With the Government’s Eat Out to Help Out scheme reportedly being used to pay for 10.5 million meals within the first week, please see below commentary from Tsewang Wangkang, founder and CEO on Embargo. I hope this is of use – please do let me know if you would like any further information or commentary from Tsewang.
Tsewang Wangkang, founder and CEO of Embargo said: “The Eat Out to Help Out scheme is great news for the hospitality sector. Yes it has its limitations, but any move to stimulate activity within the industry is very important.
“However, the scheme only lasts for one month. So, restaurants, bars and coffee shops must still ready themselves for the challenges ahead. As well as implementing new health and safety measures, they must focus on how they will attract customers and keep them coming back time and time again. As people remain within their local area more, hospitality businesses must ensure they are tapping into their loyal, nearby customers – they must be incentivised to return, and this must extend beyond the Government’s Eat Out to Help Out scheme. The scheme is a golden opportunity to turn as many customers as possible, visiting during the Eat Out to Help Out scheme, into returning customers. This is only possible if the venues prepare themselves accordingly by making sure they get to know these customers and communicate with them even after the scheme has ended. Staying in touch with and rewarding loyal customers is a ‘must have’ for every hospitality now.
“The pandemic has obviously dealt a huge blow to the hospitality sector, but we should not pretend the crisis has passed. It is really important that businesses take a smarter approach in the way they nurture their regulars to ensure steady revenue.”