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Trends in Food and Beverage Management
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Identify three trends that have affected the food and beverage industry. Describe the effect of these trends.
What effect has technology had on the food and beverage industry and its operations?
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Identify three trends that have affected the food and beverage industry. Describe the effect of these trends.
According to the European Monitoring Centre on Change, the key challenges that the food and beverage industry are facing now are as follows:
- Increased competition – More and more competitors with more advanced technologies and innovation are showing up in the market. Food companies restructure and defend themselves against the fight for market share by pursuing marketing strategies such as product differentiation and new products development. Some retailers sell at prices below production cost which sometimes causes pressure on small shops, retailers and suppliers. They resort to squeezing costs which can affect the salaries and conditions of the employees of the company. Companies have learned to focus more on the strengths of the companies, eliminate non-core activities, and invest in new technologies to …
