YYT Food Corp. is establishing real equity as a leading operator in QSR and Fast Casual across the GCC and MENA region, delivering multi-brand, in multi-market food solutions.
YYT Food Corp. aims to carry forward the legacy of what was a family business and create a culturally well-rooted organization based on strong values, committed to its communities.
Our mission is to become the preferred company delivering a variety of cuisines in different regions and be the preferred institution of our customers, our employees, our stakeholders, and our brand owners.
Companies that understand the consumer needs at this challenging time and aim to provide solutions for away from home meals in an untraditional way will overcome this unprecedented challenge. YYT has invested in online delivery infrastructure to reach new customers via different digital platforms and created a constant flow of information on food safety and hygiene to maintain the customer’s confidence.
F&B operators understand that the cost element is vital to stay afloat. Micromanaging the cost across the organization is crucial during 2020-2021. In my assessment, companies that will survive in 2021 will see the light as the industry is forecasted to bounce back in 2022. In summary, monitoring cost, full focus on off-premise solutions, and constant communication flow with consumers on safety should be everyone’s focus to overcome these challenges.
In June of this year, we made a bold decision to outsource our delivery in three different markets to aggregators and third-party drivers. While the move may seem to favor the high-cost commission aggregators, it actually allowed us to focus on doing what we do best, making great food while leaving others to do what they do best, delivering it.
It resulted in more than 12% growth of delivery transactions over the same period last year while dine-in declined in double-digit. It provided an equilibrium to the dine-in decline and injected a lifeline into the business.
In my assessment, the market will not come back to normalcy before the second quarter of 2022. While it seems a pessimistic outlook, it is a more realistic reading based on the market recovery we are experiencing after June.
It will be challenging for the market to recover fully by 2022 if a second wave of the pandemic hits the region in the winter. While virtuality is the reality of the current time, food cannot be consumed virtually. Therefore, unless restaurants open to their full capacity and all three channels of service: dine-in, delivery and carry out are functioning, it will be difficult for the industry to rebound back quickly. It is forecasted that dark or ghost kitchens will double in the next 24 months, as delivery becomes a necessity. It will provide an opportunity for new concepts to come to the marketplace with lower investment while satisfying the increased demand for off-premise meals. An option that YYT is exploring at this time to explore untapped delivery areas in Bahrain, UAE and Qatar.
We have been extremely focused on providing the best taste and quality to our consumers. As customers have hundreds of choices when they opt to order online, there has to be a differentiation factor to choose one brand over the other.
While price and value proposition is essential, the quality of food, taste and prompt service usually are the differentiators. Our concepts are built on freshness and live cooking. We have lost the edge of live cooking during the pandemic when dine in was not an option. We focused on providing the same quality through delivery in three different markets, refresh our recipes and retrain our staff on what makes us different. Freshness, taste and food safety; this is what matters the most at this time to create a sustainable differentiation factor.
