The Industry Outlook

This week’s focus will be on the state of businesses in Singapore despite a second wave in the pandemic.

We did some research on Singapore’s market to understand how businesses have been in the past quarter.

F&B Outlook

Good news for those who are in the F&B space.

Food catering has seen an improvement of 36.4%, while fast food and cafes at 10.7% and other pockets of the F&B space at 8.4%.

Part of the reason is due to the low base figure from the previous year due to lockdown and restrictions.

Figures reported by SBR (Singapore Business Review)

Good news is that if there’s anything, 2022 will definitely be a better year compared to 2020 or 2021. That’s because we are living with the new normal with more people heading back to the office and more people travelling.

With more people commuting to office and travelling that means more business opportunies! (more revenue)

Retail Outlook

Similar to F&B, the Retail industry also saw some improvement of 7.2% as of November 2021.

Figures reported by Cushman & Wakefield

Although the increment is due to a low base figure from 2020, these positive figure equates to economical growth and stronger buying signals.

Summary

Overall, with increasing trends across most industries. We are positive that the economy will bounce back to pre-covid days soon.

How to be Different

While businesses are striving to boost sales and increase profits. Some businesses may find it challenging to differentiate from their competitors.

As such, creating great customer service could be one unique value proposition you can offer to your customers. Think about Multinational Steamboat chain Hai Di Lao — what makes their service so great? The people? The Management? All of them.

But this also boils down to quality training and good standard of procedure (SOP). A replicable system that allows each customer to enjoy the same service quality at every outlet.

How DayOne can help

Here’s where DayOne can help to Train and standardize your company’s procedure and information in our Mobile App.

To learn more about how DayOne can help your business, visit our Website or schedule for a Demo.

That’s all for this week~

Ciao,
Bernard Teo