Food within institutions and companies has gained little airtime in the past when it was provided as an afterthought or company cafes were placed as a space filler, gaining business by default due to workers passing through. Nowadays we are seeing a growing body of institutions and companies who are incorporating food into their business strategy as a way of living up to their ethos. This is because food has and will continue to become an integral part of our lives as it is not only a necessity to us to have but the hospitality of food is a powerful way to stand by values if you provide it based on building relationships, supporting wellbeing and choosing brands/offers which align with your core values. Here are three major ways in which a hospitality strategy can be a part of your core values.
By 2019, the US food hall marketplace will have more than doubled in size in just four years and Europe who already has over 100 food halls dotted across it has double that figure in the pipeline. As with all trends, not every one of these food halls will succeed and reach business sustainability however, the past and present show that the food hall which aims to embrace the community it is in, model its masterplan based on the new consumer and provide top-tier food options based on quality as well as reputation are and will be placed in an advantageous position in Today's food and hospitality marketplace.
Restaurant management platform, SevenRooms has been exploring the shift in consumer needs when it comes to dining out and the results have just come through in their recent report “Turning a Meal Into an Experience” to define exactly what hospitality can focus on to gain customer loyalty. With the focus shifting from food alone to an all-encompassing experience, understanding the key points that enhance or deflate an experience are key. Interestingly enough, a large part of the results can be applied to not only to the hospitality industry but the retail and entertainment industries also who are seeking to provide that ‘value-add’ - the experience, that cannot be found online. From making a space atmospheric to using a customer’s name, here’s what you can take home from the report:
Saying that a food collective concept is a ‘new’ one might be technically incorrect but in the last year or so, their popularity has spiked. A food collective is a concept that contains more than one type of food option in the one outlet. You could consider it as a small-scale fresh food market or food hall where you can get a curated selection of food items like fresh made paninis, hand-tossed salads, daily desserts and local bakery goods all in one confined space.
Strategic masterplanning is a central component of a city’s or shopping centre’s night time economy. With successful application and maintenance of a evening-inclusive masterplan within centres, developments or other mixed-use sites, there is major potential to maximise sales and subsequently, optimise rental rates.So, what are the key elements that are required to developing the experience and food and hospitality offer to create successful night time trade?