Tracking the journey to recovery for Nigeria’s quick-service restaurants

The quick-service restaurant segment in Nigeria took a hard hit due to the COVID-19 induced restrictions, according to DeLoyd. Pat McMichael, CEO of Eaton Goh, shared that the company's coping strategy involved partnering with online retail and third-party delivery companies to reach customers during the challenging times. Now, as the industry looks towards recovery, McMichael sheds light on the journey and the strategies that helped Eaton Goh stay afloat and even thrive amidst the pandemic. The industry faced significant challenges during the peak of the lockdown, with a sudden 60% loss in revenue overnight. However, rapid pivoting towards a delivery-focused model and online ordering systems helped the company bounce back. Technology played a crucial role in this recovery process, with partnerships with platforms like Jumia aiding in meeting evolving customer habits and expectations. The importance of innovation in adapting to the 'new normal' cannot be understated for companies like Eaton Goh. While the pandemic accelerated the need for technological solutions, McMichael emphasizes that it's the procedures around these innovations that truly ensure customer satisfaction and safety. As the business navigates through economic uncertainties like inflation and currency devaluation, strategic purchasing, hedging, and efficient inventory management have been vital. Despite the challenges, Eaton Goh has managed to maintain stability and avoid significant price increases for customers. With a strong foothold in Nigeria and Kenya, and a commitment to continuous adaptation and innovation, McMichael is optimistic about the company's future. The journey to recovery for Nigeria's quick-service restaurants has been a test of resilience and adaptability, with companies like Eaton Goh paving the way for success in a post-COVID landscape.