We were at Global Restaurant Invest Forum (GRIF) today and I would describe it as a classroom of Founders and CEO’s anxiously sitting and listening to some great Speakers and their ideas. Dubai is a test tube market for investors and businessmen to explore their reach and test grounds, whether to expand or as a start-up.
The hospitality industry has been drastically changing around the globe and the main reason behind it is today’s Millennials who think differently and have unique mindsets. Today’s generation is emphatically running to achieve more than early years. They use brainpower in resources more than they used physically, they run short on their schedules, managing multiple errands at one time. They are scurrying to achieve more financially than anything else. Everything in this digital age is getting more commercialized than used to the kindness of earlier generations.
Industries around the world are trying to understand the mindsets and behavior of the Millennials, who earn and spend more, are intelligent, tech-savvy but crushed between the needles of their own clocks. Millennials is the reason behind the change, anywhere and everywhere. They are changing food cultures and experiences. For them, time is the new currency.
So, what is the Food Industry doing to attract these Time poor and Cash-rich millennial? Companies have now realized that today generation wants to eat healthy, nutritional meals in an environment where they release their stress and forget about the outside world. Vegan population in the US has tremendously grown to 500% over the few years, I’m glad as a vegetarian, I now have more options and people understand what it means.
Seeing the evolving eating out culture and the risk of developing diseases, a company in Lebanon is creating gluten free, allergen free, burgers, pizzas and pastries for people with diabetes and food allergies.A restaurant in the US, by Chloe, offers 100% vegan food to their customers. Millennial like colors, eating and drinking is another social currency for them, it’s like #EatingforInsta. There is another restaurant in the US which serves colorful desserts, look at the picture below, just Wow! Starbucks recently sold thousands of Unicorn Frappuccino which were a big success. Before people even get the food on the table, they want to grab their phones to take a picture and share it on their social media channels. They want to share their experiences, their lives and so much more. It’s become a much bigger trend and Instagram doesn’t need any advertisement as they are growing like wildfire.
For restaurant industry, it’s a positive thing when people take a picture of their food and share publicly, they are getting a free publicity and the time of Word of Mouth has returned with a big bang. The restaurant staffs now work more on the food presentation along with the taste. Some even take a picture of their food before serving it to the guests to make sure how it would look in pictures once shared, for them, it’s their reputation.
Emotion is the new currency for the experience! Companies are creating Neuro health spaces for their customers where the site is filled with greenery to give them a sense of calm. They are creating Yoga spaces for the customers to meditate and relax before they could order their food. They want to make sure to give them the experience of a sanctuary, unwinding, relaxation along with healthy, nutritional meals. This will pull their customer back again and again. Because these days in marketing, it’s all about “”Man’s pull and not the product push”. Restaurants are creating spaces to touch all 5 senses of their customers with food, ambiance, incense, music etc.
/>The restaurant industry is very creative and innovative industry. Food Halls are also getting popular and more and more food halls are opening around the globe. Food Hall is a concept of one large space with various dining concepts under one roof, cooking art with cultural elements and food quality. Time Out Market had a great success in it and they are thinking about expanding it to more food halls in different parts of the world.
The trend of eating out is widespread within the millennial community; the studies have shown that the grocery bills of millennials are lesser than their restaurant bills. But even with these trends, millennials like to cook at the freedom of their own residence and invite friends to try their innovations using digital apps or online recipes. There is an app which connects to the induction to maintain the temperature, can you believe the technology? Panera Bread in the US has sold recipes online and earned millions of last years apart from the restaurant selling.
Asian and Western consumer behavior is actually the same when it comes to expenditure or eating out or with their digital devices. Stressed consumers managing their lives and livelihood go out to relax and socialize. It’s all about Millennial, cryptocurrencies and e-wallets in 2018. New Apps and Artificial intelligence are already stretching their arms in the hospitality industry. Consumers are actually overloaded and flooded with content. That’s why hospitality industry is thriving to create new experiences for Millennials as they say, Experiences do not happen, they are designed”.
GRIF at Palazzo Versace Dubai was a great success; Hozpitality was present at the event as their media partners. A lot of networking opportunities for Start-ups, founders, and investors, new opportunities for business ideas, growth and success in the ever-growing hospitality industry in Dubai. GRIF was organized by Bench Events, organizers of AHIC as well. We wish GRIF and Bench Events the best for their upcoming events in 2018.
About the company; Hozpitality.com is the Middle East’s leading dedicated hospitality website for experienced and entry-level hospitality professionals. From hospitality jobs in Dubai to chief engineer positions in Europe and store manager jobs in the U.S., job seekers can search for employment opportunities all over the world in this fast-growing industry. In addition to listing hospitality and hotel jobs in Middle East to the Americas, the website also provides an effective platform for hospitality community networking and brand advertising for top hospitality companies and suppliers.
Headquartered in Dubai and used by leading employers and recruiters to broadcast job vacancies in Dubai and across the globe, Hozpitality.com specializes in matching top candidates with attractive opportunities. Candidates who are interesting in positions with hospitality suppliers, airlines, retail stores, or other positions in the UAE and beyond can also use Hozpitality.com to keep up with the latest industry news and information, as well as customize their CVs with the site’s professional design services.
Hozpitality.com is a subsidiary of VR ONLINE PORTAL, a company incorporated in Dubai to cater to the growing needs of the hospitality industry.