More Hong Kong restaurants ‘optimistic’ about economy: Deliveroo survey
Nearly 54% of over 9,000 restaurants surveyed reported an increase in their dining-in revenues.
Sixty-six percent of Hong Kong restaurants are more optimistic about the economy and F&B industry, according to Deliveroo’s latest Restaurant Confidence Index, jumping from 18% last quarter.
On average, restaurants ranked their satisfaction in overall business performance at 6, a slight increase compared to 5.9 in the last quarter.
Nearly 54% of over 9,000 restaurants surveyed reported an increase in their dining-in revenues, up 4 points from the previous quarter. Restaurants experiencing a revenue drop declined by 11 points this quarter, with 18% reporting a fall in sales whilst 29% remained stable.
68% of those surveyed saw an increase or no changes to their volume of delivery orders, up five points from the last survey.
Nearly half (48%) of the restaurants fared better this quarter, compared to 36% in the previous quarter.
Only 25% of restaurant partners have seen profit decrease, a 17% increase from the 42% reported the quarter prior.
96% of the surveyed restaurants also revealed that they have “no plans to lay off or ask their staff to go on unpaid leave” in Q4 2021.
63% saw an increase in their operating and variable costs, such as ingredients and sanitising measures.
On rent, 21% reported rental increases, whilst 77% reported no changes in the past three months.
Deliveroo’s Restaurant Confidence Index surveyed the firm’s restaurant partners on business performance satisfaction, quarterly turnover, labour and operational costs, staff turnover and confidence for the following quarter.
Mental wellbeing workshops
In a separate announcement, Deliveroo also partnered with mental health advocacy organisation Silver Ribbon (Singapore) to organise a series of mental wellness workshops for riders.
Conducted last 21 and 22 October, the company said the Rider Stress Management workshops covered taught riders “about the importance of mental health, identifying stress and burnout, valuable tips and skills on managing stress and challenging situations, as well as avenues for seeking help.”
Nearly 50 Deliveroo riders attended the workshops.