The Association of Catering Establishments (ACE) recently conducted its first post Covid-19 pandemic online survey among its members, in order to obtain a clear picture of the industry between January and May 2022.
The survey highlights the fact that almost 76% of its respondents pointed out that their main concern is the increase in stock pricing, which is seriously hindering the sustainability of the industry, ACE said.
"When cross comparing the period in question to the same pre Covid-19 pandemic period 71% of the survey respondents reported that their sales were more or less the same, or worse off when compared to 2019. However when comparing the same period with the fist Covid-19 pandemic year (year 2020), almost 65% confirmed that their sales were better. Moreover, 73% of the respondents noted that such improvement was also noted when comparing sales in the second year of the Covid-19 Pandemic (year 2021)."
When asked what are their major concerns, 76% of the respondents noted that profitability was a major issue, followed by the challenge they constantly face to retain and recruit human resources. Moreover, 41% of the respondents highlighted the fact that banking and other bureaucratic hurdles are also issues of concern, ACE said.
"It is interesting to note that when respondents were asked whether they would recommend that the local restaurant sector should charge deposits on their bookings to counter the problem of no shows, 60% were against such measure."
"When assessing the survey holistically, it is evident that sustainability is the major issue of concern and this is attributed mainly to the impact of the Covid-19 pandemic together with the sudden spike in the stock purchase pricing index, as well as the recurrent problem of human resources. This survey stresses the need for closer collaboration between the government and the main stakeholders in the industry. Such action is needed not only in the long term but most of all in the immediate so as to ensure the sustainability of the catering industry."