Five tips on managing your business.
November 7, 2022Things to consider before getting a POS system.
May 10, 2023Little To No-Alcohol Beverages.
Low- or no-alcohol beverages are becoming increasingly popular as people are becoming more health-conscious and placing a greater emphasis on their overall well-being. This trend is being driven by a number of factors, including the growing awareness of the negative health effects of excessive alcohol consumption, as well as a desire to lead a healthier lifestyle. Additionally, advances in the global beverage industry have made it possible to create a wider variety of low- or no-alcohol options that are just as flavorful and enjoyable as their traditional counterparts. This has led to an increase in demand for these types of beverages, and many companies are now investing in research and development to create new and innovative products. Overall, the trend towards low- or no-alcohol beverages is expected to continue to grow in the coming years, as more and more people look for healthier and more responsible ways to enjoy their favorite drinks.
Food & Beverage Sustainable Packaging.
The 2022 Route to Sustainability global analysis from FMCG Gurus highlights the growing importance of sustainability in the minds of consumers worldwide. The report shows that over the past two years, more than 40% of consumers have increased their trust in environmental claims made by brands and products. This increase in trust demonstrates that consumers are becoming more aware of the impact that their purchasing decisions have on the environment, and are more likely to choose products that are produced in a sustainable manner.
The report also suggests that this trend will continue in the future, as consumers become more knowledgeable about environmental issues and the impact that various products and brands have on the environment. As a result, companies are beginning to take notice and are increasingly implementing sustainability initiatives throughout their operations. These initiatives can include everything from reducing energy consumption and waste to using more sustainable materials in the production of their products. Additionally, companies are also beginning to communicate their sustainability efforts to their customers through eco-friendly packaging, certifications and labels, and other forms of marketing.
The findings of this report underscore the significance of sustainability activities and the importance of companies taking this into consideration in their business strategy. Consumers are becoming more conscious of the impact of their buying choices on the environment and society, and companies that take steps to improve their sustainability practices will be better positioned to attract and retain these customers.
Experiential Dining.
In 2023, the restaurant industry is expected to place a greater emphasis on ambiance, style, and overall dining experience. One trend that is likely to be particularly popular is the incorporation of theatrical elements into the dining experience, such as interactive experiences that involve diners in serving food. This trend is being driven by the desire for more unique and memorable dining experiences, as well as the growing popularity of immersive, multi-sensory dining experiences.
Yelp, an American company that offers evaluations for various establishments, reports a considerable rise in recent years in searches for underwater restaurants and dinner theaters. The statistics show a 109% increase in searches for dinner theaters and a 263% increase in searches for underwater eateries. This shows that customers are showing an increased interest in dining occasions that are special, thrilling, and adventurous.
As a result, many restaurants are expected to focus on incorporating elements of surprise, mystery, and theatre in their design and menu offerings, in order to create a more engaging and memorable dining experience for their customers. This might include things like interactive food stations, theatrically-inspired decor, and even live performances. The goal is to create a one-of-a-kind dining experience that customers will remember long after they’ve finished their meal. The trend towards more interactive and theatrical dining experiences is expected to drive innovation in the restaurant industry, and it will be interesting to see how operators and chefs will come up with new and exciting ways to make dining out a memorable experience for their guests.
Improved Plant-Based Food
The interest in alternative foods such as alt-dairy, alt-meat, and alt-seafood has seen a significant increase in recent years, according to food and beverage analytics startup Spoonshot. Specifically, the interest in these alternative foods has risen by 262% between January 2016 and April 2022. This tremendous growth is driven by several factors, including the perceived health benefits of alternative foods, concerns over animal welfare, and a growing awareness of the importance of sustainability.
Consumers are becoming more aware of the health benefits of alternative foods, such as plant-based options being lower in saturated fat, cholesterol, and calories. Additionally, concerns over animal welfare and the environmental impact of traditional animal agriculture are also driving consumers towards alternative foods. Consumers are also looking for sustainable food options, and alternative foods such as plant-based options have a lower environmental impact than traditional animal-based products.
Although the movement toward plant-based substitutes is not new, it has significantly increased during the previous five years. Businesses and eateries are also catching wind of this trend and investing in R&D to produce novel alternative food products that are just as delectable as their conventional equivalents. As customers increasingly seek out food options that are healthier, more sustainable, and more ethical, this trend is anticipated to continue growing in the future.
Inflation & Rising Expenses
In 2023, many operators in the food and beverage industry will have to contend with the effects of inflation. The rising expenses and supply-chain problems have already forced several restaurants to simplify their menu selections. This can involve reducing the number of items on the menu, focusing on a smaller selection of high-quality ingredients, or using more cost-effective ingredients in place of more expensive ones. By streamlining their menu offerings, food businesses can reduce their costs and maintain profitability, even as prices continue to rise.
However, there can be some benefits to streamlining menu offerings. One of the most notable is a reduction in food waste. By focusing on a smaller selection of high-quality ingredients, and using them in a more efficient manner, food businesses can reduce the amount of food that is thrown away. This can not only benefit the business in terms of cost savings, but it can also be seen as a positive move by many customers, who are becoming increasingly conscious of food waste and its impact on the environment.
Moreover, many businesses are finding ways to be sustainable and environmentally friendly by reducing food waste and using more locally-sourced, organic or non-GMO products which can be beneficial for the environment and for the business reputation as well.
Overall, managing the effects of inflation will be a major challenge for food businesses in 2023, but by streamlining their menu offerings and focusing on sustainability, they can not only maintain profitability but also attract and retain environmentally conscious customers.
