2020 was a year like no other, and with its end, we also concluded one of the most turbulent times in human history. In those testing times, we saw entire industries change & evolve to adapt to what experts termed as “the new normal”. Brick-&-Mortar utilized eCommerce to stay alive, while the hospitality industry adopted online food ordering platforms to make a profit!

The nature of the business, commerce, along the behavior of consumers saw an unprecedented change. Now businesses find themselves in a reality that has been altered forever. But how has the past year impacted buying, & dining decisions of consumers? We find out below.

The Hospitality Industry Had To Go

Businesses had to take many creative steps to entice customers to start using their eCommerce solutions. One such step was to double-down on their social media presence to enable better brand messaging and brand-customer communication.

Similarly, the trend of shifting one’s sales channel online wasn’t just limited to retailers. As  in the hospitality industry several restaurants also created their online food ordering platforms. In tandem with that, they also started selling cookbooks, DIY meal sets, and other merchandise.

This new trend has been met with great enthusiasm from the average consumer. As nearly 20% of the people said that they would purchase artisanal products from restaurants if they have launched their eCommerce store to support them.

People Want To Go Out, But Remain Cautious

COVID-19 gave us a holiday season like no other, as the difference between the realities were stark on Christmas. Usually, what would be a time where restaurants, bars, cafes, etc. would be bustling with customers during peak hours. What we saw was rather sad, as lockdown protocols kept the majority of the world at home during the holiday season.

That doesn’t mean that people didn’t go out to eat or drink, but a large chunk avoided crowded places due to reasonable fears regarding COVID-19.

Nearly 34% of the diners said that they would only dine or drink out if they could reserve their table beforehand. In a European study, we found that percentage to be around 28% in the Netherlands, 20% in Belgium, 16% in Germany, and 11% in Switzerland.

Online Ordering Took Center Stage

Online ordering and payment apps have become ubiquitous for both consumers and businesses. For a restaurant it offers them to still make money and reach its customers, and for the customers, it offers safety and convenience.

In a study conducted in the United Kingdom, nearly 17% of Brits say that they would rather order and pay for their food online than go out as they still feel uncomfortable with going out into the general public.

In the holiday season of 2020, the hospitality industry were completely dependent on either third-party food aggregation platforms or their own online food ordering platforms. This shift did indeed help mitigate some of the losses, and even entice fine dining restaurants to join the bandwagon.

That mustn’t come as a surprise because diners are still willing to pay more for a fine dining experience. 51% of the people surveyed said that they would enjoy a meal from their favorite restaurant if they delivered it to their home without any compromise on quality.

The United Kingdom saw a drastic increase in online food ordering, as 28% of its people choose it over dine-in and use it more often than they did before the pandemic. This number is consistent with other European countries albeit a bit higher. For example; 21% in Germany, 21% in Switzerland, 20% in Belgium, and 18% in the Netherlands.

Businesses Innovated To Stay Afloat

2020 was an exceptionally difficult year for many industries. Having said that, some verticals did indeed enjoy unprecedented levels of growth in 2020. We estimate that these industries will continue on this trajectory well into 2021 as well.

Heavily customer-centric businesses like cosmetics and apparel had to innovate to stay afloat during the troubled times and maintain operations.

Many apparel retailers strategized exciting new ways to reach and serve their customers. To stay operational to maintain their revenue flow despite the hardships.

In the apparel industry, the major hit was on the high-end fashion houses and brands. As the pandemic squeezed the economy everybody found it rather frivolous to spend their hard-earned money on fashion.

One such ingenious innovation was the concept of a ‘Traveling Tailor’. In this new delivery method, a specialist tailor would visit the customer’s home at their behest. This will be done to deliver their garments one-on-one while maintaining all contactless COVID-19 safety protocols.

2021: Hope For Brighter Skies For The Hospitality Industry

2020 was the most unprecedented year in terms of the challenge it threw in front of humanity as a whole. Many businesses were at the forefront and took the impact of the pandemic head-on, while others were safety cushioned. In the end, we all must look for the brighter side to have braved the storm, and now we may look for brighter skies. In 2021, we estimate that all these changes will remain visible as a few things will start to go back to normal!