Affairs April 6, underscoring challenges faced by restaurants and beverage shops amid the ongoing coronavirus pandemic.
 
 The figures reflect the lowest growth rate in nearly 17 years, the ministry said, attributing the drop to the public’s avoidance of mass gatherings, including eating out at restaurants.
 
 Though the MOEA expects the trend to continue as the country seeks to contain the spread of the virus, it suggested that offering food delivery services can help mitigate the impact. Based on January and February figures, the ministry predicted that restaurants providing delivery would see an annual growth in revenue of 5.2 percent, while those not offering delivery would see a decline of 8 percent.
 
 Meanwhile, supermarkets and hypermarkets saw upticks of 15.1 percent and 10.8 percent respectively during the same period, highlighting changes in consumer behavior since the coronavirus was first reported in the Chinese city of Wuhan late last year, the MOEA said.

Source: Taiwan Today (https://taiwantoday.tw/index.php)