Thread by @davidhenkes

I've spent this morning on a number of calls and webinars discussing the #global #restaurant market and the outlook for 2020 and beyond. I thought I'd collect some thoughts on where we @Technomic see the business going.
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First, in North America: our midpoint scenario analysis for US #restaurants is a decline in consumer spending of 22% in 2020. Canada's outlook is a bit worse, with our midpoint expectations at -26% decline. #Delivery and #takeout has been key for operators in these markets.
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Latin America will be harder hit than N America; lockdowns have been significant and economies are generally weaker to begin with. We forecast the midpoint decline for #restaurants in Argentina, Colombia, Brazil, Chile and Mexico will be down ~40% in spending in 2020.
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European #restaurants are starting to re-open (July 4th is a big day in the UK!) but tourism will be down quite a bit & many big events are already canceled. Pubs are a big part of many countries' AFH market and won't bounce back quickly. Expect declines of 35-40% in #Europe
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#Restaurants in #Asia have, to a large extent, been on the front lines and have weathered the #COVID19 storm. Although not safe yet, most of these countries not strangers to respiratory issues, and we don't expect declines here to be as severe. Expect Asia to be down 20-25%.
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Some initiatives that are pretty universal for #restaurants in response:
Safety and sanitation part of brand positioning
Change in operational footprint
No contact/hi tech solutions
Off premise a big focus going forward
#Menu tightening and new formats (#mealkits, #grocery)
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Despite the challenges, we remain very bullish about the longer term future for the #global #restaurant industry. Losses of over US$500 billion (!) in 2020 are hard to recover from, but the consumer needstates still exist and as economies recover, demand will bounce back.
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My colleague @aaronjourden has done some great work tracking #global #restaurant trends and initiatives - he's a good follow for more insights. Also happy to discuss in more detail if anyone needs more info

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