Payments and rewards platform Fave says transaction volumes from its F&B merchants fell 25% during Singapore’s “circuit breaker” lockdown from April 7 to June 1. But since the start of Phase Two reopening starting from June 19 when the dining-in ban was lifted, transactions had shot up some 8% within three months from May.
F&B eateries and establishments are among the hardest hit by the Covid-19 pandemic. While smaller outlets are depending on online orders and home deliveries to survive, many fine-dining establishments are struggling to stay afloat.
That is because food outlets are required to enforce strict safe management measures and the extra space needed has hurt sales as fewer dine-in customers are allowed. Singapore was also hit by its steepest economic contraction and working from home have caused a fall in dine-in sales. Adding to that is the perennial problem of high overheads like rental and scarcity of labour.
