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The new reality of eating out in Puerto Rico
Juan A. Hernández, The Weekly Journal
People going out for dinner in Puerto Rico are very well aware of “a new reality” within the restaurant and hospitality industry after the Covid-19 pandemic, and they have accepted it without any major complaints, according to a recently published study by the Puerto Rico Restaurants Association (ASORE, for its Spanish acronym).
The study –“Estudio ASORE de Tendencias” (EAT)– details the changes in consumers habits and trends promoted by the Covid-19 pandemic, the increase in remote work, the reduction in the number employees in restaurants, the changes in the distribution chain and the closing of dining venues, along with the challenges the industry faces.
“Never before have we experienced so many changes, simultaneously. Certainly, these changes have forced us to rethink the way we did business. Great challenges required creative ‘out of the box’ ideas in order to keep quality and service for our customers. After looking at the results of EAT 2022, I can say today that the restaurant industry successfully faced adversity and our clients understand and support us,” said ASORE president Mateo Cidre. The study, commissioned to The Research Office, reveals the changes made by the restaurants to meet the challenges crated by the pandemic have been accepted by the customers, who have adapted to the new realities with greater tolerance than expected.
“The industry is entering a new normal, from the consumer standpoint, despite the very challenging conditions for operators,” said José Alonso, president of The Research Office. “That could very well be explained by the fact that restaurants provide an emotional reward in terms of socializing with friends and loved ones.”
More visits, more spending
Also, consumers are spending more eating out now, than they did in 2018, two years before the coronavirus outbreak. More specifically, consumers report spending $493 a month dining out nowadays, vis-a-vis the $380 they spent in 2018, the year of the previous study. The study identified more than a dozen “Key Performance Indicators” by venue, to illustrate the changes in the consumers’ habits when dining out. Of these indicators, the one with the higher usage for this year is the Quick Service Restaurant (QSR) or fast foods. According to the study, 73% of those surveyed reported visiting a QSR –the highest of all indicators– an average of 7.5 times per month and spending and average of $24.00 per visit. QSRs peak among families with kids.
In terms of usage, QSRs were followed by Casual Diners (38%), Bakeries (37%), Family Restaurants (295), Cafeterias (27%), Pizza Restaurants (21%), Food Trucks (21%) and Chinese Restaurants (21%), among others.
In terms of the number of visits per month Bakeries lead the indicators with 10.9 visits, followed by Cafeterias (10.8) and Coffee Shops (10).
Alonso admitted though, that most of this increase is because customers are paying more for their meals at the different restaurants. “Most of this growth is driven by higher prices,” he said while pointing out that “estimating how much of the increase is due to inflation cannot be done because figures depend on the kind of restaurant, and/or the individual sales.”
In terms of pent-up demand (the consumer’s ‘accumulated’ demand after a period economic uncertainty), the study revealed it to be higher for takeout and delivery than for dining-in. For Alonso this could be a consequence of the consumer “discovering the convenience of off-premise options during the pandemic.” Also the availability of new technologies to improve service and make ordering and payment easier may be contributing to this increase.
Nevertheless, while the Puerto Rican consumer is ready to embrace technology, he would reject the use of technology to the extent that displaces workers from their posts, arguing it is “too much technology.”
According to Alonso, restaurants provide Puerto Rican consumers a socializing experience that no other venue can provide, thus making dining out a better experience than any other activity.
“As long as the industry is able to deliver an emotional reward beyond the mere transaction, it has its future assured,” Alonso concluded.
José Alonso, president The Research Office.
Thank you!Thank you!
Zoe Landi Fontana, The Weekly Journal
With a new terminal for international arrivals and departures, the Orlando International Airport (MCO) is looking swank in the face of the upcoming bustling holiday season. As of this week, JetBlue is the official anchor tenant at MCO’s Terminal C – the brand new international terminal, equipped with stateof-the-art features.
This marks the completion of the airline’s moving of operations from the old Terminal A to the new facility. It will be the only US carrier in the international terminal.
The airline plans to operate an estimated 70 daily flights to 22 different destinations this December. JetBlue has operated in Orlando since 2008 and currently employs over 4,000 crewmembers based in the city. The move to the new terminal bolsters the airline’s service to the region and strengthens the already robust presence in Orlando.
“We are excited to lead the way as the anchor tenant at Orlando International’s new Terminal C,” said Joanna Geraghty, president and chief operating officer, JetBlue. “The terminal’s offerings are great, with remarkable architecture and a variety of food and retail options. This move not only shows our commitment to Orlando and the greater area, but it will also provide a new and elevated experience for our customers as we continue our growth in the region.”
Offerings At Terminal C
If you’re flying into MCO, it’s worth it to stop by Terminal C. The terminal has a modern, bright design and is equipped with new security technology including a baggage handling system, 100% automated TSA screening lanes, and facial recognition systems for international departures and arrivals. Travelers loathe long layovers, but Terminal C is doing its best to change the negative preconceptions
In fact, of having to stick around for a few hours. The new facility has Jetblue plans over 10 retail to operate an establishments estimated 70 and more than 20 daily flights to food and beverage 22 different options to keep destinations this guests entertained December. and well-fed. For anyone traveling between the Orlando International Airport and surrounding areas, transportation is within a few steps. The facility is linked to a new rail station connecting Brightline rail service to and from South Florida. There are future plans to link the terminal to the local SunRail service as well. “Terminal C is a vision-toreality story that fits well with JetBlue’s values and award-winning innovation,” said Kevin Thibault, chief executive officer, Greater Orlando Aviation Authority. “We welcome JetBlue to Terminal C and look forward to having it provide an enhanced travel experience for the domestic and international passengers they serve annually.”
Great community support to many victims of Hurricane Fiona.
United Way of Puerto Rico warmly thanks all the companies, foundations, organizations and individuals, who with their economic donations, have made it possible to support the families of our Puerto Rican community affected by the ravages caused by Hurricane Fiona.
THANK YOU FOR THANK YOU FOR YOUR GREAT EMPATHYYOUR GREAT EMPATHY AND ACT AND ACTION! ION!
Arqto. José A. Rodríguez Barceló Chardry Tirado Christopher Wilbur Debra Agliano Dezarie and Paul Meyers Eaton Corporation Ellen Davis Enrique Hernandez Erin Daily Evertec Inc. Fances Ríos de Morán FirstBank Fundación Fonalledas Jeff and Eric Berry and Politzer John Gregoire Joshua Pitney Lopito Ileana & Howie Lilly del Caribe Matt McGue New Fortress Energy PIA of Puerto Rico & the Caribbean Pulitzer Bogard & Associates, LLC – New York Ron Lenneberg Scott Cook Susan Harvey The 20/22 Act Society United Way Worldwide Yarbrough Family Foundation
Among others.
China’s economic growth accelerated in the latest quarter but still was among the slowest in decades as the country wrestled with repeated closures of cities to fight virus outbreaks. >Chinatopix via AP
China’s economic growth accelerates but weak amid shutdowns
Joe McDonald – The Associated Press
BEIJING — China’s economic growth accelerated in the latest quarter but still was among the weakest in decades as the ruling Communist Party tries to reverse a downturn while enforcing antivirus controls and a crackdown on debt in its vast real estate industry.
The world’s second-largest economy grew by 3.9% over a year earlier in the three months ending in September, up from the previous quarter’s 0.4%, official data showed Monday.
The planned release of data last week was postponed while the ruling Communist Party met to award President Xi Jinping a new term as leader. Investors and the Chinese public watched the meeting for initiatives to stimulate the economy or reduce the impact of the “Zero COVID” strategy that has shut down cities and disrupted business, but none were announced.
The improvement is “mainly a result of more
flexible” anti-virus controls that isolate individual buildings or neighborhoods instead of cities, said Iris Pang, chief economist of ING in a report. But she said more lockdowns are “still a big uncertainty.” ING is a Dutch multinational banking and financial services corporation headquartered in Amsterdam.
“This uncertainty means the effectiveness of pro-growth policy would be undermined,” Pang said.
No data were immediately released for growth compared with the previous quarter, the way other major economies are measured. In the quarter ending in June, the economy shrank by 2.6% from the previous three-month period.
Growth slid in the second half of 2021 after controls on debt that regulators worry is dangerously high caused a slowdown in real estate, one of China’s biggest economic engines. Growth slumped to 4% over a year earlier in the final quarter.
Beijing has eased mortgage lending and local governments have taken over some unfinished projects to make sure buyers get apartments. But regulators are sticking to limits on debt that have forced developers into bankruptcy and caused some bigger competitors to miss payments to bondholders.
The ruling party’s “Zero COVID” strategy has temporarily shut down Shanghai and other industrial centers despite rising costs and public frustration. That has boiled over into protests in some areas at a time when other countries are easing anti-virus controls. For the first nine months of 2022, growth was 3% over a year earlier, barely half the ruling party’s official 5.5% target. Leaders have stopped talking about that goal but promised easier lending and other
In fact, measures to boost growth. The International Monetary Fund and private sector forecasters have cut their Initiatives to stimulate the economy or reduce the impact of the “Zero COVID” strategy that has shut down cities and disrupted business, have not been announced. outlooks for annual growth to as low as 3%. That would be the second-weakest since the 1980s after 2020, when growth plunged to 2.4% following the shutdown of much of the economy for two months to contain the coronavirus outbreak. The slump hurts China’s trading partners by depressing demand for imported oil, food and consumer goods. Repeated shutdowns and uncertainty about business conditions have devastated entrepreneurs who generate wealth and jobs. Small retailers and restaurants have closed. Others say they are struggling to stay afloat. Beijing is using cautious, targeted stimulus instead of across-the-board spending, a strategy that will take longer to show results, economists say. Chinese leaders worry too much spending might push up politically sensitive housing costs or corporate debt. Growth for the first half of the year was 2.5% over a year earlier, one of the weakest levels in the past three decades.
