Sunday, 25th January 2015 | Marketing,Management
Food Trends in Canada
Is there a secret to success in the restaurant business? We’re not sure, but if you have it, we’d like to chat. Until then, it helps for you to stay informed about the ongoing changes in the marketplace. The sooner you identify and take advantage of new trends, the more you will benefit and the easier it will be to adapt to future changes.
Is there a secret to success in the restaurant business? We’re not sure, but if you have it, we’d like to chat.
Until then, it helps for you to stay informed about the ongoing changes in the marketplace. The sooner you identify and take advantage of new trends, the more you will benefit and the easier it will be to adapt to future changes.
Below are five trends worth watching:
- Fewer Menu Items - With customers valuing the ‘experience’ of dining out, more restaurants will stop trying to cater to every taste. Instead they will look at menu themes or focus on a few dishes that they do exceptionally well.
- Now You Need to Satisfy Both Boomers and Millennials - One wants healthier options and the other wants to deal with more connected and responsible businesses. And both of them have money to spend. Boomers will appreciate more gluten-free, low-salt and vegetarian options. Millennials will need to hear about you on Instagram or other social media, and they want to know that you offer socially responsible foods, like free-range chicken.
- Beverages Refined - While different, more exotic dishes have been an ongoing trend, in 2015 that trend will shift to your beverage menu. You will see a wider variety of teas and coffees (even Tim Horton’s now has its Dark Roast option), exotic juices and alcoholic options that include ciders (gluten-free), low-alcohol choices and oil-infused cocktails.
- More Hybrids - It started when chef Dominique Ansel combined croissant and donut pastry dough to create the Cronut in 2013. In 2015, the hybrid trend will grow to include dishes like ramen burgers, brioche/souffle mix (another mash-up from Ansel) and dessert pizza.
- Localization & Personalization - In 2015, local restaurants will continue to battle their big-box cousins for the hearts and tastes of diners. Two powerful weapons in that fight will be menu items made from local foods and offering customers more ‘choose your items/ingredients’ options.
Remember, no matter how hot the trend, what works for one restaurant doesn’t always work for another. Stay informed, talk to your customers and find out what works best for your business.
Source: https://blogs.technomic.com/technomic-spots-five-2015-food-trends-for-canadian-restaurants/
Read Also
Start your holiday planning now: How to make the most of the 2021 season
Even in the best of times, the winter holiday season is a key earning period for small businesses but this goes double in 2021. After more than a year of uncertainty and lost sales due to the COVID-19 pandemic, Canadian small businesses will need a prosperous holiday season this year to recoup some lost revenue. Take action towards your end-of-year success by putting the wheels in motion—now. With more than half the year gone by, now’s the time to trade your thoughts of sunscreen and sandals for stockings and snowmen and get your seasonal plans in place. Read on for three key areas small businesses should attend to now for a stellar holiday season.
Inventory
Inventory is a constant task for retailers. You’ve got to make sure you have enough stock (empty shelves are a terrible look) but not too much that you take a loss on clearance markdowns. This problem can be compounded with seasonal stock—ask anyone who’s tried to sell an Elf on the Shelf in April.
You can avoid the major inventory pitfalls by having a plan.
- Start an inventory document. You’ll have enough on your plate without trying to remember whether you ordered 100 or 1,000 units of tinsel.
- Review last year’s sales data to refresh yourself on the tactics that worked and those that didn’t, and use that data to anticipate your sales for the upcoming season. Take note of the hot items and remove slow sellers from the list.
- Survey existing inventory to avoid repurchasing items you’ve already got.
- Analyze the current year’s trends to prevent overbuying and overstock, then make a list of what you need. Remember: frequent re-ordering is a better strategy than massive one-time buys to keep your shelves full and your cash flow, well, flowing.
- Reach out to your suppliers as soon as possible to take advantage of early-order price incentives.
eCommerce vs bricks-and-mortar
Some stores that were originally bricks-and-mortar found new markets online during the pandemic and in the coming year it’s likely that many retailers will be offering an eCommerce and bricks-and-mortar hybrid model. Plan now for how your holiday online shopping and in-store experiences will work.
Consider the following:
- Will you provide the option to buy-online-pick-up-in-store (BOPUS), in addition to in-store shopping?
- Will you offer delivery or shipping?
- What about curbside pick-up?
- How will you handle exchanges and returns?
- What restrictions will be in place in-store, and how will you enforce them?
- Do you plan to offer your customers sanitizer and masks? And if so, you’ll need to order them, now!
Create a logistics plan far in advance to account for the eventualities of your 2021 holiday shopping experience.
Marketing
Marketing is always a key component for retailers going into the holidays and the 2021 season will be no different. One change, perhaps, is that social media will likely play an even greater role than in past years. During the pandemic, many retailers relied on social media to communicate with customers and sell merchandise. In fact, according to business consulting firm Grand View Research, the global social commerce market was valued at US$474.8 billion in 2020. If you plan on developing a social media content and advertising plan, consider what products or services you will be promoting on social media ahead of time.
Aside from your social media concerns, there are also countless other marketing tactics to consider:
- You could run ads in print or online.
- Direct mailings like flyers or brochures can attract new customers, as can digital mailings through email.
- A partnership with another company might allow you to tap into their customer base.
- Special offers, discounts, and coupons can bring in new leads.
- A contest or other special event is effective at raising brand awareness and stimulating sales.
- Use your data to create holiday-themed promotions.
- Branch out thematically and increase sales opportunities by keeping alternative holidays like Black Friday, Small Business Saturday, and Cyber Monday in mind.
There’s no shortage of holiday preparation tasks but advance prep in these three areas will get you off on the right foot and on the way to a prosperous 2021 season.
Marketing ,Management
Customer retention best practices for your small business
It’s common knowledge that it costs less to keep customers than to acquire them, but have you ever put a price on it? According to research from Bain & Company, “a 5% increase in customer retention produces more than a 25% increase in profit.” This, they say, is because repeat customers are likely to spend more money with your brand over time. They are also likely to refer you new business. Put simply, investing in customer service to make sure your customers have consistently positive interactions is good for your bottom line. Read on for top tips on retaining your customers.
Maintain consistent business hours
One of the joys of owning your own small business is the flexibility and ability to manage your own schedule. However, unpredictable operating hours could be costing you. Your customers are busy too and wasting their time is a quick way to lose their business. Be consistent with your business hours so customers can plan to visit with confidence that you’re open.
Keep your website and Google My Business listing up to date
If your website lists out-of-stock merchandise, last year’s pricing, or services you no longer offer, your customers may well feel like they can’t trust your business. Make sure everything is up to date, including your hours or location, across platforms.
Offer online shopping or other options
Even though retail is reopening, many customers have become accustomed to shopping online. This doesn’t necessarily mean you have to sell your services or products online, but offering the flexibility of custom orders in cases where customers don’t feel comfortable returning in-store shows respect and thoughtfulness. Also, consider offering phone and email ordering with the option to pick it up or have it delivered. Seamless transactions that suit your customers' needs will go a long way to ensuring you get repeat business.
Communicate with your customers
Your website, social media, email, and even newsletters are all ways to communicate with your customers. Figure out which works best for your industry and reach out. Regular communication keeps your business top-of-mind, but make sure you don’t flood your base with overly frequent messages.
Train your employees around customer service
Think of your team as brand ambassadors—because that’s what they are. Your employees are the face of your business and how they interact with your customers will inform your reputation. Make sure your employees are trained to provide top-notch customer service.
Get personal
Nobody likes to feel like they’re just a number. Take the time to learn your customers’ names and a little about their lives. Encourage your employees to take time with your customers rather than rushing them to the till. A little human interaction goes a long way.
Reward loyalty
Loyalty programs can be as simple as a punch card or as complex as a multinational campaign. Giving your customers a little extra when they return is an effective way to keep them coming back, while showing your gratitude for their business. Points programs and discounts are easy-to-implement strategies that will make your customers feel valued.
Resolve issues quickly
Perhaps a product doesn’t work as intended or a service doesn’t meet expectations. Sometimes, despite your best efforts, things go wrong. These occasions are opportunities to deepen customer loyalty. If you can resolve the issue quickly to your customer’s satisfaction you’ll build trust with your customer so they feel confident enough to return next time.
Show gratitude
Many consumers have demonstrated their willingness to support small businesses, especially right now. Acknowledge that you appreciate them. A simple thank-you goes a long way and a grateful approach will help ensure your customers keep coming back.
So much of customer retention comes down to simple customer service. Follow these guidelines to give your customers a positive experience every time they interact with you. Your reputation and your bottom line will thank you for it.
Management