Singapore Sees New Restaurant Revenge Dining Trend
What is revenge dining and how does it impact Singapore’s restaurant industry?
Singapore’s F&B Industry Seeing a Slight Boost?
Given the damage that the COVID-19 virus has had on the F&B industry around the world, it might be a surprise to many that Singapore’s restaurant industry saw a little bit of an uptick in the latter months of 2020. How was this possible, you might ask? Well, thanks to a concept called ‘Revenge Dining’ Singaporeans are now beginning to show local restaurants a lot of love.
What is Revenge Dining?
The concept of Revenge Dining is a relatively niche one. Sparked by a lack of mobility for those Singaporeans who love to travel, Revenge Dining sees those who would have usually splurged for experiences abroad, doing so at home – with one caveat. The money they spend is mostly on unique, high-end and local restaurants. Many of these restaurants are now packed to the brim with no availability in sight. While this surge in demand might be partially due to Singapore's new distanced-seating rules, Revenge Dining is also likely playing a large role as many fine dining establishments have seen demand rise almost overnight.
Diners Seeking New Experiences
Post-Circuit Breaker cabin fever seems to have taken hold of travel-starved Singaporeans, and that hunger for new and exciting experiences is being reflected inwards toward the food industry. Restaurants that people would have only gone to for special occasions, due to their exclusivity and price, are now firmly entrenched in the local populace’s sights. If Singaporeans can’t get their fix of adventure abroad, then they’ve decided that local restaurants will have to make up for it.
More Restaurants Opening
Considering that we are in the midst of a global pandemic, it seems almost counter-intuitive to think that there would be more restaurants opening than closing in a densely-packed city like Singapore. And yet, this is exactly the trend we’ve been seeing lately. It is possible that a surge in patrons has bolstered demand for Singapore's F&B industry and hungry entrepreneurs are rising to the occasion to tackle this growing demand. If we look at the figures from September, 2020, we can see that “while 215 restaurants closed up shop in September, there were 366 new outlets open in September, up from 336 in August.”
Is This Situation Sustainable in the Long-Run?
Given that this artificial demand has been created by Singaporean Residents’ inability to travel without strict restrictions, it is possible that the bubble we are seeing may burst once borders open up. However, with the pandemic still raging on and with borders looking unlikely to reopen for regular traffic anytime soon, Revenge Dining might actually be the shot in the arm needed to keep Singapore’s F&B industry healthy in tough times.