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The food and beverage (F&B) industry is big business. The growing mid- to high-income consumer group has increasing purchasing power, more sophisticated tastes and lifestyles and is demanding more imported food and beverages. Consumers also increasingly aspire to dine out at the full range of establishments available in Malaysia, from full-service to fast-food restaurants, to fine or casual dining eateries.
This is creating big opportunities for restaurant chains to expand rapidly, and offers young entrepreneurs the chance to jump into investments in the F&B business.
As choices abound and the industry grows, F&B operators face challenges and obstacles in sustaining business momentum.
The F&B industry is normally categorised into full-service restaurants, fast-food, cafés/bars, street stalls/kiosks, self-service cafeterias and 100% home delivery/takeaway.
The industry has undergone a complete facelift in the last decade, with many companies widening the array of new brands emerging across categories.
The biggest challenge for F&B operators is standing out from direct competitors and carving a niche to attract and retain customers.
One of the most difficult aspects of the F&B industry is managing supply inventory. This is because, compared with most other industries, F&B’s products are perishable, with quick expiry dates.
To prevent financial loss from food wastage, operators rely on efficient and reliable inventory management software and POS systems to monitor stock, keep tabs on products’ shelf lives and reordering supplies.
E-commerce has grown hugely over the past decade, forcing many businesses to adapt to and capitalize on online shopping.Increasingly tech-savvy, time-poor consumers like the convenience of buying online, a trend driving traditional F&B companies to consider e-commence as a strategy to stay relevant to their customer base.
EASI offered two distinct solution: