Are you planning to enter the $2 million food and beverage industry in Australia? Now’s the perfect time as revenue is expected to grow by 14.5% annually, resulting in a projected market volume of $23639.77 by 2023.
If you want to increase your chances of success, it’s crucial to stay updated on the trends in the industry. Doing so will help you determine the right opportunity and strategies.
The Rising Demand for Healthy Food
According to the Eating Out in Australia report, the trend of healthy eating has increased by nearly 15 per cent from 2016 to 2017. This suggests the growing awareness of the health risks of being overweight or obese.
Australians want healthier choices when eating out, and this is where you can come in. Think of ways to serve healthy food to customers while keeping your costs manageable. Sandwich shops, in particular, can benefit from this. Sandwiches aren’t exactly seen as healthy foods, but they’re easy to modify. When starting your own sandwich shop, explore options on how to incorporate more veggies and healthy alternatives into your menu.
The Convenience of Food at their Doorstep
Another rising trend is the increasing demand for food delivery services. The revenue in the online food delivery segment is expected to amount to $1,672.63 million in 2019, with an annual projected growth rate of 9.8 per cent.
The buys lifestyle of Australians, plus the increasing popularity of online shopping, contribute to the rising demand for food delivery. It’s wise for food businesses to offer delivery services with minimal charges to increase customer satisfaction. You can also get creative here. Maybe you can add freebies, use creative packaging, and apply other ideas that will help you stand out from the competition.
Digital Food Experience
Convenience is the name of the game as more Australians are also expecting to see websites or social media profiles of local food and beverage businesses. In fact, the 2018 Telstra Small Business Intelligence Report found that 62 per cent of consumers will stop considering a small business if they can’t see anything about it online. This is a significant problem for small companies because the same report revealed that only 50 per cent of small businesses have their own website.
Furthermore, the report found that 83% of consumers think that using search engines in finding a business is “important” or “very important”.
This data reveals the importance of having a digital presence. If you’re planning to start a food and beverage business, or if you currently own one, make sure to have your own Facebook and Instagram business profile. A website with proper SEO will also pay for itself in the long run. Consumers should be able to tell your business’ exact address, contact details, menu, and brand identity from your online website and social media profiles.
Reviews are also important for consumers, so make sure to feature user-generated content and honest reviews on your social media profiles and websites.
Entering the food and beverage industry will give you great rewards if you play it right. Take advantage of the rising consumer trends and think of creative ways to satisfy their demands to stay on top of the game.