Things you Should Know About the Restaurant, Hospitality and Retail Industries Right Now

By Remington College Posted June 12, 2022

It might feel like nearly every industry out there was left reeling from the COVID-19 pandemic. It’s not hard to imagine how hard the restaurant, retail, hospitality and attractions industries were hit. Maybe you even experienced it yourself: Your favorite restaurant was take-out only, malls were closed and stores were only open for curbside pickup, or you had to cancel your summer trip and hotel.

If you’re someone interested in working in one of these exciting industries, you might be wondering if there’s still an opportunity for you. Like many other industries, the restaurant, retail, hospitality and attractions industries have all adjusted as we begin to face a new normal. Here are some of the trends happening in each of these sectors right now.

Restaurants
After grappling with the closure of dining rooms in 2020, the future of restaurants might have felt uncertain. In 2021, however, rising vaccination numbers, stimulus money and the reopening of in-person dining has led to a projected jump in restaurant sales by nearly 20 percent over 2020, according to the National Restaurant Association’s mid-year update.

Both the National Restaurant Association and Forbes predict several measures restaurants took during the pandemic will stick around:

• Restaurants will continue to adopt new technology, including online ordering and electronic payment
• Curbside and carry out will stay in demand, as will the option to dine outside
• Restaurants will continue with increased sanitization and health procedures, and social distancing features will likely remain in place
• There may be changes in menu offerings to combat supply chain issues

Retail
Much like restaurants, physical retailers have seen a shifted landscape—the ripples of which are expected to be seen in the industry for years. When it comes to in-person shopping, Forbes predicts we will see the following trends:

• Stores will be set up for distancing
• They’ll also be set up for speed, with items arranged for consumer convenience, cashier-less check out and smaller spaces
• Some retailers will incorporate outdoor spaces
• COVID safety measures will remain in place, including plexiglass barriers, and stores will invest in improvements to help with air filtration to protect staff and guests

Hospitality
Hotels and travel companies were some of the hardest hit during the pandemic. As travel numbers are rising again, the hospitality industry is finding ways to make travelers and staff feel safe, and this will likely affect everything from check-in procedures to hotel design in the future. According to Forbes and Hospitality Net this is what you can expect in hospitality as we finish out 2021:

• Staycations, road trip destinations and “greener” destinations will be popular choices because of continued travel restrictions
• A focus on planning and quality goods, with less luxury and spontaneous spending, will take hold
• Tech will rise in the industry, with options like mobile key entry
• Sanitization and cleanliness, once seen as behind-the-scenes measures, will be at the forefront of the guest experience

Theme parks
Theme parks were highly avoided throughout the pandemic because of the mass crowds and strict regulations, but as we push past the pandemic, theme park goers are excited to be back. Research has shown that the risk level at theme parks is relatively low due to the open air flow, making guests more comfortable to spend their days visiting the parks. Market Watch says those in the industry and fans alike can expect these trends for the remainder of 2021:

• Local or regional traffic will return first, with visitors still sticking closer to home
• New discounts may be offered to attract visitors
• Safety precautions—like limited capacity, queue changes and more—will stick around
• New attractions are coming—but they may be delayed

Despite the aches and pains the hospitality industry has endured, the pandemic has proven that change can bring new and improved ideas that may further the industry in the long run.

Sources

• National Restaurant Association mid-year restaurant update
• http://go.restaurant.org/rs/078-ZLA-461/images/2021-SOI_Mid-Year%20Update%20Final.pdf
• National Restaurant Association state of the industry
• http://restaurant.org/research/reports/state-of-restaurant-industry
• Forbes: Restaurants after the pandemic
• http://www.forbes.com/sites/blakemorgan/2021/01/07/what-will-restaurants-look-like-after-covid/?sh=6fd687a1acb4
• Changes to the physical retail industry
• http://www.forbes.com/sites/blakemorgan/2020/08/10/10-changes-well-see-to-physical-retail-spaces-in-a-post-covid-world/?sh=6aef39b05e91
• The hospitality industry was hit hard during the pandemic
• http://www.forbes.com/sites/forbesbusinesscouncil/2020/09/22/four-travel-and-hospitality-trends-emerging-from-the-pandemic/?sh=321858255a75
• The pandemic will mean far-reaching changes to hospitality
• http://www.hospitalitynet.org/opinion/4103717.html
• Risk levels are theme parks are low
• http://www.washingtonpost.com/lifestyle/travel/theme-parks-summer-guide-openings-rules/2021/05/20/b5d78c6c-b1d0-11eb-ab43-bebddc5a0f65_story.html
• Theme park trends
• http://www.marketwatch.com/story/theme-parks-are-built-for-density-disneyland-finally-reopens-but-its-now-make-or-break-for-the-industry-11619807321
• Restaurant, Hospitality and Retail Management degree
• http://6a41.szyz88.net/restaurant-hospitality-and-retail-management-associate-degree/?prg=9632