FIRC

F&B sector on recovery path, thanks to digital adoption

By December 2, 2020

F&B sector on recovery path, thanks to digital adoption

Minister for Trade and Industry Chan Chun Sing shared that the food and beverage (F&B) sector is on a path of steady recovery, with many companies seeing their revenues back to around 70 per cent to 80 per cent of pre-Covid-19 sales. He also noted that many have adopted digital technologies to increase their revenue. Mr Chan also encouraged companies to test new business models to capture growth opportunities and noted how catering company Le Rainbow is partnering with SP’s Food Innovation and Resource Centre to develop ready-to-eat products to increase its revenue streams, given the restrictions on buffets. Similar story was reported in The New Paper and TodayOnline.

Read more at: The Straits Times\Business – 1 Dec 2020

Image credit: LianHe ZaoBao