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The initiation ofimmunization programs across the country may have given Americans a new feeling of hope for 2021, but there is still no end defined in order to prosecutecoronavirus pandemic. This puts the food services sector in an increasingly desperate position because recovery in this sector depends on the opening of the states and allowing dense foot traffic.

The extent of losses across the restaurant industry has been demonstrated in aDecember 2020 survey led by the National Restaurant Association. He indicated that 17% of all American restaurants were closed permanently or have been temporarily closed for an unknown duration over the past year. A reduction of 87% of the remaining restaurants had reported an average drop in revenue of 36% during the same period. (In touch:More Saddes restaurant closures in your state.)

Now, experts predict that a particular food service segment will have a slower recovery route than the rest: coffee chains. Bloomberg Stated that the domestic coffee segment experienced a 25% drop in sales, representing a loss of $ 11.5 billion for US coffee chains. And the fall of foot traffic has affected the two national mega-chains likeStarbucks andDunkin"And smaller regional channels likeBluestone Way.

Industry experts plan that it will take years for coffee chains to get back on foot, sales should not be returned to pre-pandemic levels until 2023.

There are fluctors of hope, however: at the time of this writing, theStarbucks Stock Trade slightly higher than in the weeks that preceded the dramatic dip in March 2020, because the scope of the pandemic coronavirus became clear.

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