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PEOPLE

The hospitality industry has taken a huge hit due to Corona virus
Wednesday, 12 August, 2020, 13 : 00 PM [IST]
Karan Sood
There is absolutely no denial in the fact that this pandemic already has and will continue to bring an irrecoverable loss for the hospitality industry. Covid-19 has put the whole world under complete lockdowns. Governments were forced to impose strict restrictions for our battle against the virus. With everything shut down, the economy has suffered and shows a slow rate of recovery in the future. The hospitality industry has taken a huge hit due to Corona virus and continues to remain in loss. Talking about the nightlife, it is the most affected when it comes to bars and clubs as the government is still to issue regulations and allowance to operate.

The virus has made the entire F&B industry suffer as these places had to be shut down. In fact, it is never going to be the same for a while even if it reopens and starts functioning. It is going to transform the way the industry works and is going to pose numerous challenges which cannot be underestimated. The processes are going to change and demands for a system which can help the people achieve their goal of social distancing while they enjoy outside.

Hospitality industry took a huge hit because of social distancing
The very existence of the hospitality industry is based on socialising, vacationing, partying, and basically everything that includes people meeting and greeting each other outside the four walls of their houses and office buildings. With the all-new concept of social distancing, people are not sceptical but also scared to move out and meet other people because that can lead to the spread of the virus.

It is only unfortunate but practical, for a number of restaurants, bars and lounges to have shut down during the pandemic, due to lack of financial resources. Maintaining a restaurant requires huge amounts of money and with complete shut down for more than three months, the owners had no choice but to permanently shut down their businesses or convert into take-away and delivery outlets. The virus has already made many businesses go frugal, people have lost their jobs, loss in revenue all and even shutting down of the businesses. The big businesses might still stand a chance to survive once things start going back to normal but the mid-tier and small businesses have been experiencing and will continue to experience a sharp and steep fall in their revenues bleeding every day and losing the consumers.

The economy is experiencing one of the deepest recessions but is soon expected to experience growth with time and proper participation of the consumers and not to forget passing away of the virus.

Tech integration in the system is the new hope in this new normal
Though people are all set to continue with the new normal, it requires a great deal of creativity before the reopening and functioning of these places can start. The consumer response is supposedly never to reach its full capacity both because of the fear of the virus and social distancing regulations which snatches away the business and also the experience of socialising.

We need advanced technological support to keep people socially distanced while they enjoy their time with their loved ones outside without the fear. Apps with AI-enabled self-checkout system aimed at enabling a contactless and queue less process for the easy functioning of business processes is the need of the hour. These apps are digital and comes with a dynamic system which uses a QR mechanism to make the ordering and payment contact-free, feasible and user-friendly. People are working day in & day out to make these apps the next generation engagement platform for retail & food places where buyers can level up their experiences & business can get better opportunities to sell.
In the last few years, contactless technology has made great progress due to the increasing popularity of smart phones. Contact-less is now a reality which is about to transform consumers daily activities such as ordering, paying for purchases in retail. This new technology will immensely become successful post-lockdown, due to social distancing, hygiene, infection spread.

Such technological integration in the system is moving with a clear approach to convenience. This means that they are not forcing anyone, instead the aim is to create an organic necessity for the product.

These apps are a new customer experience for the end-user and they have a clear approach to cater to the needs of their business partners in the most Innovative way possible. From where I see, the three utmost reasons why a person goes out to eat is because either the place serves great and hygienic food, the pricing is affordable and it gives you a comfortable place to spend some time in, and that is what the app aims too. While restaurants are working at their full capacities to maintain the hygiene, with the integration of technology, they can minimise physical contact and prevent the chances of community spread. When the customer knows that a certain restaurant is taking care of the minimum touch points and giving the same service then people will want to come and eat. So self-checkout platforms are the need of the hour, especially for the hospitality industry.

(The author is co-founder, Fastor - Future Contactless Dining)
 
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