CGA’s most recent report presents the findings of research undertaken from the epicentre of the COVID-19 crisis, surveying 2,000 consumers in China’s most developed bar and restaurant markets in Beijing, Shanghai, Chengdu, alongside Wuhan itself. The survey allows us to understand how consumers in China have reacted to the reopening of eating and drinking out establishments in the wake of lockdown.
Earlier this week CGA released details from their latest Business Confidence Survey providing insight into the concerns of hospitality bosses. Following a hugely popular webinar on the subject delivered on Wednesday 7th May, CGA have revealed more insights from the survey. The survey reveals that operators remain deeply pessimistic about both market prospects and the future of their own businesses, with a third (32%) of senior executives anticipating the need to permanently close sites.
The latest research from CGA provides insight into the concerns of hospitality bosses, with cashflow concerns topping their agendas. Rent has become the number one specific issue according to the survey. Although immediate survival is the top priority, many operators are now tentatively developing recovery plans, but with many concerns and predictions about how COVID-19 will have changed and contracted the market.
A major new survey of the industry from CGA and CPL Learning indicates continued pessimism in the restaurant sector but cautious optimism among pub bosses, and a complex set of issues facing business leaders.
