digital trends in food and beverage industry

High cost-sensitivity . This report features the trends we believe to be shaping the food & beverage industry in 2019: lifestyle adjustments – from vegan to keto; “hot” ingredients – such as cauliflower, tea, coconut, cold brew coffee and nut butters; stress-free solutions – such as on-the-go BFY consumption; and the search for quality protein and “healthy fats” is changing the industry this year. Gain insights into key technology strategies to stay ahead. (Source: About 50% of small businesses in the US do not have a website. October 21, 2019. This market’s growth rate and volume of consumption will make it more competitive than ever. The amount of data required to successfully proceed in food and beverage … Norway's food and beverage service industry generated increasing revenues during the period from 2008 to 2018. Stay on top of the latest business insights and strategies to mitigate coronavirus fallout and risks for middle market companies. 86% Of Millennials Turn To YouTube For Food & Beverage-Related Tips. Consider Reputation Management As One Of The Pillars Of Your Digital Strategy. Be proactive: A guide to internal fraud investigations, Automating accounts payable and expense management, Get ready for health care deal-making 2.0, Complex Accounting and Financial Reporting, Membership, Trade and Professional Organizations, Nonprofit board governance: Building blocks, Technology, media and telecom industry outlook, Digital transformation in the consumer products industry, Visit our harnessing technology and data resource center. 1. Want more customers for your Food & Beverage business? 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. From the billion-dollar club, to the worlds fastest growing companies, this community is one of a kind. Digital Market Outlook ... Industry-specific and extensively researched technical data (partially from exclusive partnerships). Home Digital Trends Digital Trends In Food & Beverage Industry: 7 Strategies To Gain More Customers In 2020. 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. Social Media Loves Food & Beverage Brands. 1. 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. Food content has generated nearly 41 billion views on YouTube. An overwhelming 92% of people trust recommendations from people they know. 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. 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. Customers have become increasingly receptive to different cuisines … Social media packs enough punch to claim that it is one of the most lucrative ... 2. 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 … Their educational and/or entertaining content provides great opportunity for food and beverage businesses to increase brand awareness and retention, as well as gain new customers. 79% Of Consumers Trust Food Blogs. Experts at the Louisville-based beverage development company, Flavorman, identified drink flavor trends to watch for in 2021. 3. New Era of Voice Technology: Voice technology is not something new. Blockchain's future in food and beverage companies is now (Source: 86% of millennials turn to YouTube for guidance on topics like preparing meals. Carol C. Lapidus  (Source: 79% of users trust blogs for information about food. 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. The food industry is evolving rapidly. (Source: 6 out of the 10 most popular brands on Facebook are in the food and beverage industry. Over the past years, digital trends in the food & beverage (F&B) industry provided alternative methods to adapt to consumers’ ever-changing demands. eCommerce sales will account for 20% of retail sales globally in 2022. In this article, food industry leaders and innovators weigh in on top trends driving change toward a healthier and more sustainable food future. Top 7 Digital Tactics To Attract More Customers For Your Food & Beverage Brand. 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 … Extra tip: 2020 will continue to see the growth of the organic, vegan and sustainable food & beverage trends. 91% of users say that positive reviews make them more likely to buy the product. More Drinks Go Nitro. Channel That Trust To Your Brand. Optimize Your Profile To Drive More Traffic To Your Physical And Online Stores. (Source: Food bloggers have four times as many followers than any industry. Even as the post-pandemic marketplace continues to evolve, operators have learned to meet the challenges. 92% Of People Trust Their Peers’ Recommendations. Beer and soda are no longer the only beverages that come in cans. (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. Click through the gallery to see them all. In fact, increased focus on digitization was identified as a key trend in a recent global survey of 120 food and beverage industry leaders. Social Media Loves Food & Beverage Brands. Summary Of The Top Digital Trends For Your Food & Beverage Businesses. However, are middle market food and beverage companies optimally harnessing the full power of digital? 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 forecasting capabilities for smarter measurement and improved business decision-making. Who should be leading and guiding decisions related to technology efforts within the business? At the same time as we are seeing technology transform consumer behaviour and expectations, we are seeing the rise of holistic health. (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. 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. (Source: BrightLocal), As much as 97% of review readers also read the account owner’s replies to reviews. 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. (Source: 48% of online shoppers utilize large eCommerce marketplaces. While findings were compiled prior to the coronavirus pandemic, much of the analysis and insights can be applied in this post-COVID-19 world. Hate to waste. Let us give you ideas. Millennial food lovers are a loyal audience—one that’s powered a 280% growth in food channel subscriptions year over year. (Source: BrightLocal). SPECIAL REPORT | July 31, 2020. Create wasteful, junky food at your peril. Innovative Food & Beverage Trends in 2019. (Source: BrightLocal), Improves business visibility through local SEO, Helps you understand your customers’ behavior. 7. Streamlined Production. The right digital strategies can provide food and beverage companies a variety of benefits, from addressing increased labor costs to optimizing processes and operations. Predictions for food industry trends in 2021 include plant-forward products, personalized nutrition, omnichannel distribution and technology to drive the year towards new innovative products and creative solutions to complex problems. 6. (Source: Stella Rising). Siemens frequently The world is waking up and the demand for health-conscious and environmentally-friendly food and beverage options is reaching a peak. (Source: Users have cited the 24/7 availability as their number one reason for shopping online. To gauge the transformative impact of a variety of digital methods and strategies within the food and beverage industry, RSM conducted a survey of middle market businesses late last year. (Source: Customers who are referred to by other customers have a 37% higher retention rate. We Love These Digital Food Marketing Trends. Encourage Customer Advocacy To Increase Sales & Retention. Coffee spritzes will be the drink of 2020, according to nearly a … Leverage Their Enthusiasm. and mass production, as well as a growing variety of flavors and innovative packaging, are hot topics. Modern consumers seek more nutritious options, which has prompted beverage companies to innovate low- and no-sugar drinks while retaining enticing flavours. To make the most it, create content around: YouTube enjoys a great following among food & beverage customers. Bolder flavors are here to stay. 4. These educate users about your business, helping them find, contact, visit and visualize it. Encourage the sharing of this passion to stimulate brand advocacy and reap its benefits. Clients obtained through customer advocacy have 37% higher retention rates. Convenience. Top 7 Digital Tactics To Attract More Customers For Your Food & Beverage Brand. (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. Food and drink businesses are the most mentioned brands on Twitter – with a 32% share of tweets. 2. Survey report explores the transformative impact digital strategies have on middle market food and beverage companies. 5. 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. You can incorporate video, or more specifically, YouTube marketing into your digital strategy via: Video can help your food & beverage brand to: Your F&B business should encourage customers to leave reviews that you need to monitor closely for higher customer satisfaction. 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. 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. 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). As food and beverage companies continue to manage through the pandemic and plan for the road ahead, what’s the formula for success? (212) 419-8286 The digital revolution is changing many parts of our lives beyond recognition, including the world of food and beverage. This is the growing consumer trend of eating healthy foods that promote phys… 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. (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. 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. Social media is the best place for reaching new and retaining old customers for F&B businesses, as brands from this vertical perform best here. 1. Are organizations seeing return on their digital investments and how should they measure these outcomes? Food and drink products are something your customers are passionate about. Capitalize On This Opportunity Whether Your Are Selling Online Or Not. (Source: Generally, online reviews are the second most trusted source of information for users. National Consumer Products Leader, Visit our harnessing technology and data resource center». It is into the open world for a … 81% of customers (and 89% of millennials) want to know more about how the food is prepared and to see “behind the scenes footage”. Each member firm is responsible only for its own acts and omissions, and not those of any other party. Also in this issue, we spotlight the premiumization of the private-label beverage market, the latest trends impacting the use of tea ingredients in beverages, the growth of beverage sales in the eCommerce platform, and much more! 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. Visit rsmus.com/aboutus for more information regarding RSM US LLP and RSM International. To incorporate consumer advocacy in food and marketing businesses in 2020: Food & beverage brands stand to gain a lot from eCommerce: However, whether you are looking to sell online or not, digital presence can be a powerful tool to expand your market and support almost every stage of your sales funnel. Here are some of the top ingredient and flavour trends that have impacted the 2020 food and beverage industry and will remain to please customers in the coming years. (Source: BrightLocal), 76% of users trust online reviews as much as a recommendation from their friends and family. Having a reputation management strategy in place pays off, as online reviews are the second most trusted source of online information. Digitalization trends in the food & beverage realm play an increasingly large role at this conference. (Source: Think With Google). (Source: Brand posts on social media are the meal inspiration source for 19% of users. Almost half of all adults watch food videos on YouTube. (Source: Find the perfect consumer advocate for your brand: Target social media civilians (i.e. Technology is influencing strategies for product innovation and specialization and highlights the importance of transparency and traceability in the Food, Drug, and Beverage industry. Insights into digital trends in the food and beverage industry. (Source: Revenue increases by twofold with a 12% rise in advocacy. Beverage Industry’s December issue highlights five beverages brands that are “shooting for the moon” in terms of innovation. Besides being a fun game, keeping up with these trends is important to F&B directors, hotel or restaurant owners, chefs, … The nitro trend has already hit the beer and coffee markets, to the delight of … Our clients benefit from solutions like machine learning and analytics, automation, customer data, remote sensing, farm robotics, and agile transformations. 91% Of Customers Read Reviews. Low/no sugar. Google My Business, which is largely underestimated by food & beverage businesses, is used by 64% of consumers to find the info they need. Serve Them Your Products Via Vlogs, Tutorials Or Ads. (Source: Interest in cooking skill videos have skyrocketed 110% in 2018. Food bloggers wield a great deal of trust among readers. Registering your food & beverage business, be it a wine and cheese shop, artisanal ice cream stands or brand headquarters, establishes credibility with your customers researching online, as well as allows you to attract the near-me searchers or organic online store traffic. (Source: BrightLocal), Each month, an average business gets 59 actions from Google My Business listing. What challenges, concerns and risks are executives encountering? Many companies are leveraging technology and data to achieve business goals, but need to remain mindful of the new risks this can introduce. The right digital strategies can provide food and beverage companies a variety of benefits, from addressing increased labor costs to optimizing processes and operations. The foodservice industry has changed forever, but foodservice operators have the courage and the tools to adapt. Looking to grow your brand online? The member firms of RSM International collaborate to provide services to global clients, but are separate and distinct legal entities that cannot obligate each other. 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. Overall, COVID-19 has caused changes to traditional norms in the food and beverage industry. Leverage Their Enthusiasm. Almost Half Of the Small Businesses In The US Do Not Have A Website. (Source: 56% of action of Google My Business listings are website visits. However, new trends point towards digital disruption finally resulting in the growth of food and beverage industry e-commerce. 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. More businesses in the food & beverage (F&B) industry are now investing in digital innovations due to the fast-paced evolution of technologies and the changes brought about by the Covid-19 pandemic. Try our corporate solution for free! We bring you the top 10 most-read trends stories from the food and beverage industry in 2020, with trends such as e-commerce, sustainability, food safety and security and dairy trends coming up on top. 64% of consumers have used Google My Business to find the address or phone number of a local business. The smarter move is to take these trends on board. Digital transformation is rewriting the consumer products industry. 64% Of Consumers Use Google My Business To Find Business Info. 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. The survey which was carried out by IT specialist, CSB-System, indicated that continued pressure on pricing across the globe would likely result in … (Source: Think With Google). Elements of digitalization (or digital transformation or Industry 4.0) are applicable across industry and manufacturing, including food & beverage. Food Delivery. 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 … 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. Food and beverage forecasting is not a science, and just like in any art form, trends in the foodservice world are constantly shifting to reflect the changing interests and needs of our guests and consumers. Globally, around 1.3 billion tons of edible food is thrown away each year and this is … The eCommerce market is still underused in the US. 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. (Source: US online grocery market has grown from $12 billion in 2016 to $26 billion in 2018. See Who Else is Coming While already a trend in the sense that people have adopted food delivery and takeout out of sheer necessity, these actions will become a regular habit in 2021. Spritz culture will also affect coffee. 79% Of Consumers Trust Food Blogs. Canned wine, hard … That is one of the lessons we learned in 2020, and the message we must take forward into 2021. non-influencers) who are active and passionate about your brand. All of our interactions with food have become hyper-digital and socially shared. 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. Without a doubt, the food and beverage Industry is undergoing a revolution. Reward their passion with attention, freebies and other online or offline perks. 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