Hayley Null, NetSuite’s Food and Beverage Industry Marketing Lead, recently sat down with John Bek, NetSuite’s Food and Beverage Industry Principal to discuss the major trends and keys to success in the food and beverage industry in 2019.
Like many industries, the Food and Beverage market is going through significant changes in both customer attitudes and the technology and processes that businesses can use to meet these new demands. On February 4th, 170 Oracle food and beverage (F&B) customers and vendors from around the world gathered in sunny Fort Lauderdale, Florida to share some of their experiences at the inaugural Oracle F&B Connect Conference: a three-day showcase of Oracle F&B’s core products and strategies. The bottom line was that it’s an industry in major technological flux and starving for innovative change. Here are some of the takeaways.
For distributors and manufacturers, the need to digitalise business operations has been persistent in recent years. They must modernise to suit the changing expectations of today’s B2B buyer, driven by both improved technology and the increasing volume of millennials entering the work place. By 2020, it’s estimated that up to 35 percent of the global workforce will be a millennial, a generation of buyers that is accustomed to doing everything online and who are not afraid to look elsewhere if they do not receive the customer experience they expect. In fact, with 74 percent of millennials happily switching to a different supplier following a negative experience, delivering a superior customer experience that is digitally-led is more important now than ever before.
While acronyms like BOH, FOH and 86, are quite familiar to restaurant owners, there’s one acronym that is a household name in other industries but has restaurateurs still somewhat in the weeds: SEO.
Most restaurant owners know Valentine’s Day is one of the busiest nights of the year, but did you know it’s the second most popular day for Americans to dine out? Thirty-four percent of Americans will eat at a restaurant on Valentine’s Day, according to Entrepreneur. Since the holiday is a $19.7 billion industry, it is a sweet spot for marketing and increasing guest counts.