So far, 2018 has been the year of the fresh food market for Future Food. With a number of projects in the pipeline as well as a number recently completed including the Adelaide Central Market and Box Hill Central, we are seeing strong growth in this hospitality sector. The growth is sparking interest in market management and developers around the globe to reposition and reinvigorate existing markets to ride this growth or include market concepts in the masterplans of future developments.
Today, food and beverage is one of the biggest assets to a development proven by the exponential growth that has occurred in this category over the last few years. The global food and beverage market has been growing at roughly 5% a year and in doing so, food outlets are now making up over 20% of new and redeveloped retail centres as they become a mainstay and an anchor for shopping centre success. Over the years, and as avid foodies, the Future Food team have learnt that there are a set of common key components that successful hospitality masterplans posses.
With every competitor in the market now understanding that an ‘experience’ is now a minimum expectation, creating a design concept or precinct design that is outstanding on an experiential level, can be challenging. How will customers remember your food and beverage offer from the next? We have eight recommendations that will help to create an elevated experience using interior design as the primary tool. By elevating the design of your interior space using some or all of these recommendations, you can create the best environment for memories and customer loyalty time and time again.
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?