Table of Contents INTRODUCTION...........................................................................................................................1 MAIN BODY...................................................................................................................................2 Examination of the key trends in the food and beverage sector in the hospitality industry.......2 Reviewing current food and beverage offer of the chosen hospitality business........................4 Evaluating the impact of new food and beverage trends on consumer choice and spending.....6 Providing recommendations for improvement of their food and beverage offer........................7 CONCLUSION................................................................................................................................7 REFERENCES................................................................................................................................8 .........................................................................................................................................................8
INTRODUCTION Hospitality is the industry that includes numerous different number of sectors. In all these different sectors various organisations are working to satisfy the demand of consumers and earning significant amount of profits (Hospitality Industry: Definition & Overview, 2020). Food and beverage is the one that lies in hospitality industry. Large number of different businesses present in this sector includes restaurant, cafe, pubs and bars. The main aim of these all is to satisfy the demand of consumers to earn significant level of profit. Role of management in same is important because needed to made changes in offerings and business model on continuous basis according to recent trends. In case, if anyone not able to made changes then not possible to gain success. There is frequent number of changes in trends under food and beverage sector and their adherence on time is must for all different nature of businesses to gain success in market. Under this sector, trends are not only regularly changing related to product offerings but it does for all different associated aspects of a business such as business model, ambience, services, technology and location. It is an obligation over management that focus over all different trends so able to improve capabilities and power to attract new potential consumers. This is the only way that will help different businesses under this sector to sustain for longer period of time. There are numerous number of benefits associated with adherence of regular market trends to an organisation such as competitive advantage, high brand image, customer satisfaction, long term relation with consumers and high amount of earnings. The hospitality business taken for analysis in this regard is named as The Fat Duck. It is one of the finest restaurant that received five Michelin stars. This has physical market presence in Bray, Berkshire. It is famous in market for its 14-course tasting menu that features quirky dishes such as nitro-scrambled eggs and a dish called Sound of the Sea which includes listening to audio as part of the experience and bacon and egg flavoured ice-cream. The aspects covering in this report includes examination of the key trends in the food and beverage sector in the hospitality industry, reviewing current food and beverage offer of the chosen hospitality business, evaluating the impact of new food and beverage trends on consumer choice and spending and providing recommendations for improvement of their food and beverage offer. 1
MAIN BODY Examination of the key trends in the food and beverage sector in the hospitality industry Food and beverage sector is the part of hospitality industry. There are are many others sectors that exist in hospitality industry. The scope of this industry is very high and having significant contribution within an economy of nation. In all the different sectors, large number of organisations are working with the aim of satisfying consumer needs and earning significant amount of profits to continuing business operations in market (Burke and Hughes, 2018). It is possible to do only in the situation when able to work according to trends and continually building changes in operations. It is tough to do because changes in trends are occurring continually. It is an obligation over management that research about them and focus over arrangement of resources that help in effective adoption of same. The different number of businesses operating under food and beverage sector includes restaurants, cafes, pubs and bars. The success and failure of these also totally depends over their ability to build changes and accepting trends. Currently, the key trends presenting under food and beverage sector includes; Sanitisation:In the present situation of Covid-19, sanitisation is the most important requirement to safeguard from the contamination of virus. This is important to adhere by the each and every business under food and beverage sector because there is large possibility of contamination to employees and consumers. Any kind of issues in relation to adherence of same and presence of Covid-19 case leads temporary discontinuation of business that has major impact over their earning capacity along with brand image in market. Automatically due to the presence of pandemic situation, business of food and beverage sector is on lowest mark. No one want to risk their life and avail services that might cause health issues in future. Sanitisation is the only aspect that present as some source with businesses under this sector to reopen their offerings and convince consumers that their operations are safe in nature and they never going to be contaminated in future (Camilleri, 2019). Here, businesses also under obligation that safeguard the health of their employees and simultaneously paid wages. Now, it is possible in the situation when they continue the business because earning is the only source of payment to their employees. Here, sanitisation playing the dual role i.e. safeguarding the health of employees and provide an opportunity to business to gain attention of some amount of consumers so they can earn and paid from same same to their employees. 2
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Social distancing:This is in trend because of the situation of Covid-19. This is another technique that will help in safeguarding a person from getting contaminated from the virus if someone supposed to have same. As per the research ascertained that it is not air borne virus means not transferring from one to another due to the medium of air. So, minimum difference of 6 feet help to safeguard from bring contaminated from the person who is possibly suffering from the issue of Covid-19. So, all the businesses under food and beverage sector are needed to made changes in their business operations to adhere this trend. In case, if they unable to do so then not allowed to continue the business operations in current period of time. Hygiene:Hygiene is in trend from the large period of time. Now, it become necessity in the situation of Covid-19 because this is the only way that help to safeguard from spreading of contamination in between one to another (Camilleri, 2019). Here, businesses are needed to maintain hygiene in every different aspect related to business such as food, internal and external surroundings,furnitures and fixtures,utensils using on regular basis and working staff. Now, these all business related hygiene aspects are important to attract consumers and continuing business operations for longer period of time in market. Among all, food hygiene is always first that mostly preferred by all different consumers. This has huge contribution in direction of consumers major satisfaction as everyone demanded to eat healthy that do not have any negative impact over their health in future. Diversified offerings:Currently, market is low due to the situation of pandemic in all over the world along with UK. But, before to this, determined that there was trend in mark about diversified offerings so able to justify the demands of consumers at one place. This adopted by all as strategy regarding attraction of new potential consumers and retention of existing with themselves for longer period of time. This help as competitive edge for businesses as they working in the direction of minimising business activities of other and attraction of new ones on the basis of their established brand names. In future, the similar will be adopted by all once everything get back to normal because this is the only option that will help to retain every segment of consumer (Cooper and et. al., 2018). Fast services:This was in trend before to the situation of pandemic and ascertained that will existwhen everything get back to normal in future. The reason behind the presence of this trend is the lack of time with everyone. Secondly, do not like to wait long for availing services. In this regard, many arrangements were done by businesses like online table booking, digital 3
menu, take away and home delivering. All these are effective in their own areas regarding satisfaction of the consumer needs and requirements. All the businesses must focus over improving their services more in terms of all respect like speed and greeting of consumers. This will have huge positive benefits for businesses to attain success in market along with continuous level of growth (Arnold and et. al., 2018). Ambience:This is about the surroundings exist in businesses that have potential impact over the mind and thinking of consumers. There is huge positive and negative impact of ambience in selection of the place along with suggesting others to visit the same. Good level of ambience help in creating positive energy in surroundings that is sufficient in direction of providing positive experiences to consumers. While, in case of negative ambience, there is no chance that consumers will ascertain positive experience (Ivanov and Webster, 2019). It only disseminate negative experiences that resultant into negative publicity of businesses in market. So, it is important for all businesses under this sector to maintain effective of ambience for attraction and retention of consumers. In the current period of time, this must be secondary in nature but in future must help to regain the trust of consumers and attaining competitive edge in operating positioning. Quality offerings:This is about providence of quality offerings so all consumers belonging from different segments will be satisfied. This aspect always has importance in market and never goes out of trend. This must exist as permanent characteristic among all businesses. This always has positive contribution in attracting consumers on any point of time like the current one where business opportunities are lowest in nature and the time when it reaches the highest level. So, everyone has to focus over establishment of this quality as permanent characteristic (Korstanje, Raj and Griffin, 2018). Reviewing current food and beverage offer of the chosen hospitality business The chosen business in hospitality industry under food and beverage sector is The Fat Duck. The review regarding its food and beverage offering in current period of time is presented below; Cleanest offerings:The restaurant named The Fat Duck has good market image regarding providence of cleanest offerings. This was the reason that it got 5thrating in Food hygiene. This clearly depicting that standards are properly adhering by management and staff of restaurant. Also, they always focus over made changes in their techniques according to trends so 4
able to improve themselves over the period of time. This was the reason that it got 5thrating in Food Hygiene means very good. Diversified offerings:This restaurant has belief in provide of diversified offerings so able to attract and retain all possible different segments of consumers. In offering of same they do not compromise with quality. This was the reason that positive were undertaken from all over of the consumers. Also, able to attain good rating over online platforms. This restaurant also has specialised offering i.e. 14-course tasting menu that features quirky dishes such as nitro- scrambled eggs and a dish called Sound of the Sea which includes listening to audio as part of the experience and bacon and egg flavoured ice-cream. It provides dinner and lunch at their premises along with opportunity to people that celebrate their birthdays, holidays and special occasions (Mitchell and Teti, 2020). All such aspects positively contribution in the exercise of business growth and expansion over the period of time and simultaneously help in future to grow with same rate of speed. Qualitative offerings:This restaurant as name in market for their qualitative offerings. This was the reason that it was able to get five Michelin stars. Also, large number of awards are wining by the restaurant over the period of time includes UK's top restaurants, Squaremeal award- best UK restaurant,Squaremeal award- restaurant of the year and UK's top 100 restaurants 2018. This clearly depicting all different measures were adopted by restaurant and continually update themselves according to the time period. This was the reason that able to win different awards continually over the period of time along with five Michelin stars. Fast services:The current level of service is quite good and above to the level of other existing restaurants. Also, staff and management of restaurant is able to provide fast services so consumers do not wait for longer period of time. This was the reason that it able to create positive image in market. This determinant has huge contribution in the direction of improving business of restaurant along with attracting of new and existing consumers (Morrison, 2018). Good atmosphere and ambience:The ambience of restaurant is good. This was the reason that it attracts large number of different segment consumers whether it would be families, couples or business partners. This is the favourite for all because able to connect and ascertain positive vibes from the place. The ambience is perfect for all because having expertise in different aspects or activities such as fine dining, fun, luxury, quiet conversation, quirky, unique 5
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and widely spaced tables. All these has huge contribution in direction of satisfying different needs and requirements of consumers (Vogelpohl, 2018). Evaluating the impact of new food and beverage trends on consumer choice and spending There is direct impact of food and beverage trends on consumers choice and spending. This can be understood from the description provided below; Sanitisation:After the outbreak of corona virus, sanitisation is the first requirement for everyone to do on regular basis whether it would be individual or an organisation to carrying further activities. After the long temporary discontinuation of businesses in food and beverage sector, government allow to carry operations through adopting different level of measures from which one is sanitisation. Any business who effectively adhere the same will have positive influence over the choice and spendings of consumer. They will be preferred to visit the place in which rule of sanitisation is perfectly adhered even they got limited choices or spending large amount of money (Regan, Park and Chorpita, 2019). This is so because health safety is first and nobody cares about the expense in front of same. Also, this will help them to safeguard from the risk of contamination. So, any business under food and beverage sector want to attract consumers needed to adhere the policy of sanitisation perfectly even it is costly or reducing the profit margins because aid in creating positive belief among the minds of consumers that they will get best from the place. Social distancing:This is the similar kind of trend that exist in market due to the issue of Covid-19. It is an obligation over the all businesses under food and beverage sector that adhere rules perfectly otherwise have to face the consequences in from of discontinuation of business or penalty. This further also having negative impact over brand image of businesses where getting recognition as not adhering the rules and not cared about the health of consumers and employees. Here, this trend having impact over consumer chose and spending in the manner that they will never prefer to visit the place which is not adhering the same or having bad image in market related to adherence of policies. This is so because health safety is always prime over number of choices and level of spendings. So, all the businesses under food and beverage sector needed to focus over adhering all preventive measures including social distancing so able to positively influence the behaviour and choice of consumers (Saito and et. al., 2018). 6
Providing recommendations for improvement of their food and beverage offer All the businesses including The Fat Duck under food and beverage sector has to implement the below mentioned recommendation to improve their business operations; Regular check-up:All the businesses including The Fat Duck needed to implement the measure of regular check up of their employees and consumers. This will provide an opportunity to determine at initial level if someone has health related issues. Also this will provide an opportunity to create positive image in market where consumers having belief that they will not contaminatedthrough takingof theirservices. Thislevel of trust and relationhashuge importance in current period of time to attract consumers and sustain the operations in market at such tough times too (Timothy, 2018). Sanitisation:All the businesses including The Fat Duck needed to arrange the system aboutregularsanitisationofplaceoneverydaybasis.Also,theyhavetofocusover implementing mechanism of hand free sanitising of employees and consumers so they do not spared contamination to each other. This exercise will have huge contribution in attraction of consumers along with creating distinctive image (Uysal, Sirgy and Kruger, 2018). CONCLUSION It has been concluded from the above report that there is huge contribution of trends adherence in getting of success in market. It is must for all organisations under any sector or industry including food and beverage that they ascertain information about current trends and take measures so able to follow the same. This exercise attached with large number of benefits suchascompetitiveedge,higherprofitability,improvedproductivity,higheremployee engagement and improved level of customer satisfaction. It is the duty upon management of an organisation that they research about trends and taking measures that will help to adopt the same. The current level of trends existing in market includes sanitisation, social distancing, hygiene, good ambience, fast services, quality offerings and diversified offerings. All these has huge contribution in stimulating demand about their services along with attraction of new potential consumers from the different field. Currently, the level of market and business is on lowest mark due to the impact of Covid-19. But, in future adherence of same will definitely help in improving business activities. 7
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