In light of recent challenges in the foodservice industry – from a shortage of raw materials, to inflation, and the labour crunch – strategies for the future must turn these headwinds into opportunities. This is made even more pertinent in the aftermath of the pandemic, at various stages across Asia; for instance, Southeast Asia’s recovering economies and China’s zero-COVID goal. QSRs must review their value proposition, leverage food-on-demand and revisit strategies for in-store hospitality.
Physical spaces are evolving amid the impact of the global pandemic on consumer lifestyles, business models and workplace alongside the influence of digital transformation. As more companies embrace technological innovation, physical spaces are redesigned to create unique user experiences across all touchpoints. They are transformed into spaces as a service.
Qatar, a small conservative Islamic Arab emirate, is set to host the FIFA World Cup in December 2022. This has implications for consumers who want to consume alcohol, as at present access to alcoholic drinks is restricted to tourists and non-Muslim expatriates. Qatari law stipulates that only liquor license holders can buy and consume alcohol within the emirate.
Digital innovation opened the door for fintech to provide easier access to low-cost credit. This latest era of buy now, pay later (BNPL) gave consumers newfound purchasing power. Stream our webinar to hear Euromonitor experts answer fundamental questions about the multibillion dollar BNPL landscape.
Experience More is transforming in the current climate due to inflationary pressures eating into consumers’ discretionary spending, yet the desire for experiences regardless of channel – in real life or the metaverse – remains unabated. Brands are adopting a ‘less is more’ approach, with no-frills, removing filters, reducing choice and knocking down barriers to ensure that brand experiences are inclusive and appealing to all, opening up new opportunities to forge long lasting connections.
At this year’s Stadium Business Summit at the Emirates Old Trafford in Manchester, UK, stakeholders from across the sports and entertainment space came together to discuss the strategies that are driving the return of fans to venues across the world. Euromonitor presented on the evolution of physical space and how this impacts the fan experience. This is a topic that is front of mind for operators, which are in the process of better understanding how fans and consumers have changed over the last three years, and how these insights can grow existing and create supplementary revenue streams, all the while driving fan engagement.