How mass-market dining options will benefit the heartlands F&B

The reduced dine-in measures, however, will continue to affect the industry.

According to a report released by CGS-CIMB, mass-market dining options are expected to benefit the Food and Beverage (F&B) industry.

CGS-CIMB points to work-from-home employees (WFH) and students engaged in home-based learning (HBL). These would result in more footfall to these dining options.

WFH and HBL have also been instated by the government as default for those covered under it.

Kimly, in particular, could benefit the most from this due to its network of coffee shops. 78% of the company’s outlets are located in the heartlands. 

Koufu, meanwhile, is expected to experience a downward trend due to the reduction of dine-in groups to two people. 

Jumbo is also predicted to have the most impact given its focus on the mass premium market. 

As of the latest figures on 21 July, restaurants are still experiencing a 22% year-on-year (YoY) decrease in the Singapore F&B service index, whilst cafes, food courts, and other places experienced a 7% increase YoY. Both, however, are still lower than pre-COVID levels.