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?
Francis Loughran, founder and managing director of Future Food, foresees more beautiful cafes and restaurants in our malls and high streets as operators move beyond just food and focus on design-driven spaces and genuine customer service. Read Future Food's ten predictions for food, beverage and hospitality trends that will surface in 2018.
With the arrival of the new financial year comes a time to consider how the next year will pan out for your business. Whether you’re a developer or single operator, how will you continue to increase business growth and maintain asset value in this highly competitive and growing industry that is hospitality? With retails majors such as David Jones announcing their $100million investment into the food sector, it’s no doubt that businesses are all grabbing for a slice of the ‘food and beverage’ pie. Future Food has put together 10 key principles to ensure your retail centre’s food and beverage offer stays ahead for the next financial year and beyond.
How good menu design can persuade your customers to buy more
As a consumer, whether we like it or not, psychology has been used to determine the way we create and angle marketing and as we focus more on the customer, understanding the psychology of these people is a key part of business success. As an operator, there are many ways we can use this to our advantage to maximise sales opportunities and profit margins and increase customer satisfaction as well as return visitation.
Recent research by Deloitte on quick service (QSR) and fast casual restaurants shows that there are some very particular factors that make it easy for a person to choose a menu, spend more and return again and again and these factors will be some of the keys to future success for food and beverage outlets. Here are 5 key facts found in the research that customers want from their QSR’s and fast casual restaurants into the future
Shopping centres are becoming community spaces as opposed to the traditional shopping hub they once were. These spaces are purpose built for people to meet, eat and be entertained in, The industry has the opportunity to create developments that are usable and desirable to the modern customer. Our customers now have the world of shopping in the palm of their hands and hence are looking for that differentiating factor from the spaces they visit. To support this transition, food and entertainment within these spaces has and will continue to grow as an asset category as they provide the point-of-difference (POD), the customer experience and memorable hospitality that cannot be found on the web.
44% of the money Millennials spend on food goes towards buying food when they’re out and about or ordering take away. However, when it comes to what they want to spend their money on, market research has shown that they are looking for something very specific when it comes to their food experience they invest in. Here are the 5 key things Millennials want and will lead to gaining and retaining their business if you provide them.
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