digital trends in food and beverage industry

It is into the open world for a … Insights into digital trends in the food and beverage industry. Create wasteful, junky food at your peril. Even as the post-pandemic marketplace continues to evolve, operators have learned to meet the challenges. National Consumer Products Leader, Visit our harnessing technology and data resource center». As food and beverage companies continue to manage through the pandemic and plan for the road ahead, what’s the formula for success? Gain insights into key technology strategies to stay ahead. Leverage Their Enthusiasm. (Source: Customers who are referred to by other customers have a 37% higher retention rate. Bolder flavors are here to stay. Our clients benefit from solutions like machine learning and analytics, automation, customer data, remote sensing, farm robotics, and agile transformations. Blockchain's future in food and beverage companies is now Technology is influencing strategies for product innovation and specialization and highlights the importance of transparency and traceability in the Food, Drug, and Beverage industry. Millennial food lovers are a loyal audience—one that’s powered a 280% growth in food channel subscriptions year over year. These educate users about your business, helping them find, contact, visit and visualize it. Overall, COVID-19 has caused changes to traditional norms in the food and beverage industry. (Source: Generally, online reviews are the second most trusted source of information for users. The smart phone has enabled the consumer to communicate and do business ‘on-the-go’ and now individuals demand food and beverage products which match their changing lifestyles. Some of the best practices for optimizing your GMB page in 2020 are: Word-of-mouth has been one of the most powerful marketing channels since the infancy of trade, and it its power translates to the digital environment unscathed. Digital transformation is rewriting the consumer products industry. Home Digital Trends Digital Trends In Food & Beverage Industry: 7 Strategies To Gain More Customers In 2020. The world is waking up and the demand for health-conscious and environmentally-friendly food and beverage options is reaching a peak. Social media packs enough punch to claim that it is one of the most lucrative channels for the food and beverage sector, because: Instagram, Twitter and Facebook users love food & beverage brands, making these some of the most effective channels to leverage in your digital strategy, both in terms of cost and results. Whether they are seeking culinary tutorials or reaction-video entertainment, this audience is highly engaged – an ideal opportunity to gain more eyes and dollars for your brand. 91% Of Customers Read Reviews. (Source: BrightLocal). The right digital strategies can provide food and beverage companies a variety of benefits, from addressing increased labor costs to optimizing processes and operations. In this article, we will look into some of the most effective digital trends that will help food and beverage businesses gain more customers in 2020. and mass production, as well as a growing variety of flavors and innovative packaging, are hot topics. However, new trends point towards digital disruption finally resulting in the growth of food and beverage industry e-commerce. At the same time as we are seeing technology transform consumer behaviour and expectations, we are seeing the rise of holistic health. (Source: BrightLocal), As much as 97% of review readers also read the account owner’s replies to reviews. The smarter move is to take these trends on board. 5. (Source: Interest in cooking skill videos have skyrocketed 110% in 2018. Convenience. (Source: Introduce your product to new audiences and gain larger following, Educate the audiences on the use and versatility of your products, Increase trust in the quality of your product, Organic / vegan / allergen-free product composition, Environmental and social benefits of your production process, Environmentally and socially responsible values and motives. eCommerce sales will account for 20% of retail sales globally in 2022. SPECIAL REPORT | July 31, 2020. 86% Of Millennials Turn To YouTube For Food & Beverage-Related Tips. Social media packs enough punch to claim that it is one of the most lucrative ... 2. While photos and videos of artfully prepared meals fill our Instagram and Facebook news feeds, so too are petitions against food producers, restaurants and other businesses, as well as stories and photos of meals gone wrong or poor customer service. Top 2021 Food and Beverage Trends. (212) 419-8286 Many companies are leveraging technology and data to achieve business goals, but need to remain mindful of the new risks this can introduce. Norway's food and beverage service industry generated increasing revenues during the period from 2008 to 2018. Reward their passion with attention, freebies and other online or offline perks. However, are middle market food and beverage companies optimally harnessing the full power of digital? Who should be leading and guiding decisions related to technology efforts within the business? That is one of the lessons we learned in 2020, and the message we must take forward into 2021. 81% of customers (and 89% of millennials) want to know more about how the food is prepared and to see “behind the scenes footage”. When a prospective customer searches for your business on Google, the GMB page will show your working hours, website, location and photos at the top of the search results. These solutions can streamline supply chain, identify and track consumer preferences, and manage compliance needs, to name just a few critical areas; they can also provide in-depth analysis and valuable … (Source: Educate your audience on your product portfolio, Educate your audience on the use of your products and their versatility, Gain customer loyalty through user-generated content, Run promotional campaigns to increase store traffic. 79% Of Consumers Trust Food Blogs. (Source: Stella Rising). See Who Else is Coming The eCommerce market is still underused in the US. (Source: 48% of online shoppers utilize large eCommerce marketplaces. This market’s growth rate and volume of consumption will make it more competitive than ever. The reasons why all this effort makes sense is best reflected in these stats and facts: Some general tips on how to set up a profitable online review system for your business are: Google My Business (GMB) is an overlooked business directory that is ideal for companies in this niche and one of the hottest digital trends in the food and beverage industry. In 2020, food and beverage will generate $76.5 billion in revenue, and by 2024, it is expected to reach a market volume of $105.7 billion. Hate to waste. In order to get their share of customers, food and beverage companies will need to tap into some highly efficient ways of reaching out to prospects and converting them. Build the advocacy marketing program that attracts high-profile advocates: Create exciting content, using storytelling, value-driven campaigns and/or interactive campaigns such as contests with exclusive prizing to gain the attention and engagement of influencers. 1. Experts at the Louisville-based beverage development company, Flavorman, identified drink flavor trends to watch for in 2021. 7. Over the past years, digital trends in the food & beverage (F&B) industry provided alternative methods to adapt to consumers’ ever-changing demands. Almost half of all adults watch food videos on YouTube. More Drinks Go Nitro. High cost-sensitivity . Out of the numerous ways to attract new customers, the following nine will prove to be the most efficient this year – and we have research to prove it. Clients obtained through customer advocacy have 37% higher retention rates. Top 7 Digital Tactics To Attract More Customers For Your Food & Beverage Brand. As food and beverage businesses move beyond the effects of the pandemic—from revive to thrive—it’s hoped that this report will provide organizations ideas and opportunities for improvement, affirm ongoing digital strategies and provide comparison analysis of industry peers. (Source: Brand posts on social media are the meal inspiration source for 19% of users. Streamlined Production. (Source: About 50% of small businesses in the US do not have a website. Without a doubt, the food and beverage Industry is undergoing a revolution. All of our interactions with food have become hyper-digital and socially shared. 91% of users say that positive reviews make them more likely to buy the product. Are organizations seeing return on their digital investments and how should they measure these outcomes? (Source: Food bloggers have four times as many followers than any industry. Visit rsmus.com/aboutus for more information regarding RSM US LLP and RSM International. October 21, 2019. (Source: 79% of users trust blogs for information about food. (Source: Revenue increases by twofold with a 12% rise in advocacy. 79% Of Consumers Trust Food Blogs. The artificial intelligence in the food and beverage market is expected to register a CAGR of over 65.3% during the forecast period, (2020 - 2025). Looking to grow your brand online? (Source: BrightLocal), Each month, an average business gets 59 actions from Google My Business listing. An overwhelming 92% of people trust recommendations from people they know. Leverage Their Enthusiasm. Food and drink businesses are the most mentioned brands on Twitter – with a 32% share of tweets. Changes in consumer demands toward preferring fast, affordable, and easily accessible food options have led to a transformation in the food and beverage industry, with market leaders leveraging advanced technologies, such as artificial intelligence and machine learning to scale operations and help companies … Naturally, we could mention all the new current trends in the sector by mentioning those related to plants, sustainable development or even snack food, to name but a few. Extra tip: 2020 will continue to see the growth of the organic, vegan and sustainable food & beverage trends. Summary Of The Top Digital Trends For Your Food & Beverage Businesses. (Source: Owned channels to distribute culinary tips and campaigns, YouTuber partnerships for endorsements and follower base growth, Ads for greater brand awareness among target demographics, Introduce your product to new audiences and gain a larger following, Educate the audiences on the use of your products, production process and/or brand values, Reinforce your brand identity through behind-the-scenes, endorsements and/or storytelling. Encourage the sharing of this passion to stimulate brand advocacy and reap its benefits. Besides being a fun game, keeping up with these trends is important to F&B directors, hotel or restaurant owners, chefs, … We’ve gathered the data, researched what other influencers in the food and beverage industry are saying, and added our own conclusions to give you our take on 2021 food trends. A simple website can help your food & beverage brand: To recap, some of key takeaways regarding strategies for gaining more customers in the food and beverage industry are: Digital Strategy Master Guide: What Business Leaders Need To Know About Growing Their Brands Online, Website Marketing Strategy: How To Attract Targeted Traffic To Your Website, How to Create a Social Media Branding Strategy From Scratch, We Increased DesignRush’ Organic Traffic By 681% In Six Months – Here’s How, Unique Approach To Driving Results Online, We Value The Results We Create For Our Clients, Get In-Depth Insights Into The Latest Digital Trends, Proven Industry Leadership & Recognized Results, Digital Trends In Food & Beverage Industry: 7 Strategies To Gain More Customers In 2020. Top 7 Digital Tactics To Attract More Customers For Your Food & Beverage Brand. Serve Them Your Products Via Vlogs, Tutorials Or Ads. Identify the places to recruit these advocates from: Look to your customer base and your competition to identify the right candidates for your advocacy marketing strategy. Beverage Industry’s December issue highlights five beverages brands that are “shooting for the moon” in terms of innovation. In this article, food industry leaders and innovators weigh in on top trends driving change toward a healthier and more sustainable food future. Coffee spritzes will be the drink of 2020, according to nearly a … (Source: US online grocery market has grown from $12 billion in 2016 to $26 billion in 2018. The foodservice industry has changed forever, but foodservice operators have the courage and the tools to adapt. 1. To make the most it, create content around: YouTube enjoys a great following among food & beverage customers. non-influencers) who are active and passionate about your brand. (Source: Users have cited the 24/7 availability as their number one reason for shopping online. 4. The Cream of the Crop – The Digital Food & Beverage Audience Raise a glass with Digital Marketing and eCommerce executives from every flavor and vertical; retail, brands, grocery, beverage, tech, and more. Top trends in the food and beverage industry According to 2019 data from eMarketer , grocery e-commerce will grow 18% this year in the U.S. alone — and will rank as the fastest-growing product category online. Let us give you ideas. RSM US LLP is a limited liability partnership and the U.S. member firm of RSM International, a global network of independent audit, tax and consulting firms. Digital Market Outlook ... Industry-specific and extensively researched technical data (partially from exclusive partnerships). Some of the ways your brand can incorporate social media into your digital strategy are: Food bloggers command one of the highest degrees of trust online. (Source: BrightLocal), 76% of users trust online reviews as much as a recommendation from their friends and family. (Source: By 2025, online sales will make up 15-20% of overall sales in food and beverage industry, which is ten times more compared to 2016. Because the food and beverage industry faces unique challenges (seasonal changes, demand for differentiated SKUs, increasing regulatory/quality restrictions, complicated production planning and the sheer scale of production), it is uniquely situated … … Bolder flavors are here to stay ahead you understand Your customers are passionate about Brand! And drink Businesses are the second most trusted Source of online information and. Need to remain mindful of the latest business insights and strategies to mitigate coronavirus fallout and risks for middle food... Us online grocery market has grown from $ 12 billion in 2018 companies harnessing. Forward into 2021 Your customers are passionate about have 37 % higher retention rate insights can be in! Online Or offline perks 2020 will continue to see the growth of the lessons learned. 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