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Group 1（Kaiyuan Chen， Yantian Zhu，Wei Wei）

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Group 1（Kaiyuan Chen， Yantian Zhu，Wei Wei）

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UK government negotiating deal with EU for years and it is affecting PRET in different ways in the workforce as they were mainly EU origin but they kept thriving.

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The government has paid more attention to the fast food industry and issued relevant laws to require all raw materials to be marked on the packaging, which has both advantages and disadvantages for the company. More stringent legal requirements may increase the production cost of the company, but it is also conducive to standardizing the production standards of the company and reducing accidents and legal proceedings caused by the company.

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Affected by the epidemic, citizens' lack of confidence in the financial situation leads to the decline of purchasing power, which has a huge negative impact on pret company. The decline of consumer purchasing power will reduce the company's income, which may affect the company's profitability and cash flow ability, thus having a negative impact on the company's operation.

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As people have changed their traditional eating habits and increased the demand for healthy food and exercise, it also has a certain impact on the fast food industry. Make the fast food industry raw materials and production must be green, organic, in line with the concept of customer consumption.

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The fast-casual restaurant industry had evolved and known for its responsiveness to innovative change. Prominent players in the industry included McDonald's, Subway, and KFC. This is a fast-growing sector, although Brexit and the pandemic might have had their impacts on the sector by slowing it down a bit, but certainly not stopping.

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because of impact from covid-19, the overall economic situation in England is decreasing, so the level of  confidence and purchase was lowest in the history.

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because of impact from covid-19, the overall economic situation in England is decreasing, so the level of  confidence and purchase was lowest in the history.

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However, the use of digital technology had increasingly affected the restaurant’s operations. Ordering using the mobile phone had been made easy through apps, self-service kiosks and contactless payment options. Social media such as Facebook integrated with Chownow and Netwaiter companies facilitate such payments through its platforms where businesses on Facebook had their customer place fast food order. Android and Apple pay had played a similar role. These had greatly facilitated the survival of this sector during the pandemic

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For short term
The epidemic has caused people to lose their jobs.  The unemployment rate rises and people's purchasing power declines.  The bargaining power of the fast food industry is very low, so the price cannot be reduced immediately.  This has led to less demand for fast food.
For long term
With the improvement of the pandemic situation and the relaxation of the government's fiscal policy.  People's purchasing power and confidence will be significantly improved.  With the development of the economy, the demand for fast food will gradually increase.

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- Attitude towards Savings – The culture of saving in US and China is totally different where savings rate in China is around 30% , it is well below 15% in United States. This culture of consumption and savings impact both type of consumption and magnitude of consumption.

- Power Structure in Society – Pret Shops should carefully analyze both - What is the power structure in the society? How it impacts the demand in the economy. For example the power structure in US economy is slowly moving towards the older generation as that generation has higher disposable income compare to the younger generation.

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As a result of the epidemic, the government imposed a blockade regulation, which was designed to protect people. So shops were forced to close, except for supermarkets. People started to work from home instead of going to the office and the change in working patterns had a big impact on Pret because the customers were mostly professionals in the city who did their work from home, which meant that the company's profits became lower.

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As a result of the outbreak, consumer confidence fell to its lowest level, as shown in the chart, with the UK consumer confidence index falling to its lowest level in April 2020. When consumer confidence decreases, their spending patterns change. This is because they want to spend the least amount of money to make ends meet and they save a lot of money because of the uncertainty of the future. However, a reduction in consumer spending will reduce Pret's profits.

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The concept of healthy eating is starting to catch on with the population as a sign of healthy living. People would buy Pret's products, which never fails to increase their sales and increase their profits.

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Due to the epidemic, people are unable to dine in restaurants and due to this state of affairs, the use of digital technology is increasingly affecting restaurant operations. It has become easy for people to order using their mobile phones through apps, self-service kiosks and contactless payment options. Pret also uses this takeaway model to deliver food, and his company's sales were guaranteed during the epidemic.