REPLY: A New Push for Digitalization in the Food and Beverage Industry
11 March 2021 - 7:30PM
Business Wire
Reply’s report, conducted with the trend platform SONAR,
examines the impact of the pandemic on the Food and Beverage
(F&B) Industry. COVID-19, as a catalyst for digitalisation,
offers opportunities to create new business models in Europe.
Across Europe, interest in online delivery services grew by an
average of 140 per cent in 2020. The average share price for the
largest delivery service aggregators increased by 53 per cent. On
average, 34 per cent of Europeans ordered food online in the third
quarter of 2020, compared to 56 per cent globally.
In the early stages of the pandemic, F&B outlets across
Europe were closed. With an increase in online grocery shopping,
new demands on grocery retailers' logistics are emerging. Digital
logistics at the backend of supply chains is important to provide a
more comprehensive choice of products to consumers. Providing an
omnichannel approach for the customer journey - from first contact
to delivery - will be key in reaching diverse consumers with
various needs.
Food delivery services stepped in to fill the gap left by the
lockdown restrictions for restaurants, bars, cafés and other
venues. Until restaurants open long-term, a blending of online and
offline experiences will be necessary to retain and delight
customers through personalized offers. Digital reservation tools
will grow in importance and online seat reservations are in demand
for when restrictions are lifted.
Mass market F&B chains have offered mobile and app-first
offers, discounts, ordering and payment functionality for some time
now. Pre-order, meal kits or post payment loyalty: more and more of
the F&B industry will need to function online. According to the
European Central Bank, 87% of Europeans say they will continue to
pay with cash less frequently. F&B outlets that use technology
for analysis and decision-making will reap the rewards. Efficiency
in areas such as menu planning for restaurants as well as food
ordering for consumers should be maximised. Digitally capturing
consumer data will help grocery retailers better understand
consumers and differentiate themselves from the competition.
"F&B companies that design the end-to-end consumer
experiences based on strategic, data-driven insights create
opportunities for hyper-personalised offers tailored to custom-made
preferences, which not only contributes to additional revenue
streams, but also consumer loyalty. Understanding consumer
behaviour and preferences provides an assured perspective on how
brands can grow in the long term", comments Filippo Rizzante, CTO
Reply.
The COVID-19 Food & Beverage report is part of a series
published by Reply on how the pandemic is impacting businesses and
daily lives. All reports can be found at Reply COVID-19 series.
To read the full report, please click here.
Reply
Reply [MTA, STAR: REY, ISIN: IT0005282865] specialises in the
design and implementation of solutions based on new communication
channels and digital media. As a network of highly specialised
companies, Reply defines and develops business models enabled by
the new models of AI, big data, cloud computing, digital media and
the internet of things. Reply delivers consulting, system
integration and digital services to organisations across the
telecom and media; industry and services; banking and insurance;
and public sectors. www.reply.com
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version on businesswire.com: https://www.businesswire.com/news/home/20210311005056/en/
Reply Fabio Zappelli f.zappelli@reply.com Tel.
+390117711594
Aaron Miani a.miani@reply.com Tel. +44 (0)20 7730 6000
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