With all the stay at home orders in place thanks to COVID-19, the restaurant industry has taken a hit to put it mildly. The National Restaurant Association has an in-house research team that has actively been looking at the numbers and true scope of job and revenue losses in the industry.
Hudson Riehle is the Senior Vice President of Research and he is joining us today to discuss, in depth, what the numbers are showing us about the effects of the pandemic and forecasts we can make in terms of how restaurants can adapt.
Hudson explains the chain reaction of restaurant closures and how that directly impacts the entire supply chain as well as consumer behavior. He also discusses the different ways that restaurants can adapt to their new normal. Although things are looking dire, he does offer some hope on the horizon: a year from now restaurants will start seeing a return to more normal operations.
[00:45] - Interview with Hudson Riehle
[02:06] - The current state of the restaurant industry
[04:30] - Ripples down the supply chain
[07:24] - Getting back to normal
[19:03] - Sponsor: ServSafe
[19:19] - Each customer's effect on the bottom line
[23:09] - Returning to pre-COVID employment levels
[30:30] - Environment of uncertainty
[36:03] - Sponsor: ServSafe
Hudson Riehle is the Senior Vice President of the Research and Knowledge Group at the National Restaurant Association.
The restaurant landscape has changed drastically in the last few months. To help restaurateurs navigate the impossible decisions they will have to make in the months to come, Order Up, is a brand-new podcast from the National Restaurant Association dedicated to aid in the recovery of restaurants and their employees.
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