Spending

4 Ways Food and Hospitality Precincts Can Capture the Experience Economy

4 Ways Food and Hospitality Precincts Can Capture the Experience Economy

Tapping into the customer’s need for experience is a relevant part of all retail and luckily for the food and hospitality industry, giving that to them is not difficult to do with dining and eating being an experience in itself. However, as the industry grows and businesses continue to compete for customer spend it is important that developers and retail masterplanners continually develop the experience they are offering to continue enticing the customer and fulfil their want to spend on more than just a sandwich wrapped in paper. Here are just four simple ways in which food precincts and operators within developments around the world are delivering on an experiential level. 

8 Stats that Show Food is Retail’s Best Friend

8 Stats that Show Food is Retail’s Best Friend

Where once the only way to access new clothes, homewares, luxury items and groceries was to visit a brick and mortar store, now people can do all of their shopping online without visiting a store at all. Australia’s e-commerce alone sales topped $20 billion in 2016. So how do you keep people coming in to your shopfront, retail centre of precinct? How does brick and mortar retail remain relevant in a world where people do their retail shopping online? The answer is you provide an experience and that experience is food.