Given the shift away from discretionary spending and change in consumption patterns, analysts have turned positive on local food court and coffee shop operators Koufu Group and Kimly which offer affordable and convenient meals in a casual setting.
With Singaporeans encouraged to continue to stay away from the office, lunch for the work from home HDB heartlander now means either home-cooked food or a quick jaunt to the nearest coffee shop or hawker centre for a plate of chicken rice or mee goreng to go.
In contrast to the heartland eateries, business in upscale restaurants and cafes in the central business district and downtown areas are still finding it difficult to recover to pre-Covid-19 levels even after the lifting of the “circuit breaker” lockdown on June 1, with the economy looking bleak and job losses mounting.
