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9 January 2020 by Food&HotelAsia
By: Dewey Warner, Euromonitor International
The global food and beverage industry is in the midst of some radical changes with the potential to dramatically transform what people eat and drink and the manner in which they do so. Two powerful disruptive forces are increasingly weaving their way through the industry and predominately [undergirding] driving these changes: the rise of digital retailing platforms and evolving consumer preferences and expectations.
Consumers are prioritizing fresh and premium qualities in the foods and beverages they purchase and are seeking out convenience in accessing these items. At the same time, digital platforms for internet retailing have grown in other consumer goods industries and altered purchasing habits and expectations, and the food and beverage industry is starting to catch up. Digital services like food delivery, meal kit subscriptions and click and collect options have proliferated, boosting convenience by offering a slew of new opportunities for consumers to access food and beverages. In an industry long dominated by brick-and-mortar, this rapid digital revolution has presented daunting challenges for manufacturers and retailers alike, along with significant questions about the future landscape of the food and beverage industry.
Read the rest of the report here.
Trends Digital Transformation FHA Insider Knowledge Partner Euromonitor
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