Nov 30, 2020
Consumer Trends: Holiday Edition
Running a business in the food and beverage industry can be exciting yet challenging. You’re facing a new era of operations brought on by evolving consumer preferences, governmental regulations, and economic shifts. From small cafés to multi-location restaurant chains, or locally-sourced farms to large food distribution companies, keeping pace with these changes can impact the profitability of your business. But with the right ingredients, we can help you serve up success. Withum’s Food and Beverage Team works with companies who are hungry for growth and looking to innovate to stay relevant while staying true to their brand.
Restaurant/Food and Beverage Industry Trends and Challenges
Consumer Preferences
Trends in consumer behavior and desires can change by the season, which can impact your bottom line very quickly.
E-Commerce
A shift to online retail has forever changed the way businesses interact with their customers. Social media platforms are proving as effective ways to quickly learn and engage with consumer’s wants and needs.
Governmental Regulations
Governmental boards want to ensure you meet regulatory standards. Food safety, factory automation, and research and development are necessary areas of focus.
Economic Shifts
The economy brings in a realm of unpredictability. Product sustainability and volatility, international competition and trade rules are forcing food and beverage companies to evaluate their supply-chain management and sustainability.
Inventory
Regulating inventory is a constant balancing act. Businesses need proper inventory management systems to ensure goods are ordered appropriately and used timely to prevent wasted produce and money.
Made-To-Order Solutions
Offering recipes for growth that keep you on-trend in the food and beverage industry.
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