Rising Competition in Food & Beverage RetailBut as more people are realizing the potential aspects of this industry, the market is getting even more competitive and challenging in nature. There are so many small startups now along with the big houses that there is constant competition and rivalry of survival. So, here is a trick for those who have just started a venture in food and beverage or wish to have their start-up in this industry in the coming few days. All you need to do is to follow some of the hot food beverage trends that are definitely going to help you in boosting up your business.
Looks Matter:This phase is very much true in today’s world of Instagram and Facebook. The current times have also seen a rise in the number of food bloggers who visit places that are fancy and attractive. Of course, there are also many food bloggers who explore places irrespective of their looks, but the number of people who run after great looks is comparatively higher. Not just food bloggers but usual customers also love to visit restaurants and food joints that may be small but are arranged in a cozy and attractive way. The reason is simply that they crave to get good pictures for their Instagram stories. Not just the ambiance but the presentation of the food is also a great thing to notice. Today, you will find images of food floating around on different social media platforms. This is because people love to click pictures of fancy food items in a fancy restaurant. So, if you do not wish to be left behind, buck up your bets and think of something creative for your restaurant as well as for the presentation of your food items on the table.
Higher Competition:There is already so much competition with so many new and old food joints and restaurants. Now another challenge that has come up is that many of the non-food brands are also taking a dive in the food and beverage industry lately. There are so many examples to explain this point such as the well-known brand Tiffany & Co, which actually deals in jewelry came up with its restaurant the Blue Box Cafe. Of course, the cafe attracted a lot of customers since the starting itself due to the brand recognition that Tiffany has. So, this can get quite challenging for many other restaurants to compete with such big brands entering the industry.
So, what is the solution here?If you are from the food and beverage industry purely, you will know this industry much better than those who are coming from the non-food industries. Hence, you need to take advantage of this fact and have to plan strategies to offer your best options to keep up with your customer flow.
Online Food Ordering:The craze of ordering pizza over the phone to get it delivered at home has been there for many years now. But now many insights have disclosed that the amount of food ordering transactions have increased much more than before. Of course, the recent pandemic has had a major impact on it as now many people are scared of visiting crowded restaurants and prefer to order food online to maintain social distancing. So, to survive, it is very much essential to offer your customers the option of online food ordering through any application or through a website, whichever is convenient.
The Value of Ethics:Even though life has become tough and busy today, people are still sensitive towards any act of ethics and value. It is a major fact that while the food and beverage industry has much higher sales than any other retail industry, this is another dark fact that the food industry also struggles to reduce the regular food wastage that takes place. To curb this, many of the food joints have taken the initiative to donate unused food items among those who are needy. Similarly, in the wish to maintain a fancy and high profile set up, often many restaurants forget that every human being is not the same. There have been histories where restaurants do not allow people in wheelchairs or in non-standard attires to enter the vicinity. Such discrimination definitely evokes a sense of boycott in many sensible customers and the business crashes down. On the other hand, there have been noticed many restaurants such as KFC that do not just respect all kinds of customers but also takes initiative to hire some staff members who have a certain disability so that they can also earn a decent living.
Customization:Today people love to get things that have been customized especially for them. Also, the increasing cases of allergies to different items have made many people quit eating at restaurants. Also, staying healthy has become a priority today due to the increasing health concerns. In such a case, restaurants offering customization option has become a favourite of many of the customers. Restaurants such as Subway offer their customers to customize their sandwiches or salad so that they can choose the items that they wish to have and avoid those that can be problematic for them. No doubt such convenience allows more people to drop in and increase the sales of such restaurants and food joints.
ConclusionOne of the most essential ways to be in the competition and grow well is to adapt to the ongoing trends. These trends will change from time to time and you should be flexible enough to change your attitude also according to them. Currently, the above few trends are highly on the racks and many startup businesses following these trends have noticed success coming on their way much faster than usual.
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