Australia’s food and beverage operators have been striving to return their businesses to some degree of normality in order to drive sales, stabilise costs and prepare themselves for the imminent financial obstacle of Job keeper payments ceasing in three weeks’ time. It is clear from the ABS that the future is bright for food and beverage operations, however, operators need to be creative, flexible and innovative in order to comply with the remaining Covdid-19 restrictions around social distancing and the control in patron numbers in any one enclosed space.
In the course of our work, we have noticed that there are some venues that just say ‘Sydney’. We also know that over the years, Sydney restaurateurs haven’t lit up the world in Melbourne (and vice versa, we might add). All of which got us thinking about why this is so: What is it about the market that creates a ‘Sydney’ venue?
Here we highlight a few of the differences between the Melbourne and Sydney food scene.
Although 2020 will be remembered in Australians (and the world) for all the wrong reasons, hospitality operators continued to push the boundaries, open new concepts providing a welcome haven for Australia’s at large with new experiences that raised our spirits and reminded us that life, food and hospitality will not only survive but thrive.
There are stand out restaurants and bars that have opened across Australia with new and enticing food and beverage as well those who have traded through the ups and downs continuing to deliver excellent food and service.
Here we highlight a few of the many new ones (and can’t wait to try) and share a recent food experience at Ish in Melbourne.
2021 is going to be, in the parlance of your local footy team, a rebuilding year. So much damage has been done to retail in general and hospitality in particular this year that 2021 is going to be a year to heal, slowly getting back on public transport and getting settled into the Next Normal.
2022, then, is shaping up as a really interesting year. The food operators that survived the pandemic, and especially those that opened during it, are battle-hardened and realistic: An excellent foundation on which to rebuild Food and Hospitality. With the gradual renaissance of the CBD and face-to-face interactions, there is ample scope to start contemplating how to harness and encourage demand.
In the current business environment, securing the best F&B operators within your project, development or institution, can be challenging. This may be compounded, by shifting operator demands, (complicated lease conditions, staged incentives, abatement clauses, etc) and a new expectation of rental revenue models, what is the rental return that can realistically be achieved?
Do you or your operators run a loyalty program? If not, it might be time to consider it. Recent research conducted by Nielsen has shown that loyalty programs can increase frequency of visits and customer spend, two major goals when building a successful food and beverage precinct or developing a new F&B concept.
and stay up to date with food and hospitality trends, travel and news.
