Motley Fool Money Buffett’s Buy and the Future of Restaurants
Jul 10, 2020
David Henkes, Senior Principal at Technomic, dives into the shifting landscape of the restaurant industry. He discusses how the pandemic is redefining dining experiences and emphasizes the resiliency of larger chains compared to small independents. Henkes also explores the rise of delivery services, ghost kitchens, and virtual brands, which are reshaping food service. Additionally, he touches on the impact of consumer behavior changes and the importance of supporting local restaurants through alcohol purchases during tough times.
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Retail Struggles
- E-commerce growth isn't always enough to save struggling retailers.
- Store closures are rising, with 2020 expected to be worse than 2018.
Retail Overexpansion
- The retail industry had an excess of stores, and the pandemic is correcting it.
- Similar to restaurants, overexpansion led to a bubble that's now bursting.
Innovation From Closures
- Store closures may lead to innovation in retail, like immersive technology and new store uses.
- Companies like Simon Property Group are adapting by incorporating entertainment, offices, and apartments into mall spaces.