Food and beverage service

Share to Twitter Share to Linkedin Patrick Nycz is President of NewPoint , a full-service food and beverage marketing agency, and author of Moving Your Brand Up the Food Chain. As a food and beverage marketing agency owner, I know to stay on top of F&B trends. The industry is a highly competitive intersection of constantly evolving trends, fluctuating consumer tastes and innovation. I was so moved by the massive market share shift away from “big food” to locally sourced food that I even wrote a book about it. So, what are the most prominent food and beverage trends in retail and foodservice today? And what steps can you take to address them better? The Rise Of Plant-Based Meats (And Flexitarianism) Over half of young Americans surveyed now describe themselves as “flexitarian,” with 43% of poll respondents indicating flexitarianism as a permanent lifestyle change. Veganism and vegetarianism are also on the rise. There are many … [Read more...] about The Biggest Food & Beverage Trends: Retail And Foodservice

Share to Twitter Share to Linkedin It’s easy to come up with a startup idea. It’s really hard to then build a company that will achieve even moderate success. In 2019, the failure rate for startup businesses was around 90% according to Investopedia. So how do you hedge your bet and take out some of the unknowns that most startups have and build a successful company? You focus on industries that have a Compound Annual Growth Rate (CAGR) of more than 4%. Sounds fairly simple.  Why is CAGR important? Because it means people are steadily buying the product or service on a consistent basis over time and pandemics or recessions don’t stop the growth. That’s amazing. You want to start a company with a higher potential for success?  Review the following three industries of tea, craft beer and dog food to learn more. Twenty-three years ago, we invited an entrepreneur to speak at San Diego State University to students in the entrepreneurship program. He was really … [Read more...] about Increase Your Startup Or Small Business Success Rate: Learn What Tea, Beer And Dog Food Founders All Leveraged

Share to Twitter Share to Linkedin So far, this year hasn’t been kind to restaurant adjacent tech companies. Last month alone generated several headlines of layoffs at companies like Lunchbox, ChowNow and Nextbite, while ghost kitchen providers like CloudKitchens and Reef have struggled with some reputational issues. Through the turbulence, Kitchen United has remained steady. In fact, just last week, the ghost kitchen operator secured a $100 million funding round from some recognizable names like Burger King parent Restaurant Brands International, The Kroger KR Co. and shopping mall giant Simon. The roster of investors also includes leaders across the convenience store, packaging, logistics, distribution, automation and real estate categories. As such investments have all but come to a screeching halt , that $100 million number is certainly remarkable. CEO Michael Montagano said this latest round comes after building commercial relationships with … [Read more...] about After Securing $100 Million In Funding, Kitchen United Proves Ghost Kitchens Have Plenty Of Long-Term Potential

San Miguel Corp. reported strong financial performance in the first half of 2022 driven by top-line gains across its businesses. This, amid the lingering effects of the pandemic, supply chain bottlenecks and inflationary pressures. Consolidated sales revenue rose 73 percent to P711.4 billion on sustained volume growth and better selling prices. Operating income grew by 41 percent to P85.9 billion, boosted by  the improved performance of its fuel and oil subsidiary Petron, and sustained recoveries of its food, beverage, packaging, and infrastructure businesses. Ebitda (earnings before interest, taxes, depreciation and amortization) reached P91.2 billion, up 13 percent from the first half of 2021. Recurring consolidated net income was up 24 percent to P32.5 billion. With the effects of foreign exchange movements and the impact of the CREATE ( Corporate Recovery and Tax Incentives for Enterprises)  Law, which were reflected in its 2021 results, consolidated net income settled at P19.8 … [Read more...] about SMC delivers strong H1 results

Companies do everything they can to ensure they remain relevant to their customers and clients. It is true every entrepreneur and brand tries to put the best foot forward. Whether it is by delivering in time or through a 24-hour customer support system, the companies do it all. However, not everyone would have considered going for the coffee gift subscription from Pearl Lemon Café. The UK-based brand has been a specialist coffee-aficionado; hence, their authority is prime in this sector. What Corporate Gifting Looked like Earlier Such items became redundant, and even corporate brands started spending money on the same. Instead, the companies are now trying to give something with a personal touch. Everything About Corporate Gifting Now Companies are trying to go for the new look and feel. They offer personalized touch by offering their partners, clients, or customers a coffee gift subscription. This is not just any kind of coffee we are talking about. The coffee … [Read more...] about Coffee Gift Subscription – The Game-Changer In Modern Corporate Gifting

Conglomerate San Miguel Corp. (SMC) said higher selling prices and volumes pushed sales higher in the first half of 2022 but profits were pressured by the weakening Philippine peso and pandemic tax adjustments. The food, beverage, energy and infrastructure giant said net income from January to June sank 33 percent to P19.8 billion amid foreign exchange “movements” and normalized tax expenses from last year’s effectivity of the Corporate Recovery and Tax Incentives for Enterprises Act. SMC’s total revenues jumped 73 percent to P711.4 billion while operating income rose 41 percent to P85.9 billion. SMC said earnings before interest, taxes, depreciation and amortization increased 13 percent to P91.2 billion. Earnings were propelled by the outperformance of infrastructure and Petron Corp., whose first semester 2022 earnings exceeded those of the entire 2021. The food and beverage segment also sustained revenue and profit growth while the power subsidiary saw earnings drop due to … [Read more...] about SMC first half profits declined 33%

Share to Twitter Share to Linkedin Image via Wikipedia It’s officially celebration season in Las Vegas, a virtually non-stop series of huge festive weekends starting with a blowout New Year’s Eve, followed immediately by the big college bowl games, the NFL playoffs, and the mother of all Vegas parties, the Superbowl. So if you have any plans to be in Sin City in the near future and want to live it up, I have a special treat for you. Today my special guest expert is David Lynch, contributing wine editor to Bon Appétit magazine . Lynch is also the author of respected Italian wine reference Vino Italiano , co-author of the satirical Wine Snob’s Dictionary , and Beverage Director at San Francisco’s Michelin-starred Quince Restaurant . As a Senior Editor at Wine & Spirits , he won a James Beard Journalism Award, and as a wine director he won a James Beard Restaurant Award for Outstanding Wine Service. David Lynch is an … [Read more...] about 5 Greatest Las Vegas Wine Lists

Accelerating inflation has cooled the Philippines’ second-quarter economic growth to 7.4 percent, below market expectations, the government reported on Tuesday. Gross domestic product (GDP) expansion during the April-to-June period was lower than 8.2 percent a quarter ago and 12.1 percent a year ago, National Statistician Dennis Mapa said in a press briefing. The majority of economists watching the Philippines had projected a sustained above 8-percent growth for the second quarter. Also, Mapa said second-quarter GDP or the total goods and services produced in the country was smaller than the first-quarter output by 0.1 percent. “Transportation and storage, manufacturing, human health and social work activities were the top contributors to the [quarter-on-quarter] decline,” the Philippine Statistics Authority (PSA) said in a statement. Socioeconomic Planning Secretary Arsenio Balisacan nonetheless noted that the Philippines was the second-fastest growing economy in emerging … [Read more...] about Soaring inflation cools PH Q2 GDP growth to 7.4%

- A + A (Aug 11): Singapore trimmed its 2022 growth forecast to reflect an increasingly challenging global environment, after the economy slipped into contraction in the second quarter. Final data for the June quarter on Thursday showed gross domestic product shrank 0.2% from the previous three months, and worse than the zero growth estimated by Ministry of Trade and Industry earlier. It also narrowed the full-year projection to a range of 3%-4% from 3%-5% seen before. A 6.9% decline in retail trade services weighed heavily on the quarter-on-quarter performance, with wholesale trade as well as information and communications services output also registering a fall. Accommodation and food and beverage services notched up sizable gains, but those were mainly attributable to a weaker year-ago showing. The MTI flagged risks to the global recovery from aggressive monetary policy tightening as well as China’s ongoing struggles with Covid-19 and a property market downturn. … [Read more...] about Singapore narrows GDP forecast after economy shrinks in 2Q

Share to Twitter Share to Linkedin From his upbringing in a small farm in Wisconsin, Chef Steve McHugh has been immersed in farm-to-table cooking and eating, decades before it was a widely recognized trend. He is one of only three chefs in Texas recognized as a Leader in the James Beard Foundation’s Smart Catch Program and a proud member of the Food Policy Council of San Antonio. He was recently recognized by the International Fresh Produce Association as a winner of the 2022 Produce Excellence in Foodservice Award. A leader in culinary sustainability, McHugh is an advocate of indigenous Texas ingredients and a dedicated supporter of local food producers in and around San Antonio. For all his accomplishments and deep commitment to his community, McHugh has, deservedly, been a six-time finalist for the James Beard Award for Best Chef in Texas. And every single time he’s made the trip to the award ceremony in Chicago, he has come back to San Antonio … [Read more...] about Why Steve McHugh Deserves Recognition As The Best Chef In Texas