FOCUS Brands' Steven Yang expects a rise in virtual brands, concepts in a post-COVID industry
He joins our upcoming conference’s annual Leaders Panel.
An increase of virtual brands or concepts will be part of a post-COVID restaurant industry, according to FOCUS Brands senior vice president and managing director for APAC Steven Yang.
He also expects “casualties” in the food & beverage sector, with “mom & pop stores getting wiped out.” Rent prices will lower, with opportunities seen for getting prime sites, acquisitions and talent.
On how the pandemic changed the restaurant industry, Yang says brands are diversifying their development approach, as some are pivoting to grab-and-go, delivery and other sales channels.
“I think most are still trying to figure out which model will work best for their concepts but this is a wake up call for big size, dine-in, shopping mall concepts,” he said.
Yang will share his latest thoughts on the industry at the QSR Media Asia Conference & Awards’ upcoming Leaders Panel.
Joining him are Burger King & Popeye's APAC president Sami Siddiqui, Chatime Australia CEO Carlos Antonius, Pizza Hut Asia Pacific COO Vineet Sharma, Bain & Company partner Dr. Derek Keswakaroon and Moody's Analytics chief APAC Economist Steve Cochrane.
Don’t miss Asia’s top-tier event for the QSR and fast casual restaurant industry. Register here to join the QSR Media Asia Conference & Awards.
